Getting pre-approved for a loan has its advantages. Continue reading for four ways an auto loan pre-approval will be beneficial for your wallet!
1. You will know what you can afford. A pre-approval will tell you exactly how much car you can afford, simplifying and quickening your search.
2. You won’t be taken for a ride. When you are unsure how much you can spend on a car, the dealer may try to sell you one that costs more than you can really handle.
3. You will be taken seriously. A car dealer will take you more seriously when you wave that pre-approval in their face.
4. Secure the rate and financing terms you desire. When you are making the deal for your purchase, there are bound to be some confusing moments as things come together. Some dealers use this as an opportune time to upsell warranties, insurances and other add-ons. While these things require consideration, it is too easy to tack the costs onto a loan without considering how it will affect payment and overall cost.
As a SeaComm member, you may already be pre-approved for a new or used auto loan through our loan pre-approval program, LoanEngine™! You can view and accept loan offers specifically designed with you in mind. If you qualify for a pre-approved offer, you’ll be presented with it through our SeaComm Mobile app or NetTeller™ in the “My Offers” tab, via email, and/or a letter through the mail. Click here to login to your NetTeller™ to view your current offers!
If you don’t have any offers at this time, be sure to check back every 60 days or visit your local SeaComm branch to apply.