Skip to Main Content

What Are the Benefits of Prequalifying? 

Are you thinking about purchasing a new car? If so, you should consider getting prequalified for a car loan before you start the process of shopping. At Gerry Lane Cadillac, we have a wide selection of cars available, and we want you to get the best deal possible.

 One important step in this process is to prequalify for a car loan. Take a look at some of the top benefits of getting pre-qualified for a loan below and visit our dealership to test drive some of our vehicles. It would be our pleasure to help you find the best vehicle to meet your needs.
Finance documents on a desk
1. You Figure Out How Much You Can Afford
Without a doubt, the biggest benefit of getting prequalified for a car loan at that you can figure out how much you can afford. Even though you probably have a lot of cars on your list, you may not be able to afford all of them. Or, you might be pleasantly surprised at how much money you might be able to spend on a car. Furthermore, when you figure out how much of a car you can afford, you can narrow down your options. That way, you can find the right car for your needs a bit more quickly. Get pre-qualified for a car loan if you want your budget to be better defined.

2. You Get the Best Interest Rate Possible
If you wait until the last minute to get your car loan, you may never realize how good of an interest rate you can get. On the other hand, if you go through the pre-qualifying process, you can get the best interest rate possible. That is because you will get a chance to review your credit report, get your finances in order, and come back for an even better interest rate. Even a single point of interest can cost you thousands of dollars over the life of the loan, so go through the pre-qualifying process if you want to get the best interest rate you can. At Gerry Lane Cadillac, we are always looking for ways to help you save money.

3. You Have More Negotiating Power
There are a lot of people who are looking for a car right now. If you want to put yourself in the driver's seat during the negotiation process, you need to get pre-qualified for a car loan. When there are a lot of people looking for a car, why would someone accept your offer? They might accept your offer if you are pre-qualified for a car loan because they know that you already have financing lined up. You want to be the one driving the negotiation process. Therefore, get pre-qualified for a car loan if you want to get the best deal possible and maximize your chances of getting the car you want.

4. You Reduce Your Stress Levels
Finally, you should get pre-qualified because you do not want to put more stress on yourself than you must. Unfortunately, buying a car can be stressful, but if you know you already have your finances in order, the process gets a lot easier. That way, you can focus all of your attention on finding the right car for your needs and you don't have to worry as much about trying to find financing at the last minute. You don't deserve to be stressed out constantly, so lower your stress levels by getting pre-qualified before you start the shopping process. At Gerry Lane Cadillac, it would be our pleasure to help you with that.

Visit Gerry Lane Cadillac Today to Test-Drive Our Vehicles
If you want to get the best deal possible on your new car, you should consider getting prequalified for a car loan. At Gerry Lane Cadillac, we understand that a lot of people are not able to purchase a car with cash. That is why we have plenty of financing options available. It would be our pleasure to work with you to figure out how you can best qualify for a car loan. Then, do not forget to test-drive a few of our cars for yourself! This is the best way to figure out which car is right for your needs, so visit our dealership today!