Why A Pre-Approved Car Loan Makes Sense

12877545_lShopping for a new car can be quite a complex operation and going to Chevrolet dealerships in San Antonio with a pre-approved car loan can make your life a little easier. When a new car buyer walks into the showroom with the financing all looked after well in advance the buyer can focus exclusively on the features and price of his new car.

Why get a pre-approved car loan?

Whenever you get a pre-approved loan you are helping yourself. You quickly find out what lenders are willing to offer you and when you have this knowledge you gain negotiating power. Just because a lender pre-approves you for a loan does not mean you’re obliged to take it up but it does allow you to know how much you can afford, you can go into Chevrolet dealerships in El Paso and act as if you are a cash buyer and you will understand what the cost of money is.

Loan pre-approval is good for a number of reasons which are specific to buying a new car:

Price negotiation: When you walk into the dealership with a pre-approved loan your chances of negotiating a better price are improved. Many dealers focus on the monthly payment, making efforts to make it what you can afford. When you are pre-approved for the money the amount you pay is of no business of the dealer so there are no games that can be played, all the dealer needs to do is to negotiate a price which is acceptable to both you and the dealer.

No surprises: Once you are pre-approved you will know exactly how much you can afford to spend on a new car. The lender will analyze your credit standing as well as your financial situation and tell you what loan you qualify for. If you go into negotiations and you are not pre-qualified for a loan you may get some unpleasant surprises. You may spend an inordinate amount of your time and the time of the dealer only to find out that you are in over your head. Maintain focus on what you know will work, not what you hope will work.

No back office: When you have the money in hand, which is really what a pre-approved loan amounts to, you can focus on the car and the purchasing process regards price. Chevrolet dealerships in San Antonio will be happy to work with your lender to complete the funding; dealers are paid for their cars all the time by many different sources including banks and credit unions.

If you are looking for Chevrolet dealerships in San Antonio then you are invited to visit the showroom of Wommack Chevrolet where the friendly sales associates will show you the Chevy of your dreams.

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