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Pre-Approved loans give shoppers an advantage

Shopping for a new or used car? If you are expecting to take out an auto loan to pay for it, you’ve almost certainly heard about “pre-approved” financing. If not, learning the benefits of getting pre-approved auto loan financing ought to be high on your to-do list.

We all wish we could pay cash for our cars and never have to worry about debt or monthly auto loan payments… In the real world, however, only a small percentage of people are able to save up enough cash to pay for a car in full. The rest of us have to finance.

Getting pre-approved for a car loan is the closest you can come to the perks of paying with cash while not having to save up for months or years in advance.

Your Credit Union can pre-approve your car loan before you head to a dealership!

Besides financing new cars and used cars, the Credit Union also offers loan refinancing. The advertised interest rates you’ll see on web sites are usually for those shoppers with the best credit. But if you have less-than-perfect credit, there are still options. The rates may be higher, but at least you’ll know what you can afford. We even have Certified Financial Counselors available to clean up your credit before it’s time to purchase.

You might not always use your pre-approved car loan, and that’s OK. There are times when the dealer can beat the rate you initially received. But, having that pre-approval puts the rates in context and gives you the flexibility to take your business anywhere you want.

**The annual percentage rates (APR) listed are our best rates. Subject to credit approval. Rate may vary depending on credit score, model year of vehicle, and eligible relationship bonus. APR valid October 1 – October 30, 2015, for loan terms not to exceed 60 mos. Loan estimated monthly payment on 60 month loan at 2.79% APR = $17.97 per $1000 borrowed.