The nuances of car loan pre-approval

Whether you are in the market for a new or used car, you should be armed with the knowledge that you need to make the process smooth and hassle free. Since financing a loan for your purchase, be it a new or used car, is probably something you are interested in, taking that little extra time online to get pre-approved will make for less stress down the line. Does the term pre-approved sound familiar? Well, we have probably all received offers for credit cards that scream ‘pre-approved’. So, in the context of a car loan and financing, what exactly does it mean, and what does the process entail?

Pre-approval can be done online using your chosen bank’s website or specialized portal, or when you get on the phone with a representative, answering some questions and finding out the answer. One great reason to apply for pre-approval is that you will get an idea of how much money you can get as a loan, towards your car purchase. Pre-approval, unlike the loan or finance approval, does not require you to have chosen a car, make, model, and narrowed down your choices or reached an almost final decision on which vehicle you want. Pre-approval application and approval takes place without the need for that level of information or choice having been made. The advantage, of course, is that you can get a good indication of how much you have to put down, and also what kind of financing you can expect. This in itself will be a deciding factor for many in figuring out what type of car and the price range they can afford and should be looking for.

It sounds too good right? So, what are the steps of getting a pre-approval? Most banks and finance companies will ask you to fill out some basic information online, using a form with a series of questions. And generally you won’t need to devote more than about 5 to 10 minutes to this endeavor. Of course, an integral part of getting pre-approved is providing credit history, and the information needed for the agency to run a credit check, so keep that information handy. Next, if you get pre-approved, and hopefully you will, you will receive a letter of confirmation from the institution, which will state the amount you are pre-approved for, and how you should go about availing yourself of the pre-approved loan.

