Difference between revisions of "Get Pre Approved for a Car Loan"

For this reason, it is often best to get your car loan pre-approved through a bank, credit union, or online lender before you set foot on the dealership lot. With pre-approved financing, you will enjoy similar benefits as if you were paying by cash or check:  better negotiating power, a more streamlined buying process, and potentially reduced financing fees.

For this reason, it is often best to get your car loan pre-approved through a bank, credit union, or online lender before you set foot on the dealership lot. With pre-approved financing, you will enjoy similar benefits as if you were paying by cash or check:  better negotiating power, a more streamlined buying process, and potentially reduced financing fees.

== Steps ==

== Steps ==

#  Check your credit report for errors or inaccuracies.  The FTC has found that 26% of consumers have at least one error on their credit reports, and 5% have errors that lead them to either be denied credit or pay higher rates of interest on financial products like auto loans<ref>[http://www.ftc.gov/opa/2013/05/fcra.shtm FTC:  Credit Report Accuracy Study]</ref>. For this reason, it is important to request your credit report, check it for errors, and dispute any errors you find.  The FTC has found that in about 50% of cases, this leads to an increase in one's credit score.

#  Check your credit report for errors or inaccuracies.  The FTC has found that 26% of consumers have at least one error on their credit reports, and 5% have errors that lead them to either be denied credit or pay higher rates of interest on financial products like auto loans<ref>[http://www.ftc.gov/opa/2013/05/fcra.shtm FTC:  Credit Report Accuracy Study]</ref>. For this reason, it is important to request your credit report, check it for errors, and dispute any errors you find.  The FTC has found that in about 50% of cases, this leads to an increase in one's credit score.