Ah, the excitement of car shopping. You test drive a beauty or two, fall in love, then sign on about a million dotted lines before taking your baby home not too long after. It’s a predictable process, but taking the time to rethink a few of those dotted lines can save you money and time in the long run.

Securing a loan beforehand is not as much of a hassle as you might think, and it’s in your best financial interest. Getting pre-approved for a set loan amount not only keeps you within your budget but may allow you to get lower rates. Here’s how:

Step 1: Find a Reputable Lender

First and foremost, find a lender you can trust who also has competitive rates. A local credit union like Advantage works within the community for the best interest of community members. They also offer the ongoing personal attention and service that you deserve.

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Step 2: Secure Pre-Approval

Reach out to the lender for pre-approval, whether via phone, online application, or in person. (Advantage CU makes all three friendly and easy!) The lender will check your credit to see how much you are qualified to borrow, and at what interest rate. You will also iron out details like the down payment and loan terms. The shorter the loan, the better rate you will get!

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Step 3: Find a Dealer

Find a reputable dealer you feel comfortable supporting. Referring to local reviews and word of mouth can give you a clue as to which one will serve you best. By showing up to the dealership appointment with pre-approval paperwork in hand, it puts you in the driver’s seat in no time! Shop with confidence that you’re able to drive off with your dream car. 

Step 4: Drive Home Your Dream Car

With fewer dotted lines to sign, drive off into the sunset with the car of your dreams in no time!  

Advantage Credit Union empowers you to shop for a car with the peace of mind that you already have a locked-in rate and solid budget. Learn more about auto and personal financing today!