Do I need pre-approval to get an auto loan?

You don't need to get pre-approval, but it's highly recommended. Pre-approval gives you a clear idea of your budget, helps you compare offers and interest rates and strengthens your negotiating power at the dealership. It also reduces the risk of surprises later since you'll know what you qualify for before you start shopping.

Do I need a cosigner to get an auto loan?

You don't usually need a cosigner, but having one can help if your credit history is poor or limited. A cosigner with strong credit can improve your chances of approval and help you qualify for a lower interest rate. If you meet a lender's income, credit and debt-to-income requirements on your own, you won't need a cosigner.

How much should I put down on a car to qualify for an auto loan?

There's no mandatory amount, but most lenders recommend putting down 10% to 20% of the vehicle's purchase price. A larger down payment reduces the amount you need to borrow, lowers your monthly payment and can help you qualify for better rates, especially if you have fair or limited credit. Some lenders offer $0 down options, but these typically come with higher interest rates and stricter approval criteria.