Three Ways to Prepare Before Applying for an Auto Loan

Among the many online resources available through BMW of Ann Arbor, our online finance application is among the most popular. It allows shoppers to kickstart the financing on their own time, from the comfort of their own homes. Before you jump in, however, we have a few preparations for you to consider.

Value Your Trade: The value of your trade-in vehicle can have an impact on the size of your down payment. As a result, it can also impact the size and duration of your auto loan. It's smart to get an idea of what your car is worth ahead of time, so you can know how much to figure into your loan application.

Explore the Latest Offers and Incentives: BMW of Ann Arbor offers special financing opportunities to our customers throughout the year. These incentives are available for both leases and loan terms. Before you apply, be sure to check and make sure you're getting the best terms available for your chosen model.

Apply to Pre-Qualify: You can actually get cleared for financing before you choose a specific car. This process is called pre-qualification. You'll get cleared for a specific amount, interest rate, and term. That way, you'll know how much car you can finance as you're shopping.

If you've taken these steps and found the car that you want to call your own, then we encourage you to go ahead and submit your online finance application. We can then send it off to our trusted lenders and have offers ready for to review in no time.

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