There are a number of complexities associated with buying a new car; purchasing your new Cadillac in Naperville knowing you have a pre-approved loan can make the negotiations easier and simpler. When a buyer enters the showroom knowing in advance that the financing is all under control, he or she can focus exclusively on the vehicles features and price.
Why get a pre-approved car loan?
A pre-approved loan is a way to help yourself, you know what lenders are willing to extend to you and with this knowledge you have negotiating power. It is not mandatory that you accept a pre-approved loan, it does however tell you what car you can comfortably afford and when you sit down to negotiate you can act as a cash buyer and you will be fully aware of what the cost of money is.
Loan pre-approval is good for a number of reasons, which are specific to buying a new Cadillac in Naperville:
Price negotiation: Your chances of negotiating a better price on the car are improved when you know your loan is pre-approved. Many dealers tend to focus their attention on the monthly amount, they tend to go to extremes to make this amount something that you can afford. With a pre-approved loan the amortization amount is of no consequence to the dealer, there are no games to be played. The dealer can focus his attention on negotiating a price, which is fair for both parties.
No surprises: With pre-approval you know what you can pay for your Cadillac in Naperville. Your lender will have analyzed your credit standing as well as your existing finances and tell you exactly what loan you qualify for. If you enter into negotiations without a pre-approved loan you may get a few unpleasant surprises. You may end up spending a lot of the dealers and your time only to find out that the car you want is simply not available based on your budget. Keep your eyes on what you know will work, not what you hope will work.
No back office: With money in hand you can focus all your attention on the new Cadillac in Naperville and the corresponding buying process regards price alone, not financing as well. The dealership will be happy to deal with your lender to complete the process; dealers are paid for the cars they sell by different sources all the time, including banks and credit unions.
When you wish to purchase a new or pre-owned Cadillac in Naperville you are invited to visit Hawk Chevrolet Cadillac of Joliet. You can arrange your own financing or Hawk can arrange it for you. Contact us for more information.