YOU MAY ALSO LIKE

  • Current price deals on the Buick Encore
    Ranking third in a list of dozen luxury compact sports utility vehicles (SUVs), the 2017 Buick Encore is an extremely customer satisfying vehicle. Spacious on the inside, yet small enough to maneuver in tight spots, this is a luxurious five seater that costs a minimum of $22,990 for its primary model. The Buick Encore is the best its category of luxury compact SUVs, but it is an expensive SUV for what it offers. The moment sales dip for this reason, because it is high priced, hurry to the nearest dealer in your local area. He would be desperate to take vehicles off his inventory profitably. Strike bargains with him. Negotiate ruthlessly if it is an over-the-counter, quick paying purchase you are making, else if you are going in for financing, get a good deal on your interest rates or loan period or both. The 2017 Buick Encore is available in the following pricing structures -
    • At a discount of 15% off MSRP (manufacturer's suggested retail price) on select models of the SUV
    • on a lease of $199 for a 39 month period
    • for a 0% APR (annual percentage rate of charge) for a 72-month loan in addition to an upfront payment of $750
    • and of course, you could pay the full price of the car quoted by the dealer directly as cash or with a credit card or banker’s cheque if you have the available funds to spare.
    Do a thorough research online, via various price review websites about the cost of a Buick Encore 2017 model before you approach a dealer at his showroom. Know what the cost is and prepare to get the best discounts accordingly. The 2017 Buick Encore is ready and waiting. Its costs are flexible and depend on its supply-demand quotient. Anticipate the exact time to reach an agreement and settle on a price acceptable to both the seller and you. And, drive back home in your new Buick Encore.
  • 6 benefits of owning a prepaid cell phone
    Cellphones have become a vital part of our modern day lifestyle. Whether you are a college student or a working professional, you need a cellphone to stay connected with your friends and clients as well. With the advancement in mobile phone technology, various telecommunication companies now offer long-term plans with benefits for consumers. However, it is not important that a high school student will be able to afford a phone plan as well as a working person does. Having a prepaid cell phone implies freedom from undue additional payments and limited calling time. Simply get your phone recharged with talk time or internet service coupon and you are good to go. Postpaid plans might save users with the hassle of getting their phone recharged every time their talk time runs out, but the hefty fees levied on using extra minutes make prepaid a preferred choice for many people. Given below are some of the benefits that a prepaid cell phone offers to the customers in comparison to a monthly plan. You spend less on phone bill Do you need a cell phone to just show off to friends or only for emergencies? If the latter is your preferred choice, then a prepaid phone is the best option for you. No more worrying about paying a hefty bill at the month end from your salary or college expense, prepaid cell phone take care of such inconveniences. A number of companies provide flexible pre-paid plans for consumers which can be customized. So, no need to worry about your phone connection getting discontinued owing to late phone bill payment. Pick the phone and chat with your friends without worries. Safe for your children With the increase in smartphone and social media addiction, it has turned into a debate whether to give your child a smartphone or not. If you are a parent, then it is a good idea to give your children a simple prepaid cell phone to stop them from being consumed by the online world. Here, prepaid cell phones help a lot as it helps you keep track of your child’s cell phone use. Save money on both phone and connection plan Prepaid cell phones are the best option if you are looking for a device that lets you connect with your loved ones. Moreover, with simple services you do not need to purchase an expensive smartphone or have a monthly bill plan. A prepaid plan offers many great features, and you can find the plan that suits your budget and need with ease. Flexible Income The hardest part of having a monthly plan for your cell phone is that you are bound to pay a fixed sum every month, whether you like it or not. The disadvantage is that if you fall into a financial problem, you still have to arrange the money to pay the bill. Hence, having a prepaid cell phone is the best choice for you to avoid paying a hefty amount from your pocket. Simple Life We are living in the digital era where everyone wants to stay online 24*7, even if they have to compromise on spending some real time with friends and family. However, there are still people who have a home landline connection, and at times it becomes essential to have a phone to call during emergencies. What could be better than having a prepaid cell phone with calling and messaging features to accomplish the task for you? Worried about Privacy You might not realize it, but a smartphone with top features and a monthly plan is a goldmine for a hacker. However, if you have a prepaid cell phone with simple features of calling and messaging, then this concern can be cut-off from the list. Also, prepaid cell phones with simple features are the best for those concerned about their privacy. Hence, having a prepaid cell phone has its set of benefits if you are looking to stay away from paying hefty fees every month for staying connected.
  • Know about maintaining your Weber gas grills
    Do you own a Weber gas grill? Then you undoubtedly enjoy great days and nights that are graced by perfectly grilled food. However, amidst all that grilling, it can be easy to forget the most important thing i.e., maintaining and cleaning. It is vital to thank your gas grill for all the love that it showers on you. Well, if you do not know where to start, a grill cover is what you need to get first. Your gas grill, like any other appliance has to be kept protected from external elements such rust, dust, etc. A good quality cover can prevent scum from accumulating over time. If your burners give out irregular flame, it is important to have the burner ports cleaned before the clogging becomes worst. Use a wire brush every one once in awhile and brush the entire length of the tubes to prevent this. Make it a point to clean the grates before every use. You do not want the flavor of the grates to get transferred to your food, right? Heat up the grates for a while and brush off all the ash that are stuck to it. If you think that the grates are too old and chipping off, replacing them is a good idea. Always clean the grease trap. If it gets too full, you are going to have a hard time cleaning spilled grease. In order to maintain basic hygiene levels, you have to always clean the grill after and before use. It is likely that your grill is dusty before you begin cooking. While your meat and veggies secrete many juices that should be wiped off after use, tough oily and greasy stains are stubborn and harder to remove when left uncleaned. Most Weber gas grills feature a table on the side. These tables are likely to have grime and sticky residue due to the food, knives, cooking pots, etc. that accumulate on them during the time of grilling. Use a damp cloth with a mild dish detergent to get this off. Whether you live in a region that snows or an area where the sun shines bright for most times of the year, avoid keeping your gas grill in the backyard when not in use. Constant exposure to the sun or extended periods in stagnant water can cause the body's quality to deteriorate faster than usual. Packing your gas grill for long-term? Have the battery removed out. Batteries can burst if left in for too long and corrode the inside of your grill. Follow these maintenance tips and enjoy a happy grilling experience.
