Getting Pre-Approved for a Car Loan Has its Advantages

Sep 27, 2018, 14:33 PM by Nuvision Credit Union  

Thinking about getting a new car?

Before you ever step foot in the dealership, you should seriously consider getting pre-approved for an auto loan. Most dealerships aren’t going to tell you this, but getting pre-approved for an auto loan puts you in control of the situation and gives you the power to negotiate a deal that’s right for you, not the dealer.

Once you get pre-approved for a car loan, you’ll be able to start shopping for a car that meets your needs and preferences. You will know the total amount that you can spend along with the interest rate and repayment terms for your loan.

Here are a few benefits to obtaining a loan pre-approval:

  • Helps determine your budget

You’ll know how much you can afford to spend before you even start shopping. When the salesperson tries to sell you a newer and more expensive car, you will feel more confident about declining that offer because you know how much you can comfortably spend.

  • Negotiating power

Knowing your interest rate gives you the power to negotiate because if the dealership wants to finance your car, they will have to provide a better rate than your pre-approval.

  • Saves you time

Knowing how much you can spend means you can skip the cars that are out of your price range and budget.

At Nuvision, the pre-approval process is fast and easy. Just complete a brief, no-obligation application, and you will be on your way.  Get started click here.

Plus, Nuvision is hosting a Car Sale on Saturday October 20 from 9AM to 6PM and Sunday October 21 from 10AM to 5PM.

OCT CAR SALE

 

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