Why Get Financing BEFORE You Buy a VehicleAutoBuying a new or used car is stressful. Picking a vehicle that meets your needs and is within budget can feel overwhelming. New cars are an expensive purchase that requires thought, time, and research. Add in that you have to negotiate with a salesperson over price and financing, and car-buying can start to feel like an intimidating prospect.Luckily, there are steps you can take in advance to make the process go smoothly. One of the best ways to make your dealership experience less stressful is to walk in with your financing already started.Here are four reasons you should apply for auto financing before heading to the car lot.Gives You a Stronger Negotiating PositionTypically, when you go to the dealership, you pick out a car and then discuss financing. Salespeople usually start by asking what you want to pay each month — a classic sales tactic. When you do that, it’s easy to get stuck with a long term and a high rate because you’re discussing the monthly payment instead of the total vehicle price. After all, “$300 a month” can sound better than “$52,000.”Instead, you can say you already have your financing and you only want to negotiate the price of the vehicle itself. You’ll be treated like a cash buyer who can walk away at any time, giving you more power in the transaction.Helps You Set and Stay Within Your BudgetIf you’re already pre-qualified for a loan, you know your budget and can stick to it. After online research, you likely know the type and estimated price of the vehicle you want before you go to the dealership. With that information, you can get pre-qualified for a loan and go to the lot with a budget already in place.If you go in with no financing, you could keep monthly payments within your budget, but you may get a longer term and higher rate, meaning you’ll be paying more than you budgeted for over time.Makes Your Dealership Experience EasierAs we mentioned above, with your pre-qualification in place, you only have to negotiate over the vehicle price. That will make your whole experience smoother because you don’t have to spend time at the dealership setting up financing and haggling over rates, terms, and payments. This will save you time, money, and hassle.Gives You More ConfidenceBetween the negotiations, the terminology you may not understand, and the pressure of multiple salespeople at once, a car dealership can be an intimidating place. Wouldn’t it be nice to go in knowing you’ll get a great deal on the car you want? That’s why you need to get pre-qualified first. Connexus can help. We offer excellent rates and helpful (no stress!) service. To start your auto loan pre-qualification, apply online or call us at 800.845.5025.