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The answer: car loan approvals can often be very quick – sometimes even on the same day. But how long it takes depends on your situation and how prepared you are.
In this guide, we’ll cover:
- Typical car loan approval times in Perth
- What you’ll need for a fast approval
- What can slow down your loan application
- How working with the best finance broker in Perth can speed things up
How Long Do Car Loans Take to Get Approved in Perth?
Approval times for car loans in Perth vary, but here’s a guide:
- Same-day approval: Straightforward applications with stable income and all documents ready can sometimes be approved within hours.
- 1–2 business days: This is the most common timeframe for most car loan approvals.
- 3–5 business days: More complex cases – such as self-employed borrowers or those with average credit – can take a little longer.
If everything is in place, you could drive away in your new car within 24 hours.
What You’ll Need for Fast Car Loan Approval
To improve your chances of a quick approval, make sure you have:
- Proof of ID – Driver’s licence, passport, or other government-issued ID.
- Proof of income – Payslips, tax returns if self-employed, or bank statements.
- Proof of address – Utility bill, lease agreement, or bank statement.
- Credit check – Lenders will do this automatically, but being upfront helps.
- Car details – A vehicle invoice or quote if you’ve already chosen your car.
Having these ready before you apply will save time and avoid delays.
What Can Slow Down Car Loan Approval?
Common things that slow down car loan approval include:
- Missing or incomplete documents
- Recent job changes or irregular income
- Too many recent credit enquiries
- Not disclosing existing debts or defaults
Transparency is key – the more upfront you are, the faster your Perth finance broker can get your loan across the line.
Why Use a Perth Finance Broker for Car Loans?
When it comes to getting approved quickly, using a Perth finance broker gives you a big advantage. Here’s why:
- Access to multiple lenders: Instead of applying everywhere (and hurting your credit score), a broker matches you with the right lender straight away.
- Expert knowledge: The best finance brokers know exactly what documents lenders want and how to present your application.
- Faster approvals: With experience and connections, brokers can often secure same-day approvals where direct applications might take longer.
- Personalised service: Every borrower is different – whether you’re self-employed, have average credit, or need a larger loan, a broker knows which lender suits you best.
The Bottom Line
So, how fast can you get approved for car loans in Perth? If you’re prepared, it could be the same day. Most borrowers are approved within 1–2 business days, while more complex cases might take up to a week.
Working with the best finance broker in Perth means you’ll save time, reduce stress, and improve your chances of fast approval.
At Hanna Lending, we make car finance simple, transparent, and quick. With over 250+ 5-star reviews on Google, we’ve helped hundreds of people across Perth get approved for their car loans – and we can help you too.
Ready to apply? Get a quote today.
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