How to get approved for a car loan {The secrets the dealership don’t tell you when you apply}

BUILD YOUR BUSINESS CREDIT IN 90days or less
road2financial...
REPAIR YOUR CREDIT WITH OUR FREE DIY CREDIT REPAIR
advisorycredit...
______________________________________________
✨HELPFUL RESOURCES ✨
Start Your Business FREE here:
shareasale.com...
Check your Business Credit. reports:
nav.nkwcmr.net...
Check your personal credit reports:
Www.smartcredit...
Build personal credit and save money with Self:
self.inc/refer...
__________________________________________
Business Inquiries ONLY: Email [e-mail]
__________________________________________
#businesscoach #businessforwomen #businesstips
I am not a financial advisor or expert. The purpose of these videos is to give you the knowledge I’m familiar with and to only share my opinion. Some links above may be affiliate links and I may receive small commissions from them. Always consult your financial attorney and cpa for financial advice

[@sonewhite6778]

I did this exact thing last year & walked off that lot with a brand new 2021 Jeep Cherokee, 7 miles,,, from my test driving!!! This is thee way to go 💯‼️

[@Road2FinancialPeace]

YESSS 🙌🏽🙌🏽🙌🏽 that’s nice there. I love to hear it. 💪🏽

[@Road2FinancialPeace]

@@roses4me451 AWESOME 😎 there’s nothing like keeping more of your money in your pockets. Definitely take advantage of that. It’s no problem 💖

[@dayday5679]

7 miles for a drive test damn 🤣 wth was you going

[@sonewhite6778]

@@dayday5679 😂😂😂 just making sure

[@aishakone4067]

Thank you.. this was really great. I will do exactly what you said.

[@williamskat1]

This is very informative. My parents taught me to keep that credit up and buy a brand new vehicle, one that you are not going to have to fix in a year. Yes and get the loan from your own bank!

[@Road2FinancialPeace]

Yess queen they gave you the game for sure. Credit is definitely more powerful than cash now days.

[@7SKYBALLER]

Depends on who has the lower interest rate & payment rate.

[@Kimillions]

No matter the source of financing, you still have control at the dealership. Never forget that. And this is because you should keep negotiations (including price, features, warranties, etc.) separate from financing/payment. When you set foot on a lot, NEVER discuss financing. Your goal is to purchase the car you want for the least amount possible. That's it! Super simple. Get as below MSRP/Invoice as you can get. Also, know what to negotiate on. Don't waste time fussing over destination charges etc. Focus on base price and features. Don't be afraid to walk away or even take quotes from place to place. Pit them against each other. Leave your contact info with the sales associates and I PROMISE they'll be calling YOU. lol Then AFTER you're satisfied with pricing THEN you use the tips in this video (which are very good btw 😊).

[@Kimillions]

Just remember not to discuss "how much are you looking to spend today, what's your credit like, will you be financing with us, do you have a trade-in, etc." UNTIL AFTER you've decided on a vehicle and are satisfied with the price. Because if not, they will most definitely sell it for the max of your budget, if that makes sense. No matter what, don't be intimidated. Remember they're the ones with a lot full of cars that they desperately need to get rid of by a certain time. THEY NEED YOU. 😉

[@Road2FinancialPeace]

👏👏👏 gems dropped

[@Kimillions]

@@Road2FinancialPeace Wow, thank you! 😄 Same to you ma'am!! 🤝🏽

[@YvetteT]

Can I take you with me when I purchase my new ride

[@beretta9566]

Good luck trying that with this chip shortage going on🤣

[@topherd1011]

The hard inquiries, done in a short period of time (period of a week or so usually) will likely consolidate into one single inquiry as you are only looking for one line of credit. However it may take a long time for that to occur so it’s good to keep in mind each hard inquiry will cost you 2-7 points.. if you’re going to a dealership ask specifically for a soft pull FIRST.. most have ways to make that happen.

[@Ipopsh_t901]

This is true

[@justinkroeker1464]

This is 100% correct, I’ve got my score from 420 to 815, work for a dealership for 20 years and have had at least a dozen auto loans. I know this stuff

[@cpri555]

So it is 45 day time frame where all auto loan pulls get consolidated into 1 and it happens on your next credit cycle following the pulls some 60 days roughly.

[@TheSpelledMilk]

Thank you for that info 👍

[@buttercup5920]

I feel like every body should have a informative, helpful and genuine friend like her when it comes to buying a car , house, or starting a business 🤷🏽‍♀️🔥

[@Road2FinancialPeace]

Awww glad I could be an assistance. We’re KZbin friends now lol 💗

[@buttercup5920]

@@Road2FinancialPeace right boo! 😂

[@jaebiggz]

Go to your credit union or bank so they run ur credit one time instead of dealers multiple times

[@WWETHROWBACKWILSON]

That’s what I started doing! It helps me a lot! I’ve noticed also, dealerships don’t like when u bring ur own paperwork! But idc I do it anyway!

