Buying a car can be a notoriously slow process. You have probably heard stories about people arriving at one of the many car dealerships Indianapolis has to offer and spending the whole day in the offices trying to get a deal done. While we do our best at Bloomington Ford to make sure your buying process is as straightforward as possible, there are some steps you can take ahead of time to help things go smoothly. One of the best things you can do in advance of making your car purchase is to apply for pre-approval online for your financing.
Assuming you are going to be taking out a loan to finance the purchase of your vehicle, you will need to fill out a financing application to get approved for that loan. While you could wait to do it until you arrive on the lot, it can greatly help to speed the process if you do so ahead of time, at home. This way, you can take your time, make sure all of the information is correct, and not have to fill out long forms in a busy dealership office setting. You will be able to get the results of your application shortly after it is submitted, so you will know what size of loan you are approved for, what rates are available to you, and so on.
Helps in Planning as Well
While it is a great timesaver to fill out your financing application in advance, there are other benefits as well. Most notably, you can see what your financing options will look like and decide what size of a loan you are willing to take. For example, if you are able to qualify for a better interest rate than expected, you might be able to purchase a more expensive car while keeping the monthly payments in a range that you are happy with. Also, you can use this information to decide how much of the purchase you would like to finance, and how large of a down payment you are going to make.
Cut Out the Longest Part of the Process
Despite what you might think, negotiating a price is often not the longest part of the car buying process. In fact, when you come to Bloomington Ford and work with our friendly sales staff, you will find that it can be quite easy to reach a price that you are happy with in a short amount of time. In fact, it is the financing approval and loan process that usually takes the most amount of time. By having already filled out the application in advance online, you will be ahead of the game and should be able to complete your purchase much quicker.
By knowing how you are going to pay for your new vehicle before you ever arrive on the lot, you can focus all of your attention on picking out the perfect model for you. The pre-approval forms can be found right here on our website, and you can fill them out whenever you have a few minutes free. We look forward to meeting you when the day comes to purchase that new car!