Getting pre-approved for a car loan can help determine what kind of Mazda car fits into your budget, give you more flexibility when purchasing, and give you the best rates. Because we’re often asked whether or not pre-approval is required for financing a car, our Mazda finance department is taking a moment to explain the benefits of pre-approval.
What is Pre-Approval?
Getting pre-approved for a car loan means a lender has reviewed your credit report, including your credit score, employment history, and other factors that will help determine the loan amount and the rate you’re most likely to receive. For people who decide not to get pre-approved, this process occurs after they select which car they want to purchase, which may slow the financing process.
Is Pre-Approval Required?
In short, getting pre-approved is not a requirement for financing a car. As part of our mission to make buying an automobile simple and accessible for everybody, we are happy to allow you to walk into our dealership and start the financing process without getting pre-approved. However, pre-approval does come with several benefits.
Benefits of Getting Pre-Approved
Whether you’re in the market for a Mazda CX-5, Mazda CX-50, or a different model, getting pre-approved helps with budgeting. Knowing precisely how much your monthly interest payment will be on a specific make and model will help determine whether or not you can afford that new car.
If you’re ready to begin the auto financing process, you can fill out the finance application directly on our website. We’ll promptly get back to you with an offer, and our finance professionals are happy to explain anything else about the pre-approval or financing process. We look forward to helping you get behind the wheel of the Mazda car of your dreams.
