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What are The Top Benefits of Prequalifying? 

Are you thinking about purchasing a new car in the near future? If so, you should consider getting pre-qualified. Right now, there are a lot of people who are interested in motor vehicles, and you need to put yourself in the best position possible to find the right car to meet your needs. That means you should get pre-qualified for a loan if you do not plan on buying a car with the cash you have on hand.

At Gerry Lane Buick GMC, it would be our pleasure to walk you through the pre-qualifying process. Take a look at a few of the top benefits of getting prequalified below, then visit our dealership to test drive one of our vehicles.
1. Your Offer Is Taken More Seriously
One of the biggest benefits of getting pre-qualified for a vehicle loan is that any offer you make on a vehicle will be taken more seriously. If you have a vehicle that you really want to buy, you need to get pre-qualified for that car. When a dealership is taking offers on a car, they want to know that the offer they accepted will be financed by the right lender. If you get pre-qualified ahead of time, the dealership will know that you can afford the car. As a result, they will be more likely to accept your offer.

2. You Might Qualify for a Lower Interest Rate
If you get pre-qualified for a car loan, you may qualify for an interest rate. Even though you probably have your heart set on a specific vehicle, you need to pay close attention to the interest rate on your car loan. This is going to be a major factor in determining the size of your monthly payment. If you get pre-qualified ahead of time, the lender might realize that you are in a favorable financial position. Therefore, they may reward you with a much lower interest rate. This could save you thousands of dollars over the life of the loan, so make sure you get pre-qualified for a car loan before you start shopping.

3. You Have a Defined Budget
How much money do you want to spend on a car? How big of a car can you afford? If you cannot answer these questions, you should get pre-qualified ahead of time. One of the top advantages of getting prequalified is that you will have a defined budget at your disposal. You will know exactly how much money you can spend, which will make it easier for you to find the right car. Typically, when you are approved for a car loan, you are given a loan limit. This is the maximum amount of money the lender will grant you. If you are having a hard time deciding on a budget, you should get pre-qualified.

4. You May Check Your Credit Report Ahead of Time
Finally, if you get pre-qualified, you can check your credit report ahead of time. Sometimes, you might be surprised at what your credit score looks like. By getting prequalified, you should get an opportunity to review your credit report. That way, you can correct any mistakes that are on your credit report, making it easier for you to qualify for the best terms possible. You might be surprised at how many credit reports have issues on them, so you need to protect them before you decide on the right loan package for your vehicle. Make sure you get pre-qualified ahead of time to get an inside look at your credit report.

Visit Gerry Lane Buick GMC to Find the Right Vehicle
Ultimately, these are just a few of the numerous benefits you will enjoy if you decide to get pre-qualified before you purchase a vehicle. At Gerry Lane Buick GMC, we have a wide variety of vehicles in stock, and it would be our pleasure to help you find the right one to meet your needs. We believe that the best way for you to find a new vehicle is to get behind the wheel to test drive a few of our options. We have one of the widest selections available, and we would be happy to help you find the right car for your driving style. Visit our dealership today!

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                      Gerry Lane Buick GMC

                      6615 FLORIDA BLVD BATON ROUGE LA 70806-4466 US
                      Sales (225) 341-4403 Service (225) 341-4393
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