Before you begin car shopping, make time to get pre-approved for your auto loan. Getting pre-approved for an auto loan helps take some of the stress out of the car-buying process and puts you in the driver’s seat at the dealership.


Here’s why:


1. Set a realistic budget. Getting an auto loan pre-approval gives you an idea of how much you can afford to spend. Knowing your interest rate and how much you can comfortably spend ahead of time will help you feel more confident in your vehicle search.


2. Have more freedom. With an auto loan pre-approval in hand, you’re not tied down to any one dealership. Getting pre-approved for an auto loan gives you more time and freedom to shop around. You can visit multiple dealers and make sure you are getting the best deal on the vehicle you want.


3. Strengthen your negotiating power. When you walk into a dealership with your pre-approval in hand, you are showing the dealer that you are ready to buy and can take your business elsewhere if they do not meet your requirements. This allows you to more effectively negotiate the price of your vehicle.


4. Secure the rate and financing terms you desire. When you’re making the deal for your purchase, there are bound to be some confusing moments as things come together. When being presented with options to purchase warranties, insurances, and other add-ons, take time to read and understand what is being covered and what impacts these products may have on your monthly payment if you decide to finance them into your loan.


Texans CU offers great rates on vehicle financing and low cost, full-protection options to safeguard you and your new vehicle. Check out our auto loan rates and products to see how we could benefit you.