Just because the application process for your chosen lender is a simple one doesn’t mean you shouldn’t make yourself aware of it before you start preparing your information. By anticipating the steps along the way, you can avoid any surprises and, most importantly, delays in getting the funds to you so you can purchase your vehicle sooner. The HSBC car loan application process is as follows:
Submit your application online
The application you provide is relatively fast and easy to do. It should only take you around ten minutes to complete this and send it off to HSBC, after which you can receive a near-instant outcome.
Get an outcome and rate
You’ll receive a response in around 60 seconds confirming whether your initial application was successful. You’ll also receive an indicative interest rate as part of this process. It’s important to note that this won’t impact your credit score.
Upload your documents
If successful, you can proceed with the application and upload all the required documentation. This will involve identity documents and those pertaining to your financial situation (such as payslips and bank statements).
Sign your contract and receive your funds
After everything has been checked over and signed off on, you’ll be sent a loan contract to sign, which confirms the details of your agreement. You can do this online and return it to the lender, who can then advance the funds directly into your account.
You can simplify things even further for yourself by applying directly with Savvy. With more than 25 lending partners from around the country and a dedicated team of consultants, we take the hard work out of comparing and applying for your car loan. You can even use our car loan calculator for HSBC or any of our partnered lenders to find what’s the most affordable loan deal for you. Apply with us today to maximise your chances of approval for the best car loan available to you.