It’s easy to begin the Ford finance process right here at Helfman Ford. Not only do we carry a wide inventory of new and pre-owned Ford vehicles to fit your budget, but we also offer financing tools and resources to help you save big on your favorite cars.
Get the answers to your pressing Ford financing questions right here at our dealership.
Pre-Approval Process Explained
When you submit a pre-approval application, it will give the loan lender the chance to look over your financial background and credit score and to determine an appropriate loan for your next vehicle. If you wait too longer to begin the pre-approval process, your favorite vehicle may no longer be available, so it’s a good idea to submit an application at the beginning of the financing process.
Here are a few things you’ll want to keep in mind during pre-approval.
It’s Different from Pre-Qualification
While pre-approval and pre-qualification are similar, they’re not quite the same. The pre-qualification process will give you more of an estimate about the available loan, whereas pre-approval will be much more accurate.
It Shows You Mean Business
When you submit pre-approval information, you’ll be able to research and compare term and loan options to find the best one to fit your needs. Pre-approval shows lenders and dealerships that you’re serious about financing and ready to take the next step.
It Impacts Your Credit Score
Lenders will check your credit score during the pre-approval process, in what is known as a “hard pull”, which can affect your credit score. Pre-approvals only last 30-60 days, so only submit one if you’re ready to move forward.
Find the right Ford vehicles and the best financing terms and options for your budget right here at Helfman Ford. Learn more about the pre-approval process and take home a car you love from our dealership today.
Categories:
Social