How to Get Pre-Approved
Whether you apply online or in a branch, first you will need to consent to having your credit pulled. You will need to provide personal information like your Social Security Number, Driver’s License information, and other personal financial information for both you and a co-borrower, if applicable.
If your auto loan application is approved, ALLIANCE will let you know exactly how much you are approved for and under what terms. If you are happy with your terms, ALLIANCE will provide a Pre-Approval Letter. This letter will be like a blank check that you take with you to begin looking at vehicles.
Why You Should Get Pre-Approved
• Having your pre-approval letter will shorten the loan process significantly when you’re ready to purchase a vehicle.
• Your pre-approval will tell you exactly what you can afford. This way, you’ll avoid being disappointed when you have your heart set on a certain vehicle that doesn’t fit into your budget.
• You will not be taken for a ride by the car dealership. Dealerships want to make the most money they can so instead of focusing on your maximum budget, they will focus on what you can afford in payments. This leads to interest rates adding up and you paying much more for a vehicle than it’s worth over a very lengthy time period.
• You will be taken seriously by the dealership because, with your pre-approval, they will know that you have already taken the first steps toward buying a car. They will be sure to show you cars that you are interested in and that fit in your budget because they want to have your business over a different dealership.
• ALLIANCE is for people, not profit, and we will work with you to provide the best auto loan for your personal wants and needs. We want you to walk in armed with everything you need to make the purchasing process for a new vehicle easy and enjoyable.
• If your credit isn’t where it needs to be to get the car you want at a price you can afford, we will work with you on putting together a plan to get you there.
If you are in the market for a new vehicle, APPLY TODAY. At ALLIANCE, we will take you further, faster!