Is It Important to Be Pre-Approved for a Car Loan?
Having a car is essential for everyday living from going to work to making trips with family or visiting friends. If you’re preparing to purchase a new or used vehicle, you need to get pre-approved for a car loan before you make your way to the dealership. You want to get the best deal possible so it is important take the extra time to do some homework before making a move.
Benefits of Getting Pre-Approved for a Car Loan
You’ll know what you can afford
Getting pre-approved for a car loan helps you set a realistic budget without the pressure of succumbing to a dealer’s sales pitch. Your lender will run a credit check helping you know exactly how much you can afford and what interest rate will be applied to your loan.
You can get a better interest rate
It will help you secure the best interest rate possible as with a pre-approval, you can easily tell if a dealer is offering you a good deal. This can help you save thousands of dollars over the life of your repayment term.
Gives you leverage at the dealership
Showing up at you dealer’s with a pre-approval check or coupon shows that you are a ready-to-buy customer putting you in a much stronger negotiating position. The salesman is likely to take you seriously as he/she knows that you can take business elsewhere if your requirements aren’t met.
Enjoy flexible auto loan options for new and used cars today! At Bragg Mutual FCU, we help our clients get pre-approved for an auto loan, which allows you to become a better negotiator and move one step closer to purchasing your car. Learn more about auto loans through Bragg Mutual FCU and apply now at braggmutual.org/auto-loans or call 910-222-1500 to speak with one of our loan officers.
*Subject to credit approval. Rates disclosed reflect our best rates and may be different based on credit underwriting or services used. All loan rates are subject to change without prior notice. The information posted here is a service to our members. Although BMFCU strives for information accuracy, we do not guarantee or warrant information posted here.