3 things to do before getting a car loan [Video]

3 things to do before getting a car loan

Hi, welcome to the PRBC blog!

Thinking of getting a new set of wheels? You’re probably going to need a car loan, but what should you do before applying? 

First, check your credit report. Before you enter negotiations, you need to make sure there aren’t any mistakes that are lowering your credit score. Plus, it allows you to get an idea of what your interest rate will be.

Second, shop around with lenders. Tell them what your credit score is and ask them what sort of agreements they could structure based on your creditworthiness.

Finally, get pre-approved once you’ve found a lender. Doing so tells you how much money you’ll be able to spend on a new vehicle.

Thanks for watching! Check in next time for more financial management tips.