PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
What do I do after I get approval for a car loan for $20,000?
"I went to my bank and got approved for a car loan up to $20,000.
What's the next step in the loan or car-buying process?"
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“The next step is to go to the dealer and pick out what car you want. You might have to pay a small deposit to hold the car.
Next, the dealer starts the paperwork.
Call your bank to give them the car’s VIN and let them know you’re going to buy the car.
After that, shop around for
car insurance
, as comprehensive and collision are stipulations of a car loan.Your bank will call you when the loan is approved and the check is ready. Zip into the bank, collect the check for the amount of the car, and head to the dealer.
Hand them the check, and drive away in your new car.”
View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies