After applying for a wheelchair-accessible vehicle loan, there are several steps you can take to ensure a smooth process and increase your chances of approval.

Here are the best things to do next:

Gather Your Documents

Get your paperwork ready. We will request proof of ID, income and bank statements, proof of employment, and a quote for vehicle insurance. Digital documents are great to use but be sure to give them a title easy to recall. Having these documents readily available will help speed up the loan processing.

Review the Loan Terms and Compare Offers.

This step can help save you money.

Most people only make one loan application meaning they are missing out on competitive rates and terms. Carefully read and understand the terms and conditions of the offer. Take note of the interest rate, repayment period, monthly payment amount, any additional fees or charges, and any specific requirements or conditions attached to the loan.

If you have applied for a loan with multiple lenders, compare the offers you receive. Evaluate the interest rates, repayment terms, and fees. Don’t be afraid to ask questions and let these banks earn your business. This will help you choose the best option that aligns with your financial needs and capabilities.

Respond Promptly and Ask Questions

If the lender requests any more info or documents, make sure to respond promptly. Keep the loan moving forward.

Maintain Regular Communication

Stay in touch with the lender throughout the loan process. Keep track of the progress and ask for updates. This is your opportunity to also see how this lender will treat your loan and you as a person.

If your loan is approved, review the final agreement and make sure you understand the terms before signing.

If rejected, you will receive a letter explaining why. Review the details and see what can be improved. Or you can choose to explore alternative options like grants, scholarships, and regional center assistance.