The process of applying for a loan with Commonwealth Bank is a streamlined and simple one. However, applying directly to one lender isn’t always the best option for you. By submitting a quick quote and application through Savvy, you can put your application in the hands of an experienced consultant who’ll find and compare the best offers for your profile and submit all the required forms on your behalf to ensure you’re approved.
The CommBank car loan application process is as follows:
Work out how much to apply for
You should always enter the process knowing how much you need and can afford. One of the best ways to find out what your ideal borrowing amount is for CommBank is with a car loan calculator, which you can find right here with Savvy. Our calculator will help you crunch the numbers for your CommBank car loan, determining what amount and term best suit you.
Fill out your online application form
Once you have a clear idea of what to borrow, you can complete an online application form. This is designed to let CommBank know about your personal situation and the current state of your finances to determine whether you might be a suitable applicant for a car loan.
Receive an instant outcome and submit your documents
You’ll be notified in as little as 60 seconds as to whether your application was successful. If it’s been pre-approved, you’ll be asked to send through your supporting documents to confirm the details discussed in your initial application. Once these have all been verified, you can move into the final stages of the process.
Sign your contract and receive your funds
CommBank will send you a loan contract to sign and return and, once this has been completed, advance the approved funds directly into your account, enabling you to purchase the car you need.