[@Sigh927]

@@WWETHROWBACKWILSON can you explain? Is it a piece of paper with your score in it so you can get a auto or personal loan?

[@twrendy9142]

@@Sigh927 Yes, they’re your pre-approval paper(s) from the bank that show your auto FICO score. You can use it as leverage against what the dealer may offer in interest as well. It’s also good to get an idea how the car manufacturer scores different credit tiers.

[@woke1497]

In about 4 more years ... Dealerships are going to be obsolete We don't really need them anymore

[@HealthyD12]

@@woke1497 what will it be ?

[@donaldprevost8826]

I did do this a year ago but I just came across this video in my feeds. I knew my credit score and called up Park Place Mercedes Benz and got my wife exactly what she wanted and got her her dream car by going through my own bank. Good video by the way.

[@Road2FinancialPeace]

Awesome 😎 Which Mercedes did she get ? I’ve been looking at them lately and haven’t made my mind up if I want to get one just yet lol. Thank you

[@donaldprevost8826]

@@Road2FinancialPeace I got her a GLC 300 with the panoramic sunroof. She loves it.

[@sunshinesun6727]

I'm headed to Park place

[@StarLove451]

I’m headed to park place also! Pre approval makes sense how do you avoid deposits ?

[@nicholaskartel3375]

Funny im watching this right before i go to a dealership tomorrow. I was gonna go there blind but now im passing through my bank first. See how GOD works. Thanks. 👊🏿👊🏿

[@megaton8184]

How it go??

[@SlushyyHyuga]

@@megaton8184 Right.. I wanna know too

[@sassouusasoo3607]

Denied!

[@beauisrael9724]

i guess Im asking the wrong place but does any of you know a trick to get back into an Instagram account..? I somehow forgot the login password. I would appreciate any help you can offer me!

[@sassouusasoo3607]

@@beauisrael9724 ???? Setting ,password, forgot password..lol .wtf ??

[@LordVader.66]

Get a loan thru a credit union. Then you know what your interest rate is upfront. A dealer will never tell you what your interest rate from the bank is because they usually tack on 1-2% for themselves as they get a bonus from the bank for using them.

[@Siikesz]

False, we don’t know what interest rate you’ll get you know BALL PARK range but we don’t get you approved on a vehicle till we get you in finance. We don’t sell money we sell cars. You’ll get whatever interest rate your score can qualify you for and if you go to a well established dealership/ corporation like Larry h Miller ( sorry east coast ) than you know they got your best interest in mind. It’s not the 70s anymore you aren’t paying the dealership directly for monthly payments. We don’t make money on new cars we make money on used cars, dealerships don’t get a cut out of your full financing amount they get cuts from front end profit example used car traded in for 15 we sell for 19 we make 4K profit. Your interest is what the bank makes not dealerships

[@giovanniosbourne1819]

This isn’t true. We actually don’t know what interest rate you’ll get until we run your credit. We don’t make money tacking on interest.

[@ctgaming2938]

That is absolutely true. I’ve sold cars for 6 years. You have a buy rate which is what the bank gives you. Then the dealer will add 1-2 points on the rate. However a lot of times you can get better rates through a. Dealer because they have more power with the bank than an individual ever will.

[@LordVader.66]

@@ctgaming2938 thank you. I just bought a BMW through a dealer and my guy was awesome. He showed me exactly what my financing was from the bank and showed me there was .5% added as their cut. I was fine with it. He was upfront and took care of a few minor issues with the car I wanted taken care of and got my rate at 4%. He came off of their price 2k and made sure I knew what my "out the door" price was. Best salesman I have ever had

[@LordVader.66]

@@ctgaming2938 also I should mention, I had a caliper seize up a week later. I bought the part and they took care of the labor. It is a 2011 bmw 328xi with barely 100k on it so I have to expect maintenance crap like that. Part was 70$ so it didn't hurt. I could've done the labor but he said they would take care of it and put me in a loaner for the day. I gave them a 5star review on Google

[@charleswilliams8449]

You are a beautiful spirit. Your knowledge is spot on. Dealership played me before. Then I started talking to both my credit unions. Did not repeat it again.

[@Road2FinancialPeace]

Thank you and yes your bank will definitely help more.

[@PatrickDavidson]

I used to work as a sales assistant at a dealership this is A1 advice

[@Road2FinancialPeace]

thank you

[@danielharden5275]

Don’t believe in dealership pre-approvals ether they still pull a hard inquiry 🤦🏾‍♂️ car salesmen aren’t Financial advisors just CAR SALESMEN !!!

[@gwillis01]

I totally agree that car salesmen are not financial education experts. They are merely salesmen.

[@Road2FinancialPeace]

so true

[@bmagnetic]

Preach!!

