July 11

How an Auto Loan Preapproval Can Save You Thousands When You Buy a Car

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You walk tall into the car dealership — you know the car you want and you know how much you want to pay. You got this.

Right up until it’s time to talk financing.

Suddenly, you’re at the mercy of a dealership and its finance manager. They pressure you into accepting a package with a double-digit interest rate, which you’re only too ready to do after losing hours of your life to car shopping and haggling.

That’s kind of what the dealership is depending on, according to Jenn Jones, the auto writer for LendingTree.com and a former finance manager. Through finder’s fees and their add-ons, dealerships typically profit more from locking you into a higher rate auto loan than from selling you the car, she noted.

Preapproval Can Save You Thousands

That’s kind of what the dealership is depending on, according to Jenn Jones, the auto writer for LendingTree.com and a former finance manager. Through finder’s fees and their add-ons, dealerships typically profit more from locking you into a higher rate auto loan than from selling you the car, she noted.

Preapproval Can Save You Thousands

That’s kind of what the dealership is depending on, according to Jenn Jones, the auto writer for LendingTree.com and a former finance manager. Through finder’s fees and their add-ons, dealerships typically profit more from locking you into a higher rate auto loan than from selling you the car, she noted.

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How an Auto Loan Preapproval Can Save You Thousands When You Buy a Car

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