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A loan approval process should take anywhere from 1 day to 1 month, depending on the size and type of loan applied for, as well as the credit risk and underwriting needed for the borrower. loan approval process should take anywhere from 1 day to 1 month, depending on the size and type of loan applied for, as well as the credit risk and underwriting needed for the borrower.
Auto loan approvals are good for 60 days. At the end of your 60-day approval period your application will expire and you will need to submit a new loan application.At any time during the approval period, you may request an AutoDraft, if you are purchasing a vehicle from a licensed auto dealer.uto loan approvals are good for 60 days. At the end of your 60-day approval period your application will expire and you will need to submit a new loan application.