[@Siikesz]

Cars salesmen get word of advise from managers who were financial directors before becoming a manager. They been doing it for 10+ years they know what you’ll qualify for by looking at your debt to income ratio and score. Time to wake up little Timmy your low 600 ain’t enough for a 30-40k car unless you got 5k or more down payment. It’s a risk factor to banks dealerships don’t give a shit they want to sell you a car but it’s the banks you say what you can get and these car salesmen go off the word of advice of what to show you the customer based around your credit and debt to income

[@chuchaid663]

@@gwillis01 p

[@gwillis01]

hooray for credit unions!! The auto loan rate from credit unions is usually very competitive or the best loan rate available.

[@nickiisar]

Agreed!!😊

[@huntingtonbeachanthony4957]

Sometimes...Navy Fed pre-approved me with a 4.7%: Bank of America pre-approved me with a 2.3%...it confused me.🤔

[@lloydhudson6463]

Absolutely, I used to get lots of customers that came in with approvals lined up with their credit unions. Most of those folks never went with our lenders because the credit union rates were so good. Its also a good way to use leverage with the dealership.

[@HealthyD12]

@@huntingtonbeachanthony4957 it's based on what credit report they pulled, the amount of the vehicle, and what the bank can offer you on their interest rates .

[@googleuser663]

I’m live Texas and love your country accent. Great to see another person of my skin color giving great advice ♥️

[@diaryofkiarah]

Thank you so much ! I’m about to make my second big girl purchase and I want to be more prepared this time! With the help of your video I feel like I am!

[@Road2FinancialPeace]

You’re so welcome. Glad I could assist 💖

[@jennydorado1365]

Girl You did an AMAZING job, your video was so helpful and very easy to understand! Wish I could of seen this video months ago !!

[@Road2FinancialPeace]

You’re welcome love. This method can be applied if you ever refinance as well. 💖

[@abdourahmanendiaye3768]

Me too wish I could see this before I had my Accord when my score was at 720

[@mtcalvaryorangeburg2579]

Excellent. I used it for my class. I would add that getting a used car is very good as well. It has far less depreciation.

[@evanwindom3265]

Good point. It actually has already had lots of depreciation, but the first owner paid it for you, so you get a lot more value for your money in a used car. (I tend to keep vehicles a long time, so it spreads the depreciation out over the life of the car, and it works out, but I get that lots of people don't go that route.)

[@JaedreVision]

Facts... buying car 1yr old vs brand new shit load of savings

[@evanwindom3265]

@@JaedreVision Very true. Most cars depreciate rapidly in the first three years, losing about 60% of their value by year 4. So, trading frequently or leasing has a high depreciation cost. I kept my last pickup over 20 years, so depreciation is pretty well moot for it.

[@F80_Eli]

@@GemCity_Exotics lmao my guy said Kia when they’re selling 10k over sticker used

[@charhayah]

You actually got to the point. Thank you!

[@Road2FinancialPeace]

You’re welcome queen

[@idrissalaam1092]

That's exactly what I did I came in that office with a check from the Credit Union.The guy at the office was shocked! I'm thinking about doing it again, I just haven't decided what vehicle I want.My car payments was smooth coming out of my check.

[@Road2FinancialPeace]

Yess they don’t like when you can take control lol. Congratulations

[@warwithcasualties8728]

How does this process work

[@Yeiyyei]

I was stressed while trying to get paystubs and bank statements for my car loan but I’m good now I got it online 💯

[@nadiasmith7829]

THANK YOU! I’m 20 and I’m starting to build my credit soon and this will help me down the road. Thank you !

[@Road2FinancialPeace]

You’re welcome love. Tomorrow I’ll be dropping a video to teach beginners how to build credit. Definitely check it out as well. ❤️

[@TheSpelledMilk]

A secured credit card from Capital One changed my life. Look into it. It paid off for me.

[@mauriluciano1780]

Thank you very much! This was very informational and it made me have a better understanding/confidence of how I’m able to be I control with just a couple of steps to get approved for, as well as taking this knowledge with me, as well as I wrote down many of the things that you said, in orders to obtain the information

[@Road2FinancialPeace]

You’re welcome. Let me know how it goes once you apply.

[@stepheonrobinson9302]

Great Advice. She is spot on. Only thing I'll add is never tell the dealership how much your approved for. It's none of their business. Also you can had on upgrades & accessories to your vehicle and they can roll it all into your loan. Example. If you're pre-approved up to $30K. You can get car for $24K , you can add Tint, Upgrade wheels, remote start, etc. For about $3K. Now your at $27K with Taxes Title fees. You'll still be under $30K

[@ceceandthemouse]

If they ask how much we are approved for, what do we say!? I need a little script! Lol

[@stepheonrobinson9302]

@@ceceandthemouse Well the best thing is to know what vehicle you already want before going to the dealership & look around what other dealers are selling the vehicle for. But all you need to tell them is your budget range. Example if your approve for 30K . Just tell them you're budget range 23k-25k. Because they will try to max out the whole amount your approve for. Or let's say they have a car on the lot selling for 25K, if they know you have 30k to spend, they will try to sell you that car for 29K.

