Why get a pre-approval for a car loan?

Getting a new car loan pre-approval helps you understand how much you can borrow for a new car. Pre-approved car finance gives you the flexibility to go to any car dealer you want to purchase a car from and give you better-negotiating power. If you’re going to borrow, get pre-approved for an auto loan before you even start looking at cars.

What does a car loan pre-approval mean?

A car loan pre-approval is a conditional approval given to you by a car financier with a set of terms- e.g. the amount of money you can borrow, interest rate and loan term to finance your car. Getting this quote in advance makes it easier for you to estimate the total cost of your car and create a budget before you start the car-shopping process.

Why get pre-approved in the first place?

Having a pre-approval in hand is a great way to let car dealers know you’re a buyer who has done your research. Also, having a pre-approval before you visit a car dealership means you don’t have to scramble after you find a car to find last-minute financing options and make ends meet. A pre-approval essentially gives you a good indication about what cars you can afford to buy.

The Benefits

Understand all the costs involved

At Go Car Finance, we don’t just provide you with a quote but a complete ownership package with car insurance, maintenance and more, so you can calculate your regular car payments and set your budget accordingly. Use our car finance calculator to give you a better idea about what you can afford to spend, or browse our car ownership packages.

Focus only on what you want: a new car

If you haven’t taken the time to get a pre-approval before going to shop for a car, it’s easy to get overwhelmed and distracted with all the costs you have to consider on the spot. Alternatively, buying a car with a pre-approved loan means you’ll be spending less time browsing and can focus on cars that fall exactly within your price range and budget. This way you can feel confident that your loan payments won’t be stretching your budget too much.

Negotiating power

If you’re going to the dealership without a pre-approval and find a nice car, it can be tempting to take any finance option in front of you to avoid missing out on the car. When you get pre-approved, you don’t have to worry about loan amounts, interest rates or feel pressured to get a car financing option that doesn’t suit your budget.

More flexibility

After getting a car loan pre-approval, you can have the freedom to choose whether you’d like to purchase a car privately or via a dealer. If you do find a car you like, you can also move quickly with your offer in hand.

How to get pre-approved for a car loan

Applying for a car loan pre-approval with Go Car Finance not only saves you time but also provides you with a complete car finance ownership package that looks after your new car long term. This is what makes us one of the most trusted car finance companies in New Zealand.

Getting pre-approved for a car loan is easy with us.

  • Get an estimate of your loan terms, interest rates and payment via our car loan calculator.
  • Fill out our online car finance application. Takes 2 minutes to complete.
  • Gather and submit any necessary information e.g. payslips to show regular income, valid driver’s license etc.
  • Wait to hear from our highly-responsive team about the outcome of your loan.
  • Go shopping for your new car once you’ve received your car loan pre-approval!