Guaranteed Auto Loan Pre-Approval

If you are like most Americans then buying a car with cash is not an option – you need a loan. You can save yourself a lot of time, hassle and money if you get a pre-approved car loan. With pre-approval you have the money in your hands. You know how much you can spend and you have greater negotiating power with the dealership. Having a pre-approved loan also gives you favor with the dealership. Sure, they like to arrange car loans because that gives them more money. But, with a loan in your hand you are a sure sale! A sure sale is always better for the salesperson than going through all the trouble of trying to secure a loan for you, only to have the lender turn you down.

Getting Pre-Approved Means More Work for You

Getting pre-approval means more work on your part. The monetary savings are well worth the effort! First, you need to set your record straight. Check your credit report for errors, correct anything that is wrong and fix everything you can. Maybe there is an outstanding debt you forgot all about. Contact the lender to see what you can do to remove that from your record. The better you clean up your credit record the better terms you will get. You will qualify for better incentives as well as better interest rates.

You Are Ready to Start Looking for a Lender

Once your credit report is as good as you can make it you are ready to start shopping for different lenders. Read all the fine  print. Sometimes an offer sounds too good to be true – that is because it is too good to be true. Somewhere in the fine print might be a stipulation that just does not suit your needs or an obligation you can not live with. Research lenders carefully. Once you have narrowed it down to 3 or 4 you can research further and decide on just one.

Only Apply for a Loan if This is the Lender You Really Want

Sending out 5 or 6 applications is not a good idea. Decide which lender you want to deal with before you send out any applications. Just about every potential lender will want to look at your credit report. The more inquiries into your credit history, the worse it looks because lenders become suspicious of  too many inquiries. Some sites boast a no credit check auto loan. Beware of these, there may be a catch. Usually these lenders have a slew of hidden costs and fees. They are taking a big risk by not checking your credit history, so they have to cover their back in some other way!

Free Auto Credit Score

Know YOUR Auto Credit Score?

Free Credit Score

Auto Loans

Get Financed Regardless of your Credit