[@Road2FinancialPeace]

Most definitely agree to this. When I went I didn’t let them know I had an pre approval until I had negotiated the pricing of the vehicle I wanted. Don’t let them talk you into what you get. Instead talk them down and off their pricing.

[@Road2FinancialPeace]

Just don’t let them know you have the approval until you’ve negotiated the pricing of whatever vehicle you’re looking to purchase. Having a pre approval will give you an upper hand. Just let them know what vehicle you’re looking to purchase and negotiate it as if you have the cash for it. After you’ve come to an agreement of the pricing, then let the finance manager know you have the pre approval.

[@ceceandthemouse]

Thank you guys so much!! Been doing my homework all weekend. Will be going in this week. I’m feeling more confident as I do the research!

[@ericdandridge622]

Thank you sooo much. Eventhough I have been studying credit years before KZbin.. But every little bit added to my knowledge and experience helps.

[@Road2FinancialPeace]

Glad I could be a help

[@unfazedgeorge]

Thank you for this video. It’s very helpful for me to know to be careful about pulling credit from too many places. I am 21 and I’ve been building my credit for the past 3 years. I have been using my credit cards only to buy a candy bar every month and paying it off in full to artificially lower my credit to always under 1%. Today I signed my loan agreement with Tesla at a 2.5% interest rate for my model 3 that comes in January and I’m so excited to get my first car!

[@mrmademannnn]

Man said buying a candy bar every month I’m crying bro lol I’m happy for you tho brodie

[@unfazedgeorge]

@@mrmademannnn 😂😂😂 TyTy! The strat has worked well so far.

[@mrmademannnn]

@@unfazedgeorge what’s your credit number ?

[@unfazedgeorge]

@@mrmademannnn score? It’s 789 on Experian and 797 on Fico as of Nov.

[@mrmademannnn]

@@unfazedgeorge i need mine to jump 50 points. What do you recommend?

[@ANI-LO]

Thanks so much beloved 🙏🏾

[@guidetruckersgmailcom5017]

Contact 👆📩if you need more information

[@Road2FinancialPeace]

No problem 💗

[@bamagrl26]

Thats why I have never purchased a new vehicle. I got a second job and by the third month purchased a 2011 LEXUS IS250 with 78K miles. I researched the dealer and due to sales being low because of COVID-19 I got a Great deal. I demanded the vehicle be inspected by a Lexus dealership and the car checked out with no major or minor issues. I even negotiated a 10yr 250K warranty for $750 they wanted $1750. Do your research and be prepared to walk away if necessary. Now I enjoy NO monthly payments or BUYERS remorse.

[@Road2FinancialPeace]

NICE. Yes you have to go in like you know what you're talking about so they want get over on you. That's awesome work queen.

[@evanwindom3265]

Well done! That's LOW miles for a 2011. Nice find, and good on ya for getting the inspection from a brand expert. You rocked it.

[@dudette2c]

How do you recommend someone does about researching dealerships? What things should we look out for?

[@yunggpacino]

Carmax people it's a great way to go especially for y'all who ballin on a budget like my ex who bought a damn G Wagon the maintenance like oil changes are $250 n up! Carmax has full coverage up to 6yrs on cars like that good luck

[@aliciamarie6754]

That’s my dream car 🥰I never knew Carmax carry them every time I look they never have them… imma start looking again

[@sheenyxx]

This one good video, will surely help a lot of people!

[@MarvelousMarleyMar]

You laying down all the 🍵 on these dealerships. Thank you for the insight

[@Road2FinancialPeace]

You’re welcome

[@leggingsarepants3175]

THANK YOU so much for this. I was lost at what I should do this weekend (my car was totaled and my settlement just came through) and now I feel so much better!

[@iceemarie3024]

How long did it take for your settlement someone just hit me 2 days ago and totaled my car we are still waiting for the police report just didn’t know how long it takes?

[@laurenrivera733]

I recently came across your videos and they are SOOOOO helpful. You explain everything in a way that is very easy to understand. Thank you!! Please do more videos on bad credit,rebuilding credit, auto loans with bad credit 🙏🏽

[@blessingsalifu7644]

Cyber Credible can help tbh he help me fix my credit with bank statement to show my income tbh I got approved at the dealership

[@blessingsalifu7644]

On Twitter I got his service

[@PrydeWater901]

...and don’t pay more than $300 for GAP which may also be available from your bank/credit union.

[@nicoletiana]

i just got myself a 2020 nissan versa sv. i'm a toyota person but i think I dropped the gun too fast and this is what i ended up leaving the lot with, lol i'm grateful, its the perfect car for me. all glory to god! I like this kind of videos. i have videos of my car on my channel and videos about the process of getting my car etc!

