Perks of Obtaining a Pre-Approval

Apr 26, 2018, 08:41 AM by Nuvision Credit Union  

Son with Father in Auto
When shopping for a vehicle, timing can be everything. Because timing is so important, it’s a good idea to get pre-approved on a vehicle loan before stepping foot in a dealership and locking-in a deal.

Applying for a pre-approval can help you shop with confidence. A sales person who knows you have a check in hand may be more interested in cutting a deal on the spot. The whole point is that, with a pre-approved car loan, you’re the one in the driver’s seat. Here are a few perks to getting an auto pre-approval:

1. Know How Much You Can Afford

    • The ability to set a realistic budget based on the approval will help you adhere to your budget regardless of the dealer’s sales pitch.

2. Gives you negotiating power

    • Since your financing isn’t tied to the dealership, you can take that pre-approval to any car dealer in town, and they know it.
    • And with a pre-approved car loan offer in your hand, you’ll have a set price you don’t want to stray from.

3. Better Interest Rates

    • Knowing and understanding your interest rate before shopping gives you more power.

4. Simplifies the dealer experience

    • You will be treated more as a cash buyer, meaning you can focus your energy on negotiating price versus the loan itself.

To make the process even simpler, Nuvision is hosting a 2 Day Pre-Owned Car Sale!

Join us on Saturday May 19 from 9AM-6PM and Sunday May 20 from 10AM-5PM.

Car Sale