Pre-Approval


The below content is meant to be informational and not used as financial advice.

December 30, 2025

The Advantages of Loan Pre-Approval

 
Thinking of buying a new auto or recreational vehicle? Before heading to the dealership, consider contacting us first to find out if we can pre-approve your loan!  Why? Well, it can make the buying process faster, easier and more convenient. Here's how!

Clear Terms
Before you start shopping, you’ll know exactly how much you can afford to help narrow your choices and prevent surprises at the dealership. You will also know your interest rate, monthly payment and length of the loan. 

Negotiating Power
Dealers may be more willing to negotiate on price when they know financing is already lined up. 

Save Time
You’ll spend less time filling out paperwork and waiting around at the dealership for a financing decision.

Peace of Mind
You can shop at your own pace knowing your financing is secure.
 
 
With an approved blank check in hand, you can focus on shopping for the vehicle you want, when you want, at the price you know you can afford – and avoid the pressure of salespeople who only want to make the deal. Pre-approval protects you from purchasing a more expensive vehicle or obtaining unfavorable financing – both of which can have a big impact on your budget.

Get in touch with us today, apply online or in digital banking if you are a member! 
Written by

Lisa Marston

Lisa has been the Marketing Director at Oxford FCU since December 2019 – which is also when she (happily) became a credit union member. Send her(Opens in a new Window) your topic ideas, questions and feedback.


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