| Before you take that first step into that dealership | | | | delaying any part of the process. |
| showroom, you should get pre-approved for that | | | | Once you accept a lenders offer on the loan, a blank |
| financing up front. There are many benefits to getting | | | | check will be available to you. Some lenders actually |
| your financing taken care of beforehand. By far the | | | | give you the opportunity to down load the check along |
| biggest being the tremendous savings you will see | | | | with all of the other loan documents. Just because you |
| both on the purchase price you pay for the vehicle | | | | now have a check that can be used for the purposes |
| and the financing that you secure with an online lender. | | | | of buying a car or truck, you actually do not have a |
| Before you start applying, do some homework on both | | | | loan until you complete the check at the dealership. |
| yourself and a potential online lender. Start by | | | | Until then, you are under no obligation to do anything |
| accessing your credit report. This will be a snap shot | | | | with it. |
| of you as the lender will see it. Mistakes can be made | | | | Knowing just how much you have to spend before |
| on some of the information reported and you will want | | | | you start looking for that car enables you to stay |
| to eliminate any of them before you apply. Take time | | | | within your budget better. When dealing directly with |
| to examine it carefully and take the necessary steps | | | | the lender instead of a middle man like the dealer, you |
| to have mistakes corrected properly. The credit | | | | will also know all the details about your loan that a car |
| reporting agencies have processes and forms for you | | | | dealer may be less reluctant to share with you if you |
| to follow to expedite this process. Remember that the | | | | get financing through them. Taking this pre-approved |
| lender will base the interest rate and loan terms based | | | | auto loan check to the dealer will quickly give you an |
| on the information they see on your application and | | | | edge in your negotiations with them. Since there will be |
| credit report. They are not just looking to see that you | | | | no question as to your real interest in buying a car, you |
| have paid your bills in the past but also how much | | | | can get better prices because they like money right |
| outstanding debt exists, whether there are other car | | | | away. As a cash buyer, you have better bargaining |
| loans on your profile and the possibility of your | | | | power as well as you sit down to work through the |
| repaying this loan based on your stability and income. | | | | pricing on your new vehicle. |
| Next, shop around for your pre-approved auto loan. | | | | Getting that pre-approval before heading to the |
| Most lenders offering car loans online have a very | | | | dealership will save you money. You can get more |
| simple application that can be completed in just | | | | information about obtaining a pre-approved car loan |
| minutes. In fact with many of these lenders you can | | | | and other useful negotiation tips online at OpenRoad |
| apply, get approved and buy the car that very same | | | | Lending. |
| day. Be sure to follow the instructions closely to prohibit | | | | |