There’s nothing more exciting than driving off the lot of Hall Nissan Virginia Beach in a new Nissan SUV or sedan. But before you do that, you’re likely going to have to get approved for an auto loan.
Here in our Nissan finance center, our friendly team of finance representatives are happy to share our tips on how to get approved for an auto loan.
Check Your Credit Score
Your credit score and your income are two of the largest factors in whether or not you get approved for an auto loan, as well as how much you qualify to borrow and at what interest rate. Before applying for the loan, check your credit score to ensure that it doesn’t have any errors, incorrect information, or fraudulent activity.
If you find that your credit is subprime or poor – a score of 600 or lower – and you don’t require a car right away, it might be in your best interest to spend some time to improve your credit score. However, remember that the finance reps at our Virginia Beach Nissan dealership will consider lending to you, regardless of your credit score.
Get Pre-Approved for an Auto Loan
When applying for an auto loan, you can get pre-approved. Getting pre-approved requires a hard credit pull, giving the lender information about your credit history. It also gives you more negotiating power and protects you from marked up rates.
Use Our Payment Calculator
To help out with budgeting for a new Nissan car, consider using our car payment calculator, which will tell you your estimated monthly payment after you input the down payment, the interest rate, and the vehicle price.
For more tips for auto loan approval, contact our lenders here at Hall Nissan Virginia Beach.