- Find out what you can afford vs. what you want! Once you are already at the dealership or car lot and that shiny, new, fuel efficient car is just screaming your name, you need to know exactly what you can afford. By stopping in to your credit union to get pre-approved first, you will arrive at the dealership knowing what monthly payment, interest rate, and top dollar is realistic for you. That knowledge will make it easier to sort through all of the tempting "deals" that you will be offered to test drive.
- Shop with confidence! Knowledge is king, and being armed with all of the information that getting pre-approved will give you will allow you to walk onto a car lot with confidence. Utilizing payment calculators, like the one on Honor's website, will let you know what financial situation you would be looking at for each vehicle you like.
- Minimize buyer's remorse! Getting pre-approved will help you get into a loan option that best fits your needs from the beginning. Understanding your options and choosing the one that best fits you will help you avoid the purchase regret that you might of faced otherwise.
The best loan is a paid off loan! That is the motto that we live by, and getting pre-approved before you head out shopping will help you make the most out of your money! You can listen to the most recent Mason Jar Monday on the importance of getting pre-approved here.
Comment on this post, or follow us on twitter (@honorcu) and use #askhonorcu to get involved! You can also comment with the topic you want to see discussed next week! It's your money, and we want to talk about things you care about!
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