[@Downshiftmafiatv]

The way she talks 😍😍😍😍

[@Amh390]

I can tell when somebody from Mississippi 😂

[@Road2FinancialPeace]

😂 most definitely

[@PatrickDavidson]

I love the accent

[@PrydeWater901]

She sholl iz!

[@israelsreformbruhtajamezli472]

JackTown fa sho💯🕺🏽

[@YattaBeats]

Manee Istg first thing I said where is from 😂😂

[@lovemewhite3939]

Thank u so much for the advice I felt victim of going to a car lot and that is what happened to me my credit got it hard. Yes so true the same thing happened to me they chose a car for me something I didn't won't I ended up putting $3000 down I was disappointed I felt screwed over. They gave me 3 years I paid it off in 2 years

[@Road2FinancialPeace]

Yes I’ve experienced this as well. When we know better we do better. Now it’s time to educate the next. 💖

[@collierjan09]

Never put money down. It only goes in their pocket.

[@shortyshorty1216]

Yes.. they run you're credit through several different banks.. But it doesn't matter how many times they run you're credit as long as they are all done within a 30 day period. N it will just count as #1 Hard Inquiry.

[@dollface1992]

I'm not sure how accurate that is, from my experience they all showed up as separate inquiries on my credit. It was very annoying considering I came in with a loan from my credit union and didn't authorize the hard inquiries at the dealership 😫

[@Road2FinancialPeace]

exactly you are absolutely correct. I don't know where they went but I work with others to assist with their credit and I've seen them do this over and over again. It's never ran under one hard inquiry because its pulled from multiple lenders not the same one.

[@gwillis01]

My sister had something similar happen to her. The car salesman said to her "Our preferred bank for subprime auto loans will only approve loans for less than $xxx. The only vehicle on the lot that is under $xxx is this 2015 Ford compact sedan. Would you like to buy this compact sedan?" My sister wanted a small sedan anyway but she was surprised at what the salesman said. Since she was impatient to drive a different car than her present one, she said "OK Whatever. Where do I sign to seal the deal?"

[@Road2FinancialPeace]

wow yeah you have to be careful and go in with the attitude of knowing what you want or they will pressure you to get anything.

[@evanwindom3265]

You can also make the decision before you go in that you're not going to drive home that day with a car. Find the one you want, negotiate on the price, and take a day to think it over. "Sleep on it", as they say. That will help prevent making an impulse decision. A possible side benefit is that once you leave, the dealer may call you with a better price because they're convinced you'll buy from someone else within 72 hours. There is power in walking away.

[@sheilawilson9774]

Thank you. You explained the do’s and don’ts extremely well. I have sent you video to both of my sons. 😊

[@Road2FinancialPeace]

No problem. I’m glad I could assist. 💖

[@tamialefay9445]

I just want to say ty because I really have no one to help with stuff like this so I learn from yt and you just helped me so much❤️❤️❤️

[@MrEOM41]

In the market for a car glad I found this video never knew this 💪🏽

[@Road2FinancialPeace]

Good luck. Let me know how it goes.

[@taybandssss]

I wish I would’ve found this video sooner them dealerships drove my credit score to the ground now I know to apply for a auto loan through my credit union thank you so much 😩 🙌🏾🙌🏾

[@rrhopewell]

This is absolutely changed my thinking. I have been with a credit union forever and never knew it was this easy. Thank you thank you thank you.

[@Road2FinancialPeace]

You're so welcome.

[@dudette2c]

How has it been with a credit union? I'm considering getting one.

[@prometheus200]

Thank you mama, you saved me thousands and a headache. Just got me my for maverick 2022. Love u.

[@janelleaugustin421]

Thank you Teara sooo much for the advice. Two nights ago i did an online credit application to get approved for a car. I saw your video the next morning, applied for an auto loan with navy federal asked for 10k got approved for 11k and then realized that the dealership did not run my credit yet so i sure did call and asked them to cancel the credit application. LOL and now i’m shopping for cars. THANK YOU THANK YOU THANK YOU!

[@Road2FinancialPeace]

🙌🏽🙌🏽 YESSS CONGRATULATIONS QUEEN. This makes me happy to hear. You’re so welcome 💗

[@janelleaugustin421]

@@Road2FinancialPeace Thaaankk you love! Keep on helping others. You will go very far. ❤️ Next is me tryin to start a business lol and quitting my job 😂

[@Road2FinancialPeace]

@@janelleaugustin421 YESS MA’AM you got this and I can’t wait to see you make it happen. 💪🏽💗

[@hannahprior6540]

Credit scores if you don’t mind me asking?

[@janelleaugustin421]

@@hannahprior6540 It’s in the 700s. I don’t know the exact fico score. Experian and all of these credit websites aren’t 100% accurate when it comes to scores.