  • How to get a student loans without a cosigner
    A cosigner can be defined as a joint signer of another person’s debt which will become the cosigner’s liability shall the borrower default. Here are a few ways to procure top student loans without a cosigner: Federal student loans: The government of the United States of America offers various loan opportunities, some of which do not require any credit history or cosigner backup. Opting for a federal loan is a good idea when one does not want to involve a cosigner. Federal loans are usually allowed at a low-interest rate and the amount that one has to pay while in school can be subsidized. Private student loans: Private lenders comprise of online lenders and any other companies or organizations that provide loans to students. It is a challenging task to get a private student loan without a cosigner. However, if you have a good credit history, you can apply for this loan and avail it without a cosigner. Student loans with a bad or weak credit history will not be eligible to apply for these loans without a cosigner. Building up of credit: It’s not the most feasible option and also involves a lot of waiting time. You can build up your credit over a period, till it's stable enough to get you a loan without a cosigner. You need to plan and organize everything to build up your credit. More than anything else, you need to be patient. Collateral: You can use anything you own as collateral to get a loan, but through this method, your loan will not be categorized as a ‘student loan’ anymore. If you own a car, you can use it to attain this loan. This way you may not be able to get a loan worth the entire college tuition amount, but it will provide a good sum of money. Collateral loans are usually expensive to pay off, and they are a riskier option when compared to student loans, but if you do not want a cosigner and if no other method works, then you may have to take the plunge.
  • Simple and effective remedies for treating carpal tunnel
    An individual experiences carpal tunnel syndrome when there is a considerable amount of strain present on his/her median nerve. This disorder can occur because of existing health conditions, overexertion of the wrist or pregnancy. If one is suffering from carpal tunnel, the first thing they must do is seek counsel from the doctor. This is because carpal tunnel syndrome can be an indicator/symptom of a major illness. So, it is of utmost importance that you rule out all the risks associated with your current health issues. Here's how you can use simple and effective remedies to treat carpal tunnel syndrome. Use a splint It is quite common to experience pain, tingling or numbness in the hand, right after you wake up in the morning. So, you can use a splint to keep your hand stabilized, so that unconscious movements don't trigger discomfort in your median nerve. If you are confused about when and how to wear the splint, have a word with your doctor to clear any reservations. Unwind It is crucial that you give your hand a break from all the strenuous tasks. If you can't avoid these activities entirely, then ensure that you take small breaks, so that you don't overexert your wrist. Constant stress can lead to permanent nerve damage, which might require surgery for correction, so be cautious. Diet What you eat is ultimately what you are! So, a great diet will significantly reduce your misery in the long run. Include foods that are rich for their anti-inflammatory qualities. This includes fresh fruits and vegetables. Also increase the intake the level of fluids, which means you must have plenty of water and juices. Foods with excessive sugar and sodium can aggravate your carpal tunnel syndrome, so make sure that your intake for any of these elements is in moderation. Also, make sure that you exclude saturated fat, excessively-processed meats and dairy products. Alcohol under any circumstances must be avoided. Massage You can massage your hand gently with essential oils which can ease tension and reduce inflammation. Use oils like lavender, eucalyptus, peppermint, lemongrass, rosemary, etc. Although ensure that you are not allergic to any of these oils. If you are pregnant make sure that you use this remedy only after having a word with your doctor. Hand exercises You will observe an immense amount of improvement in your condition if you practice simple hand exercise on a daily basis. Your doctor will be the best person to recommend you appropriate exercises, based on the severity of your condition.
  • Busting 4 myths attached to flooring peel and stick tiles
    Planning on giving your home a makeover? Then we bet, zeroing on the best type of flooring is one of the most difficult decisions to make. The flooring tiles should render durability while being attractive at the same time. While perusing through the ton of options, you indubitably must have come across the newest kind of tiling option that is the peel and stick tile. One of the most convenient ways to tile your room, a peel and stick tile comes with a high-quality adhesive that can be easily stuck to back up a sturdy vinyl tile or concrete flooring. Like with any other new introduction, there are several myths that come attached with flooring tiles. Here is uncovering of the myths that give peel and stick tiles a reputation: Peel and stick tiles are meant for small rooms - There is a wide misconception that peel and stick tiles are designed to be used in small rooms. However, this does not hold true. You do not have to limit the use of a stick and peel tile to the smaller rooms in your home. They make for great tiles to be used in a large living room or foyer and can beautify the space with different contrasting shades. Not just small rooms, they can give big rooms a classy look too. Not very durable - The most commonly believed myth about peel and stick tiles is that are not as durable as ceramic tiles. Well, this is certainly not true. A peel and stick tile may be cost efficient but that does not take away its durability. They can be used anywhere, even in rooms that are used very often. All you have to do is maintain and nurture your peel and stick tiles and they will stay new as ever for the longest time. Peel off over time - Peel and stick tiles come with a very strong adhesive that keeps the tile in place for as long as you need. There is very low possibility that the tile will peel off over time, especially if you a peel and stick tile from a good brand. Peel and stick tiles do not look attractive - You may hear several times that a peel and stick tile does not look as beautiful as a ceramic tile. However, peel and stick tiles do not hold true to this myth. They come in a smorgasbord of designs and styles that you can choose from. You can pick a peel and stick tile pattern and color that suits the theme of your room.