What is Car Loan Pre-Approval and How Does it Work?
Planning to buy a new car for your business? Read this!
There is one small step that can make the process smoother, faster and more cost-effective: Get your finance sorted before you start shopping!
Car Loan Pre-Approval is a conditional offer from a lender, to finance your vehicle purchase, up to a set amount. It's like the lender saying, "We're happy to lend you up to this amount, pending final checks".
Think of it as your finance green light, so you can shop with confidence and speed!
Why Get Pre-Approved Before You Start Car Shopping?
Know Your Repayments
Pre-approval gives you a clear idea of your monthly repayments and how they fit into your business' cash flow. This means no surprises, and more confident decision-making.
Gain Negotiating Power
When sellers know your finance is already lined up, they take you seriously. This can lead to better deals, stronger negotiating power and more favorable terms.
Save Time & Reduce Stress
Skip the back and forth. Pre-approval streamlines the buying process, so you spend less time waiting and more time moving your business forward.
Faster Closing & Ownership
Once you've found the right car, finalising the purchase is quick. With finance already approved, you can get behind the wheel sooner.
What To Do Before Applying for Pre-Approval
To make the process smooth and successful, here's what to prepare:
Gather Your Documents
Have your paperwork ready: proof of income, proof of residence, ABN, ID and details of any other assets or liabilities. This helps speed things up.
Consider All Costs
Think beyond the car price. Include insurance, registration, maintenance and other ownership costs to get a realistic view.
Shortlist Potential Cars
Narrow down your options based on make, model, age, milage and features. Make sure your shortlist fits the budget and business needs.
How Car Loan Pre-Approval Works
At RLA Finance, we make it simple:
1. Apply Once
We collect your details, run the checks and find the best finance option for your business.
2. Get Approved
Most approvals are completed within 24-48 hours.
3. Shop With Confidence
When you have found the right car for your business, we finalise the paperwork and release the funds!
Whether you're buying new or used, dealer or private seller, we handle the details so you can focus on choosing the right vehicle for your business.
Ready To Buy a Car? Lock In Your Finance First!
Get pre-approved today and shop with confidence.
With expert knowledge and support, we are here to add real value to your business! At RLA, we are upfront and honest about our process from start to finish. We will always go the extra mile to ensure you're nothing less than satisfied with the service we provided. We can help your business get the vehicles it needs, on terms that work for you, while you get on with running your business.