Auto Loan pre-approvals have benefits

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Auto Loan pre-approvals have benefits
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• Its easy to visit a car dealership and start
  negotiating for your dream car. But if you dont
  have enough money down, the dealership will hold
  all the cards at the bargaining table. Getting
  pre-approved by a financial institution, however,
  puts you in charge of the negotiations if both
  sides cant agree on the price of the vehicle.

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Secured Rate

• By going into the dealership with a pre-approved
  loan with a set interest rate, youre telling the
  dealership youve done your homework. If the
  dealership wants you to go with an in-house loan,
  it will either have to match or beat your
  interest rate if it wants your business. In some
  cases, dealerships are able to do so but if they
  cant, you know where to go for your loan.

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Secured Amount

• The dealership cant entice you to buy a vehicle
  out of your price range if you already know what
  your maximum limit is and how it affects your
  budget. If your pre-approval amount is 30,000,
  you should shop for a car in the 20,000 to
  25,000 range. Thats because youll also have to
  consider taxes, title, registration, insurance
  and other possible fees that will be tacked on to
  the final price.

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Auto loan In India
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Flexibility Of Going Anywhere

• This is easy enough. If a dealership wont work
  with you over Auto loan financing or refuses to
  meet your final price, just leave. Visit another
  dealership that will work with you. Keep in mind
  dealerships must make a profit, so it may be wise
  not to lowball them to the point they ask you to
  take your business elsewhere.

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Source https//www.traviscu.org/my-life/blogs/fin
ancial-wellness/september-2015/auto-loan-pre-appro
vals-have-benefits/
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