Ideally, you would pay for your car with cash. That way, you wouldn\u2019t have to deal with loans, payments, or debt. Realistically speaking, however, that is an impossibility for most of us.<\/p>\n
In order to get the car you need for school, family, or work, you will most likely have to finance. Luckily, there are easy ways to get pre-approved for a car loan, which usually carries a much lower interest rate than a personal loan.<\/p>\n
There are many places that you can go to get pre-approved for a car loan, including traditional banking institutions, such as Wells Fargo and Bank of America, and online lenders, such as Capital One. Interest rates and requirements vary by location.<\/p>\n
Keep in mind that the advertised interest rates on websites and advertisements tend to be reserved for those with excellent credit. If you have bad credit or no credit<\/a>, it\u2019s still possible to find a car you love at a price you can afford. Rates will be higher, but there are options available, such as getting a cosigner to lower your rates.<\/p>\n While it\u2019s a good idea to shop around, we highly recommend checking with your dealership first before seeking out competitors.<\/p>\n At Auto Simple<\/strong>, you can easily get pre-approved online. Just fill out the form<\/a> and you\u2019ll get your pre-approval within minutes. Don’t worry, it won’t affect your credit score.<\/p>\n Good Credit?\u00a0Accepted<\/strong><\/p>\n Bad Credit?\u00a0Accepted<\/strong><\/p>\n No Credit?\u00a0Accepted<\/strong><\/p>\n Past Bankruptcy?\u00a0Accepted<\/strong><\/p>\n Once you get approved, you will know how much you can spend on a vehicle along with the interest rate and monthly payments for the loan.<\/p>\n If you don\u2019t know what your credit score<\/strong> is, it\u2019s a good idea to check before seeking out auto loans. Check with your bank. You are normally entitled to one free credit report per year.<\/p>\n Important Note:<\/strong> When you get pre-approved for a car loan, it\u2019s almost always required that you purchase your vehicle from an authorized dealership. Most pre-approved auto loans don\u2019t apply to independent dealerships and private sellers<\/a>. If you wanted to purchase a vehicle from a private seller or independent dealership, you would have to take out a personal loan, which carries higher interest rates.<\/p>\n When you get an auto loan pre-approval, your lender will set a maximum loan amount based on your credit score and other factors. Don\u2019t forget about other expenses, such as fees and taxes. So if you are approved for a $20,000 loan, choose a car that is several thousands of dollars less than that.<\/p>\n When you make regular payments on your auto loan, you can quickly rebuild your credit score. Our goal at Auto Simple is to approve your financing and help rebuild your credit by reporting to 3 major credit reporting agencies every month.<\/p>\n We want to work with you. If you need to speak with us about your loan or payments, simply give us a call and we\u2019ll figure something out together so as not to harm your credit.<\/p>\n Auto loan pre-approvals provide a baseline to compare with other offers. Simply fill out your dealer\u2019s pre-approval application<\/a> first to see what is being offered.<\/p>\n Many dealerships offer competitive financing to simplify the payment process and get customers to finance with them.<\/p>\n When you are pre-approved, you not only have a realistic budget in place, it\u2019s also like having cash in your pocket when you are shopping around for the best car deal. Once you are pre-approved, you can focus on the car-buying process<\/a> rather than worry about down payments, loan terms, and interest rates. Simply ask your dealer what the \u201cout-of-door\u201d or “TT&L” (tax, title and license) price is.<\/p>\n Sometimes, dealerships will allow you to leave the lot with your new car without fully closing out the financing portion of the deal. This is what is known as \u201cspot delivery\u201d\u2014cars are sold \u201con-the-spot.\u201d<\/p>\n Yo-yo financing usually happens to people with poor credit when the deal is made on late nights or weekends, when banks are closed. When the banks open, they review the loan applications and either approve or deny them.<\/p>\n If you left the lot without the bank approving the loan first, you may receive a call from the dealership notifying you that the loan wasn\u2019t approved. This may entail going back to the dealership to reapply for the loan, which normally leads to higher interest rates and a larger down payment.<\/p>\n Subprime buyers (those with a credit rating under 680) are particularly susceptible to dealership scams. You can avoid this situation entirely by getting pre-approved for a loan.<\/p>\n Pre-approved loans save you a lot of time and energy at finance and insurance (F&I) offices, where you will most likely have to sit through several sales pitches. Buying a car is complicated enough without adding a lot of paperwork and travel time to different offices.<\/p>\n Our goal is to provide everyone with the right car, regardless of credit history. With hundreds of cars, trucks, vans, and SUVs, we make it easy to drive away in the car that matches your lifestyle and budget.<\/p>\n To avoid going deeper into debt and possibly getting your vehicle repossessed, do your homework first and make sure you can actually make your car payments. While auto loan pre-approvals can quickly rebuild your credit score, they can also make it worse. Learn how to buy a used car if you have bad or no credit<\/a>.<\/p>\n Read our Used Car Buyer\u2019s Guide<\/a> for more information on the car-buying process.<\/p>\n For a dealership that knows how to treat buyers right, contact Auto Simple<\/strong><\/a>.<\/strong><\/p>\n We carry a large selection of hand-picked, Certified Pre-Owned vehicles, all of which come with a 6 month\/6,000-mile powertrain warranty.<\/p>\n If you have any questions, don\u2019t hesitate to speak with one of our\u00a0Online Specialists<\/a>\u00a0or give us a call:<\/p>\n Chattanooga, TN\u00a0\u2013\u00a0(423) 551-3600<\/strong><\/p>\n Cleveland, TN\u00a0\u2013\u00a0(423) 472-2000<\/strong><\/p>\n Dayton, TN\u00a0\u2013\u00a0(423) 775-4600<\/strong><\/p>\n Dalton, GA \u2013\u00a0(706) 217-2277<\/strong><\/p>\n Follow us on social media for more useful information on buying, selling, and maintaining cars:\u00a0Facebook<\/a>,\u00a0Twitter<\/a>,\u00a0YouTube<\/a>, and\u00a0Google+<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Ideally, you would pay for your car with cash. That way, you wouldn\u2019t have to deal with loans, payments, or debt. Realistically speaking, however, that is an impossibility for most of us. In order to get the car you need for school, family, or work, you will most likely have to finance. Luckily, there are […]<\/p>\n","protected":false},"author":4,"featured_media":3351,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[13],"tags":[38,39,43,56,57,58,83,125,126,258,259,260,393,394,435,436,437,438,439,603,622],"yoast_head":"\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\n\n\n\t\nBenefits of Pre-Approved Auto Loans<\/strong>\u00a0<\/strong><\/h2>\n
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Helps set a realistic budget<\/strong>\u00a0<\/strong><\/h3>\n<\/li>\n<\/ol>\n
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Improves your credit score<\/strong><\/h3>\n<\/li>\n<\/ol>\n
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Allows you to compare interest rates<\/strong><\/h3>\n<\/li>\n<\/ol>\n
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Simplify the buying process<\/strong><\/h3>\n<\/li>\n<\/ol>\n
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Avoid spot delivery and \u201cyo-yo financing\u201d scams<\/strong><\/h3>\n<\/li>\n<\/ol>\n
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Save time, energy, and money<\/strong><\/h3>\n<\/li>\n<\/ol>\n
Why Choose Auto Simple<\/strong><\/h4>\n
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Final Note:<\/strong><\/h3>\n
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