Most of us walk into a dealership when we want to buy a car and the dealers make it convenient by offering on site finance to approved applicants and in some cases you may be able to drive the car the same day! Sounds awesome right?
The devil is in the details
While there is no denying that the above scenario is very convenient you may not be able to negotiate a good deal on the finance as your focus is driving the car out at the earliest and not on the finer details of your loan. Well as they say the “devil is in the details” that’s why we recommend that you have your finance pre-approved before you go Car Shopping.
Finance Pre-approval
Wouldn’t you like to have the certainty of knowing how much you can borrow and what your repayments and other terms of the loan are before you choose a car? With a pre-approval it is more than likely that you can negotiate a better deal as sellers / dealers know that the car will be sold as your finance is sorted. It’s a WIN – WIN
CarBeagle offer a free Finance Score tool which gives you a personalised repayment and interest rate based off your personal situation. Its 100% obligation free and can help you get started. Try it for free here: Finance Score Tool
Some of the benefits of getting your loan pre-approved
- Certainty of knowing how much you can borrow and what your repayments and other terms of the loan are before you choose a car
- It takes 1 business day to get the loan pre-approved once all the paperwork is submitted to the lender, allowing you to focus on finding your dream car. Once you have finalised the car all we need is the tax invoice from the dealer.
- With a pre-approval it is more than likely that you can negotiate a better deal as dealers know that the car will be sold since your finance is sorted
- Since we have 20 different lenders as compared to 1 or 2 that most dealerships have we can offer your more options and give you the choice to select a loan that best suits you
- Since we are not a car dealership there is no pushy sales techniques involved. Our sole aim is to find you the best car loan based on your circumstances
- Even if you like a car that is more than the approved amount, depending on your borrowing capacity we can always get the higher amount re-approved.
You have to be aware of the fact that most dealerships will only release the car after they receive clear funds in their a/c. This may cause a delay by 1 – 2 days depending on their bank. This is a short term pain for a long term gain. There have been instances where they have released the car on confirmation of settlement but this varies from dealer to dealer.
Car Shopping
At FinanceBeagle, our finance professionals have access to over 20 different lenders and will tailor your loan to suit your specific needs. Speak to us before you head out Car Shopping this weekend and buy your next car with the peace of mind knowing that you have a good finance deal.
Get in touch with us to see what is the right solution for you. Call us today to have a chat with our friendly staff.
