Five reasons why getting finance pre-approval is crucial

You know it plays in your favour when looking for a house, so why should buying a new car, camper, boat or commercial equipment be any different! Whatever asset it is you’re looking to purchase, it’s important to ensure you’re in the best position you can be before you even begin the research stage. And finance pre-approval is one factor you should strongly consider.

There are a lot of solid reasons why it’s beneficial to have loan pre-approval sorted before you start shopping for your new asset - here are our top 5.

When you’ve already got your finances arranged, you can let the dealer know early on in the negotiation process. This allows you to focus on the bottom-line price without having them try to incorporate their ‘good finance deals’ into the equation (which can easily convolute what you end up paying).

Because you’ve already crunched the numbers and established the budget you have to spend, you’ll ensure you don’t get caught up in those impulse decisions that end up costing you more than expected. This will help throughout the process, all the way from doing research online through to the negotiation stage.

When you have pre-approved finance, you’re effectively a cash buyer. Dealerships will see you as a serious potential buyer (you’re serious enough to get finance pre-approval, right?), which may very well work in your favour when entering into negotiations. This could be in the form of added extras (window tinting, etc.), a better driveaway price or both.

You know how much you can spend right off the bat and you’ve already been approved for the financing. That means you won’t have to worry about arranging anything later — you can focus on finding the right car/boat/camper/piece of commercial equipment at a price you can afford.

If you find more suitable financing somewhere else, you’re free to go with the better deal. Remember that pre-approval doesn’t mean you’re locked in with that financial institution. At Stratton Finance we’ll make sure you have the best finance deal to suit your needs — chat with us today.

Now you’ve got a few good reasons to secure finance pre-approval, why not get the ball rolling right now? See how Stratton Finance compares to the ‘Big Four’ banks and then fill out some basic information in our free online finance quote tool and we’ll be in touch soon to confirm a few details, then you’ll be pre-approved. It’s that easy!

If you’d like to know more about getting your finance pre-approved, we’re here to help. Feel free to give us a call on 1300 787 288 and one of the Stratton Finance team will be happy to answer any questions you may have.