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Why Getting Preapproved is Empowering

Why Getting Preapproved is Empowering

We have all been there, bought a car and found out that it was not worth what we paid for it. For those that have been there, you learn quickly why getting preapproved is empowering.  You need all the help you can get when it comes to buying a car. There are a lot of people out there that will take advantage of you, including your cousin, uncle, or neighbor. Make sure you have all the tools before you go car shopping. These tools help you get the best deal on your car.

Preapproval is hard, right?

It is simple to get preapproved for a car loan at your local credit union. And preapproval means, you’ll know what size loan you qualify for, and keeps you on budget. And you will know what kind of rate you’ll pay, which is better than most car dealerships will give you. It gives you the confidence to know what you can afford and empowers you to negotiate.  It also lets you know when to walk away and find a better deal. 

Applying for an Auto Loan with Elevate Credit Union is quick and easy. Come into one of our branches, give us a call, or even apply online. To find out more and apply online, click here: Elevate Auto.

To apply for preapproval, you’ll need to have a few things ready:

  • Name and address
  • Social Security number
  • Driver’s license number
  • Employer information (name, hire date, gross income)
  • Current housing information—monthly payment, time in current residence

If you have questions about how much you can afford or how financing works, we are happy to help.

Preapproval letter

Your preapproval letter is key and is a great advantage. Because, it shows car sales staff that you’re a serious buyer. And the salesmen also know what vehicles are in your price range, helping to stop up-selling. It removes the pressure of negotiating financing contracts at the dealership. It allows you to focus your attention on finding the right vehicle at the right price. And, if you need another incentive, our low auto loan rates can get you on a faster track toward making your dream car a reality.

Call, go online or stop in to Elevate Credit Union today. We’re here to help with all of your vehicle loan needs.