Follow these steps to get approved for your next auto loan:

Get Pre-approved

Pre-approvals are always a good place to start once you decide to make an auto purchase. Don’t take it lightly. It’s one of the biggest financial decisions that you can make, whether it be your first auto or last, so before you buy contact your financial institution to get pre-approved. This helps to takes some stress out of the process. Once pre-approved you have 30 days to do your research and find an auto. You can apply for pre-approval in person or online at nccfcu.org

Contacting your Credit Union

You have built a relationship with your Credit Union, so it’s a great place to start with your financial needs. Start your application well in advance so you don’t have to feel pressured to buy right away. Consult your financial institution for some auto buying tips, so that you are well versed on the process once you reach the dealership.

Finding the right auto

Narrow down what type of auto you would like to buy and the amount you’re looking to spend. Don’t feel pressured to buy the first car you see. Go online to the auto dealership websites and browse their inventory, as well as checking out consumer website for reviews.

Research any warranty and gap offer, whether you purchase from dealer or your Credit Union. Most Credit Unions also offer some warranty and gap products.

Be in the know when it comes to rolling over negative equity from an auto trade. Negative equity builds up so quickly even after the date of purchase. Finding anything over 100% of the vehicle’s value is considered negative equity.

Then when you have found your dream car, you will already have your approval in place with your credit union! All you need at this point is the purchase order from the dealership and proof of insurance.

Congratulations! You are ready to drive off in your new car!