It's pretty common for people to buy a car or truck using an auto loan. So, it makes sense that people are interested in getting the right auto financing. That's why people look to get pre-approved for their auto loans.

When seeking an auto loan, people want to:

  • Know that they can get a loan
  • Secure an attractive rate for their auto loan
  • Have auto loan options from sources other than the dealership
  • Have an understanding of what they can afford going into the purchase process

Can You Get Pre-approved for an Auto Loan?

Here's the short answer: Yes, people can be pre-approved for auto loans. However, the process for getting pre-approved for an auto loan won't be the same for everyone.

Like all auto loans, results may vary. Some people will get a better interest rate than others and your interest rate will vary based on several factors. Whether you have the best interest rate available or an average interest rate, the benefit of pre-approval is knowing what you can afford. This allows you to make a more informed decision when buying your car or truck.

When you get pre-approved, your credit union will give you the maximum amount you can spend. Some credit unions, such as Visions FCU also have a list of auto dealer partners that may be helpful to you as you look for your new vehicle.

Pre-approval for an auto loan really provides several benefits:

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  • Establishes your budget
  • Allows you to shop in a similar way to a cash buyer
  • Simplifies the buying process
  • Helps reduce stress (if buying a car stresses you out)
  • Saves time
  • Provides solid options outside of dealer financing

With all of these solid benefits, you may want to explore getting pre-approved for your auto loan. Getting pre-approved may be simpler than you think. You can apply for pre-approval at your credit union or online.


If you have any questions, there are several lending experts available to help you through the process. Contact us today. We're happy to help.