published july 2025
Shopping for a new (or new-to-you) car?
One of the smartest moves you can make is getting pre-approved for an auto loan before you ever set foot on the dealership lot.
We get it, the thought of getting pre-approved doesn’t sound as fun as taking a test drive. But trust us, this simple step can make a big difference.
Why pre-approvals matter.
Think of pre-approval as your car-buying guidebook. It gives you a clearer picture of your credit score, the interest rate you qualify for, and what your monthly payments might look like.
It also gives you time to ask questions, compare vehicles, and get honest answers from your lender.
When someone asks, “How much are you looking to spend?” you’ll already have your answer.
What to expect from the process.
Getting pre-approved is usually a quick and easy process. Most lenders offer free online applications.
Once it’s in, a loan specialist will typically reach out to walk you through your options and answer any questions you might have.
If you change your mind or need more time, no pressure. There’s no obligation to move forward.
Your pre-approval is typically good for 30 days. That gives you time to do your research, schedule test drives, and land on the right fit.
Why do credit union pre-approvals stand out?
With a credit union, you’re not just a number, you’re a member.
That means helping you through the entire process.
At STCU, our loan experts are knowledgeable, accessible, and on your side. They’ll answer your questions, walk you through options, and even help connect you with local dealerships if needed.
How does it help at the dealership?
Getting pre-approved helps you negotiate with confidence. When you already know your loan terms, you can focus on finding the right car, not figuring out financing.
If a dealership offers you a rate, you’ll already know how it stacks up.
Does it hurt your credit?
One of the biggest myths is that getting pre-approved will tank your credit score.
Good news: It usually doesn’t.
When you apply with multiple lenders while car shopping, credit bureaus group those inquiries together so if you're applying within a 15–45-day window, it typically only counts as one credit pull.
Pro-tip: Don’t mix in mortgage or personal loans during this time. They’re counted separately.
Pre-approval is one of the easiest ways to lower stress and increase confidence during the car-buying process. There’s no cost, no commitment, and no downside—just peace of mind, better budgeting, and smarter decisions.
Ready to hit the road? Start with a pre-approval.
Disclosures
This is written for educational purposes. All loans subject to approval.