[@javierbrown9746]

THIS IS VERY HELPFUL IM GOING THROUGH TRYING TO GET A CAR NOW AND THIS INFO HELPS A LOT I HAD AN PRE APPROVAL LETTER AND NOW I SEE THEY PLAYED ME BUT KNOW I KNOW AND IM GOING BACK AND IM GONNA BE IN CONTROL THANK YOU FOR THIS VIDEO.GOD BLESS YOU💖

[@Road2FinancialPeace]

You’re welcome king. When we know better we do better. We definitely have to take control these days. They’ll take all our coins if we let them. Keep me posted on how it goes.

[@jessicaclemons8363]

I just found this video i want jeep wrangler rubicon been building my credit score for years its finally where i need it to be

[@davidhwang4839]

If you get Pre approved from your bank, you know the amount that’s max for you to buy. Aren’t them already telling you what kind of car you can get? It’s them same thing. Your own bank doesn’t always give you the interest rate but they do for the most part. Most people are in la la land when shopping for a car. So unrealistic. I want to buy a Camry, I love the Leather, Navigation and Sun Roof as well and they are a must to have. Here’s the kicker, I only have $1000 to put down, if less even better. My budget is $250 per month. What in the world are you thinking????? Do the math your self, 250x60 months or even 250x72 months, that’s even close to $30000 car that you so want with the must have options. So the dealer will put you in your place giving the option that you have according to your budget. Then you get approved for the car that you can afford. Yes they will send to various banks and you will have hard inquiries but that’s your fault for not having a good credit so they have to find a bank that will give the best interest rate for you. GAP insurance??? Good to have but not a must so you can decline it. So you leave with the car that you can afford or you’ll leave with a car that’s over your budget but that’s because you really really wanted that particular car. So got pre approved for $20000 instead of $30000??? Guess what, say good buy to a loaded Camry and you’ll end up in a Corolla unless you put money out of your pocket. Remember, the pre approved amount is even with tax, MV and fees all included. So technically you can get a Corolla no more than $17000 more or less. Let’s resume all this in this particular scenario of a new car Camry vs Corolla considering your credit, income, budget and options, you get pre approved from your own bank, they are already telling you what you can get, even though you we’re dreaming about a Camry. Don’t get pre approved and go to a dealer and find out that you can get approved for a Camry but a higher payment or you can get a Corolla within your budget as well. If you get a pre approval, you’re buying the car in cash at the dealer and you may loose some incentives. If not and you finance with the dealer, you can get more incentives depending on the program on that particular time that you’re purchasing the car. Incentives varies time to time so take the advantage when it’s available and if you qualify. You will save a lot time if you can get pre approval first because you’re bank will tell what you can get (money wise). Approved for $20000? So start looking for only less than $18000 cars no matter what brand. If you pick a Toyota like in this scenario, Corolla or another cheaper vehicle. Bye bye Camry. If you’re pre approved for $30000, then any car below $27000 more or less. Get the picture right? If you have a great credit with great history and assuming you had financed or leased a car before under your name, including you being a Co-signer to someone else, you can get the special APR like 0%, 0.9%, 1.9%, 2.9% or 3.9% whatever is available for the vehicle you’re trying to purchase with no problem and submitted to ONE bank only and not multiple banks. You don’t get more power or control by getting pre approval. You save a lot time and that’s it because you already know you can not get something more expensive. Kinda “limited”. Tips for GAP insurance, the higher the loan amount you have, the better GAP insurance will be good in case of a total loss. If the amount is very low, don’t even bother thinking about it. And by the way, GAP is not expensive.

[@HealthyD12]

Thank you David!

[@davidhwang4839]

@Lea J, not sure why I can’t see your response on the comments but I read in my email so hopefully you’ll come back to read this or get a notification. Sales people are trained and “forced” to call customers to get into the doors and to make a final sale. Long story short, don’t hate on them, it’s just part of the life of the life of a car sales people and they hate to do it too. Trust me. Right now is hard to get what you want, you really get what’s available out there considering this pandemic that caused the shortage of the chips. Tip? If you leased a car, that means you’ll need a car regardless since you need to return it so no choice but getting what’s out there. Now if you have the luxury of not having to lease another one and just stay with out a car for a long time, then wait until this industry stabilizes a little. I’ve always leased my cars in NJ and now here in MD, you have to pay the tax on the full amount of the vehicle that I’ll be leasing instead of paying taxes only on the 3 yrs that I’ll using the car

[@davidhwang4839]

So not worth it to Lease here in MD. I ended up buying since I have to pay the full tax amount on it. Now I can wait until this craziness in over. Other option for you would be to buy your own Leased car. Financially speaking, not the best idea since you would be paying all the fees and tax again but worth it if you’re over mileage and has lot’s of damage on it. Worth it because you wouldn’t be paying to the bank all that since your keep in it. Keep in mind, financing the car with the dealer is different than financing with your bank. Incentives are different, most of the times is better to do with your own bank when there’s not much incentives from the Brand itself. If there’s lot’s of rebates or special APR on it, most likely better with the dealer. Again most likely. To be 100% sure, gotta do your homework when buying a car. Hopefully this helps.

