Avoid Being Put on the Spot When Buying a Car

1. Avoid Being Put on the Spot When Buying a Car Be Pre-Approved For Auto Loans One of the biggest profit ploys played by auto dealers is their finance departments. They get you on the lot and excited about a car. Then they steer you into the finance office and their profit machine goes to work. If you took a few minutes right now to get pre-approved online for auto loans you would be the one in the power position, not their finance department.Pre-Approved Auto Loans Gives You Negotiating CloutWhen you walk onto a car lot knowing you can buy the car today, you are in charge. You can dictate the price you wish to pay. You can avoid all of the tactics of “we should discuss it with finance”. You can offer a price and walk away from the lot with confidence if you choose. You know you have the loan ready to go for the next lot down the street, too.Even if you are getting ready to start shopping tomorrow you have time to be pre-approved. You can fill out a simple form online, have your application reviewed, and start having lenders calling you with their offers within hours, sometimes within minutes.You Have Bad Credit and Were Planning To Shop the Buy Here-Pay Here LotsOnce again, when you walk onto these lots you lose all negotiating power. Their buy here-pay here financing is usually the most expensive kind. Even someone with bad credit or a bankruptcy on their record can be pre-approved for auto loans. Keep in mind, if your credit score is low or you have other credit problems, your rates will likely be a little higher. You may be required to pay a larger down payment. What you get in return though is amazing. Your rates will still be lower than you would have been offered on the lot. You will have the ability to negotiate price since you have a loan approved. You are in the driver’s seat, not the salesperson.

3. Is It Expensive To Get Pre-Approved for A Loan?You pay nothing for applying for a loan with AutoLoanSpot a clearing house which connects you with lenders. You use fill out their simple form online and submit it to them. They will review your application to make sure you did not leave out any critical information and then forward it to their lending partners. You can expect these partners to start contacting you quickly. You have spent nothing, but are discovering what your best deal on a loan will be. Will I Get Approved?There is no way to guarantee anyone will be approved for auto loans, but look at this interesting statistic. When AutoLoanSpot sends out loan applications for their clients they get approvals on 98% of all applications. The odds of you being approved are extremely high. Ask yourself a simple question. Would you prefer to go through a pre-approval process online from your own home, or would you rather wait until you are sitting on the lot? By applying now you avoid any embarrassing questions or being turned down on the lot. You have confidence in buying because you have already been approved for the auto loans you need.