Buying a car can be a long and complicated process. It doesn’t have to be, however. Understanding the pre-approval financing process and how to navigate it can make things a lot easier. Here are some helpful tips from our Mazda finance department.
Check Your Credit Score
The first thing you should do when planning to finance a vehicle is to check your credit score. Lenders will use this to determine if you they will give you a loan, as well as what your interest rate will be.
It may also be in your best interests to peruse your credit report closely to look for errors. If you spot something, be sure to contact someone about fixing it.
Pay Down Your Debt
If your credit score is on the lower side, you should strongly consider raising it, and paying down your debt can be a big help. Consolidating your debt may also be a route to consider taking.
Consider a Co-Signer
If you’re looking to buy a car soon, you may want to think about finding someone to co-sign on the loan with you. As long as this person has a good credit score, this can make it easier to get a loan, along with a more favorable interest rate.
Fill Out the Financing Application
In order to get the financing process started, you should fill out our pre-approval application. This will give you a great idea of how much money you’ll be able to borrow, as well as what your interest rate will be.
Get in Touch with Freysinger MAZDA for All Financing Questions
Any questions about financing or the pre-approval process? Feel free to get in touch with Freysinger Mazda.