[@amirigordon7230]

S lol

[@joosemayne]

Hey my old coworker! Great tips! I love your page!

[@Road2FinancialPeace]

Hey and thank you 😊

[@ethanthomas526]

Thank you, very helpful! Glory to God!

[@yahbanks5966]

I'm with a credit union now just saving my money before I get one

[@Road2FinancialPeace]

perfect and good luck on your new car

[@yahbanks5966]

@@Road2FinancialPeace thank you

[@payme2473]

I went through this also, wit a car I didn’t really want now I’m paying for it. Thanks for this video

[@Road2FinancialPeace]

Yess a lot of us had to learn the hard way unfortunately. No problem

[@fredcrewneck]

I just check Experian and my FICO score is 760! thanks for the tip

[@sincerelyidgaf]

Lucky! Congrats! Im going to ask about mine tomorrow. Im thinking 630-40 but she told me it wasnt bad. Idk why I never asked.

[@caribbeanmizz]

I sell cars and she told no lies!!!! I’ve also worked in both a bank and CU and CU’s to me are better for loans, but they both work with you with or without a previous relationship.

[@Peaceful_Peter]

Black girl magic✨✨✨✨ Love to see it!! I’ve learned something new from watching this video thank you for sharing💖💖💖

[@Road2FinancialPeace]

Thank you and I’m happy I could assist. ❤️

[@mrsoup4112]

It depends whom you speak with at the bank. I went to my local NFCU and asked all kinds of questions. She acted like she didnt know jack shit and if I had two heads.

[@Road2FinancialPeace]

Do it online. It’s so much easier that way.

[@laurawashere]

Worst thing people can do is demand a discount on a used car, without any type of pre-approved loan. They may have gotten a discount on a new car before so they think it’s the same for used cars. But it really depends on the dealership. Some will say that their used cars are already priced based on the car fax.

[@ismael9246]

How is that the worst thing to do?

[@roseroxx2773]

I just got a Toyota corolla omg I'm really happy😊 thanks for the paystub

[@ladeuce9692]

I learn something new everyday Thank you for the free game💯

[@Road2FinancialPeace]

No problem

[@Esmeb89547]

a bank have higher interest rates and higher requirements, go to a credit union or a place like capital one. Get a bill of sale and take it there

[@dorothymerriweather5694]

I just came across your video and you gave me some information I needed. Thanks

[@hikari6505]

So do we still have to put a down payment on it or not? would it be better to?

[@gwillis01]

Thank you for such an informative and inspirational video.

[@Road2FinancialPeace]

No problem. Glad I could asssit.

[@adeishajenkins2686]

Credit Karma is the worst. It is very inaccurate. I learned about the dealerships running your ssn through multiple lenders when I ended up with 13 inquiries on my credit report. Beyond pissed is an understatement. I went to one dealership.This was years ago. I said never again will I get got like that. I also didn't get the car I wanted. They showed me one car and I signed papers to go outside to a completely different car. They said I didn't qualify. Horrible experience. Great information.

[@ELP1125]

Well I think it’s wise to get a car you can afford, not just a loan you can afford. If a car is worth more than what you make in a year, you can’t afford it….period.

[@itsdancan]

Great video and good tips. 💯

[@Road2FinancialPeace]

Thank you

[@Thatboyisaac214]

I let the dealership run my credit Saturday 😫 we live and we learn though thanks for the information 🤙🏼👍🏼

[@veasnayong3456]

Girl u make this seem so easy I have a 680 credit score and can't get approve anywhere

[@davidcarr4481]

Yes it did help me I appreciate the education keep doing what you doing God bless DC

[@Road2FinancialPeace]

Thank you so much

[@imchrisjaym3923]

THANK YOU FOR THE HELPFUL INFO GBY

[@ericbaker774]

You answered all my questions, I went to a dealership n Memphis and they ran my credit several times last year n I was wondering how to avoid them doing this again this year Thanks so very much👍🏾

[@Road2FinancialPeace]

You’re welcome. Let me know how it goes.

