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With an auto loan preapproval, you could negotiate a better sales price with the dealer.

Getting preapproved for a loan can give you an edge before you visit the dealership or shop online. It can make it easier to negotiate a better sales price and lets you know what you can afford.

Learn how to get preapproved for a car loan in 5 simple steps.

  1. Step 1

    Gather the following information to submit with your application:

    • Contact information for applicant and co-applicant (phone number and email)
    • Current housing, employment and income information for applicant and co-applicant
    • Trade-in information (title or loan information, registration, etc.)
    • Amount you expect to finance (including vehicle purchase price, taxes, tags, title and warranty, less any down payment)
    • Length (term) of the loan you want
    • Check out our auto rates and loan options

    Keep in mind that preapprovals are only accepted by dealerships and can’t be used for purchase through a private seller. Additionally, some overseas dealers may not accept preapproved auto loans.

  2. Step 2

    Submit your application.

    After submitting your application, you’ll receive a text message* or email letting you know if you were preapproved for the amount you requested.1

    We understand that when shopping for a car, you can’t always wait around for a decision. That’s why we typically provide auto loan decisions in seconds.

  3. Step 3

    Receive your loan check.

    Once you've been preapproved, we'll issue a check with your funds. You can pick it up at your nearest branch or have it mailed to your home.

    The amount on the check is how much you've been approved for—but you don’t have to use it all.

    You’ll only be responsible for the amount you’re applying toward the car.

  4. Step 4

    Take the loan check to the dealer when you're ready to buy.

    Be sure the loan check is completed and signed when you're ready to purchase your vehicle.

    You can get started on finding the perfect vehicle using our Car Buying Service, powered by TrueCar®.

  5. Step 5

    Send us the title.

    Once you pay the seller, ensure the title is received by Navy Federal within 90 days of purchase.

Ready to get started?

Apply Now for an Auto Loan

With an auto loan preapproval, you can:

  • Budget With Confidence

    Getting preapproved for a car loan means that a lender has already approved you for a particular loan amount and interest rate. Examine your budget to account for your income and current monthly obligations to get an accurate picture of how much you can spend on a vehicle.

    Learn More about Budget With Confidence
  • Optimize Your Interest Rates

    By being preapproved by 2 or more lenders, you could compare the different loan offers, potentially leading to a more favorable interest rate and a clear understanding of monthly payments.

    Learn More about Optimize Your Interest Rates
  • Negotiate With an Edge

    With a preapproval, you could have an edge before you visit the dealership or shop online. It can make it easier to negotiate a better sales price and lets you know what you can spend.

    Learn More about Negotiate With an Edge

Why Choose Navy Federal?

Once you become a member, you’re part of our family. We’re dedicated to providing you all the support you need to reach your financial goals along with the banking experience you deserve.

Join Now

Auto Loan Resources

Use our helpful resources to better understand the car-buying experience and feel confident in your auto loan decision.



Credit and collateral subject to approval.