{"id":10237,"date":"2022-12-07T16:48:45","date_gmt":"2022-12-07T16:48:45","guid":{"rendered":"https:\/\/loans.tiida-nissan.ru\/?p=10237"},"modified":"2022-12-08T18:40:26","modified_gmt":"2022-12-08T18:40:26","slug":"how-a-pre-approved-car-loan-could-fund-your-post","status":"publish","type":"post","link":"https:\/\/loans.tiida-nissan.ru\/how-a-pre-approved-car-loan-could-fund-your-post.html","title":{"rendered":"How a pre-approved car loan could fund your post lockdown vehicle purchase"},"content":{"rendered":"

\"How<\/div>\n<\/p>\n

Been holding out to buy a car once post-lockdown? Well, it may be time to think about getting pre-approved for a car loan.<\/p>\n

Not only could this speed up the process of buying a new or used vehicle, it can give you the peace of mind that you have already been approved for lending from a car loan provider.<\/p>\n

Plus, it can give you a better idea of what car prices you can go for as well as how far you need to go if it comes to negotiating the price. <\/p>\n

But what is car loan pre-approval?
<\/h2>\n

Car loan pre-approval is when a lender conditionally agrees to loan you money before you purchase a vehicle.<\/p>\n

Note the word \u2018conditionally\u2019. This means that the loan isn\u2019t set in stone, rather the lender sets conditions in order to fully approve the loan for the purchase of a car. Conditions may include things like loan limits and vehicle types.<\/p>\n

It\u2019s also important to remember that pre-approvals only last for a certain amount of time before they expire – in Australia that\u2019s usually around one to three months.<\/p>\n

So with this in mind, if you are planning to go car shopping post-lockdown it may be a good idea to have a look online and see what\u2019s available within your price range right now. That way you will have done your research and won\u2019t waste time once you\u2019ve been pre-approved. <\/p>\n

Do pre-approvals affect credit score?
<\/h2>\n

Like all lending, pre-approvals can impact your credit score. The golden rule when applying for a loan or pre-approval is not to make multiple applications at once. Other lenders and tax reporting agencies may see this as a negative.<\/p>\n

Remember, to be granted pre-approval on a car loan you need to have a healthy credit rating as it gives a potential lender the indication that you are a trustworthy borrower. So if your credit score isn\u2019t looking good right now, it may be worth focusing on repairing it by paying off your current debts, before seeking out more forms of credit. <\/p>\n

So wait, does pre-approval guarantee a car loan?
<\/h2>\n

As mentioned, in the case where a borrower receives pre-approval, there is no guarantee of a car loan.<\/p>\n

Some of the reasons someone may not receive lending after pre-approval: <\/p>\n