[@Susan-yq8pf]

Very helpful. I appreciate you posting this

[@Road2FinancialPeace]

You’re welcome 💕

[@nachtvupk]

That southern accent is amazing

[@royalty12]

Women are so amazing, smart and beautiful... I appreciate and love you💐💙❣️

[@missymoore3472]

Thank Thank you So Much Sweetie you save my LIFE!!!!!!!🙌🏿🙌🏿🙌🏿🙌🏿🙌🏿🙌🏿🙌🏿🙌🏿🙏🏿🙏🏿🙏🏿

[@Road2FinancialPeace]

You’re SOO welcome queen. Glad I could assist. 🙌🏽💗

[@modavenyrosier]

Thank Youu!! So helpful I’m working on buying a car soon and this was the last piece of Knowledge I needed 🙏🏽

[@Road2FinancialPeace]

you are more than welcome love and good luck on your new car

[@patreaseashley9363]

Love your info it was nice to see a straight forward video with on point information

[@Road2FinancialPeace]

So glad it could help queen 💗

[@idrissalaam1092]

By the way,I just Love your Southern Accent!

[@royelllawrence6044]

This message is way more than help... it is knowledge

[@Road2FinancialPeace]

Glad it could help 💗

[@mssolo7883]

Whew chile...you gotta be from the South...just a Southern Belle thru and thru...im from Arkansas so I know the "twang"😉...but don't ever change if u can help it...I still think our accents are adorable...now let me go back and really pay attention to your video and learn something

[@Road2FinancialPeace]

Lol yes queen Mississippi ❤️

[@eyesopenknowledgeispower770]

Ark in the building

[@joypauline3236]

I just got a 2019 Acura with the paystub I got with Cyber Credible tbh

[@Sundance94]

I got pre approved car loan from capital one for 35k... how do I use this to my advantage... do I tell them I’m paying cash and then after negotiating the price of the car do I show them my loan reference number.. am I technically a cash buyer since I’m bringing them my own loan?

[@lilipage4216]

I would also like to know the answer to this

[@Road2FinancialPeace]

So since you already have your preapproval, yes you’d go to the dealership of your choice. Don’t tell them you have a pre approval. Just go and look at the car you’re interested in buying and then negotiate the pricing. Don’t let them know how much your approval is for because they will then try to get that full amount. After you’ve negotiated the pricing, you can then let them know you have a pre approval check. If they don’t want to negotiate, let them know you’ll be going else where. We’re in a pandemic so I’m pretty sure they’ll negotiate. I was able to get $5,000 off a new car by doing this method. Hope this helps.

[@lilipage4216]

@@Road2FinancialPeace thank you!

[@lilrabbitcuz]

Don’t tell them you are paying cash. So as she says and don’t tell them nothing until you negotiate OTD price. Also don’t pay over MSRP or invoice price. Don’t let them run your credit at all.

[@anjayladavis-fuqua6879]

@@lilrabbitcuz don’t pay over MSRP? What’s does that mean? Can you explain for me?

[@doincaKELLER]

Hello love your voice you are so right

[@Road2FinancialPeace]

Thank you 💗

[@Imamazing2023]

Perfectly put. Thank you and you look awesome!

[@Road2FinancialPeace]

You’re welcome and thank you

[@theodor33e]

Oh we whippin today

[@LiveYourBestLife33]

Love your energy😍...thanks for the info

[@Road2FinancialPeace]

You’re welcome

[@seymorechambers4998]

Thanks for the info. I appreciate the heads up on going through your personal bank instead.of the dealership

[@Road2FinancialPeace]

You’re welcome

[@patricelattimore5426]

Thank you so much! I learned something new today.

[@Road2FinancialPeace]

No problem glad I could help

[@_wil9572]

Love the accent and thanks for the video 👍

[@Road2FinancialPeace]

Thanks and no problem king 💪🏽

[@soniarena5250]

You gave really good info!!

[@toolivepee9553]

Love this video! Step 3 just as important As step 1!

[@izzyblack1938]

Thank you so much for making this video! I'm about to buy my first car (this will be my first vehicle in general) and I need all the purchasing power I can get!

[@Road2FinancialPeace]

No problem and let us know how it goes.

[@dimebagsss4237]

This was very informative for me!!! This will be my very first car as my biggest purchase on my very own! I’m happy I watched this video because I have very good credit & will be highly upset for it to decrease due to the dealership.

[@walteriraparksjr2622]

Thank you we all need this knowledge!

[@Road2FinancialPeace]

No problem and yes definitely have to spread the word.

[@abdourahmanendiaye3768]

Oh God this was very informative sis wish I could see this video back in 2020 though you just have me power and confidence on how I will go to my next dealership without any doubt of getting the car I want

[@ezpawn7837]

Thanks so much for this. I will try in june

[@Road2FinancialPeace]

you're welcome queen and good luck

[@tdavis6635]

She right about going to different dealerships getting your credit checked I went to just one and they ran it to too many banks and my credit went from a 675 to a 443 I was pissed and I told them to run it one time and he was like he did do it one time in my mind I told myself you need to prepare to lose your car or even worse for playing with my life like that

[@LoveDC605]

Great information thank you so much ..

[@Road2FinancialPeace]

you're welcome love. Glad I could assist.

[@ajpend]

Thanks, Teara. I'm grateful for this video.

[@Road2FinancialPeace]

You’re so welcome