https://vimeo.com/259355638 We often enter a car purchase at a distinct disadvantage. Though we’ve already completed research about the car we want and the price range we can afford, we expect the dealership to provide our financing. In a market famous for negotiation, we enter the most important commitment, our auto loan, essentially at the mercy of the dealer. You level the playing field, however, when you arrive at the dealership with your financing in hand. Your car purchase becomes just that—a car purchase. Coming in with financing already in is just one of several advantages you can enjoy when shopping for a car in today’s market. There are multiple other reasons to get preapproved for your car loan in addition to arriving with the “check in hand” when you enter a dealership. When you meet with an Envision Bank loan officer, you’ll explore every detail about your potential purchase, determining how the vehicle fits into your budget and the value you attach to a vehicle in general. For example, a Realtor may need a luxury SUV for work, whereas a tech worker who mostly bikes to the office might prefer a compact hybrid. In short, your loan officer cares about you first and the car purchase second. Of course, pre-applying for an auto loan may also provide a “reality check” about how much car you can actually afford. And remember, even if you don’t get a loan from your bank, you’ll arrive at the dealership armed with the knowledge of what competitive interest rates should look like. Like every element of your car purchase, you can’t assess an offer if you don’t have any comparable information, which is where the Internet comes in. The Internet has certainly changed commerce forever. However, it initially appeared that car buying might remain immune to the changes brought about by the Internet. A vehicle was an acquisition that seemed too large for a virtual purchase; the car sales culture was too codified. Sure, you might research comparable vehicles and check out the Blue Book value of your trade-in, but you would still head to the showroom to close the deal. It’s true that most of us still prefer a personal interaction when we buy a car, but online tools, from price comparisons to actual bargaining, have now changed the auto sales industry as much as any business in America. Rather than “forcing” your choices into a dealership’s available inventory, the Internet allows you to see every available feature for your new car so that you can essentially build your perfect vehicle. You choose your extras without any traditional onsite sales pressure to add some costly accessory you’d never consider on your own. “You can take it home today” isn’t good enough anymore. Online information also provides comparisons of each version of a particular model—for example, how the LX compares to the EX version. Since you complete the addition, you might be able to add your favorite features—seat warmers, a sunroof—to a mid-level model and spend less than you would for a maxed-out premier model with a bucket of features you won’t ever use, like tech gadgetry. Know how your smart phone can feel outdated before you even get it home? Now imagine how the latest tech advance in your car is going to seem after a couple of years. The pace at which technology is advancing today means that today’s latest gadget might be ancient history when it’s time to trade in your car in a few years. I mean who remembers the 8-Track? You have to decide if the additional cost for such cutting edge “extras” is worth paying a premium for, especially if that latest extra is brand new to the market. When you are thinking about what you can afford and an Envision Bank team member can help you figure out the true costs of those extras. They say knowledge is power. This has never been truer than when purchasing a vehicle. Employ this intelligence like you’re closing a business deal worth tens of thousands of dollars, because that’s exactly what you’re doing. Car salespeople hope to appeal to your emotions—it’s why you purchased that last sunroof—but don’t let them. Pick a strategy to keep reminding yourself this is a significant business transaction. Establish your ground rules ahead of time, or bring an objective spouse or friend who won’t allow your emotions to get away from you. Of course, not everything has changed when it comes to purchasing a new automobile. The salesperson is still open to negotiation, so be prepared to haggle! This includes most facets of your purchase, from sticker price to interest rate. Complete your Internet research and then speak with your Envision Bank loan officer about your car loan. Taken together, the info and the numbers—combined with your self-discipline—will provide the best opportunity to make the best business deal for your new car. We often enter a car purchase at a distinct disadvantage. Though we’ve already completed research about the car we want and the price range we can afford, we expect the dealership to provide our financing. In a market famous for negotiation, we enter the most important commitment, our auto loan, essentially at the mercy of the dealer. You level the playing field, however, when you arrive at the dealership with your financing in hand. Your car purchase becomes just that—a car purchase. Coming in with financing already in is just one of several advantages you can enjoy when shopping for a car in today’s market. There are multiple other reasons to get preapproved for your car loan in addition to arriving with the “check in hand” when you enter a dealership. When you meet with an Envision Bank loan officer, you’ll explore every detail about your potential purchase, determining how the vehicle fits into your budget and the value you attach to a vehicle in general. For example, a Realtor may need a luxury SUV for work, whereas a tech worker who mostly bikes to the office might prefer a compact hybrid. In short, your loan officer cares about you first and the car purchase second. Of course, pre-applying for an auto loan may also provide a “reality check” about how much car you can actually afford. And remember, even if you don’t get a loan from your bank, you’ll arrive at the dealership armed with the knowledge of what competitive interest rates should look like. Like every element of your car purchase, you can’t assess an offer if you don’t have any comparable information, which is where the Internet comes in. The Internet has certainly changed commerce forever. However, it initially appeared that car buying might remain immune to the changes brought about by the Internet. A vehicle was an acquisition that seemed too large for a virtual purchase; the car sales culture was too codified. Sure, you might research comparable vehicles and check out the Blue Book value of your trade-in, but you would still head to the showroom to close the deal. It’s true that most of us still prefer a personal interaction when we buy a car, but online tools, from price comparisons to actual bargaining, have now changed the auto sales industry as much as any business in America. Rather than “forcing” your choices into a dealership’s available inventory, the Internet allows you to see every available feature for your new car so that you can essentially build your perfect vehicle. You choose your extras without any traditional onsite sales pressure to add some costly accessory you’d never consider on your own. “You can take it home today” isn’t good enough anymore. Online information also provides comparisons of each version of a particular model—for example, how the LX compares to the EX version. Since you complete the addition, you might be able to add your favorite features—seat warmers, a sunroof—to a mid-level model and spend less than you would for a maxed-out premier model with a bucket of features you won’t ever use, like tech gadgetry. Know how your smart phone can feel outdated before you even get it home? Now imagine how the latest tech advance in your car is going to seem after a couple of years. The pace at which technology is advancing today means that today’s latest gadget might be ancient history when it’s time to trade in your car in a few years. I mean who remembers the 8-Track? You have to decide if the additional cost for such cutting edge “extras” is worth paying a premium for, especially if that latest extra is brand new to the market. When you are thinking about what you can afford and an Envision Bank team member can help you figure out the true costs of those extras. They say knowledge is power. This has never been truer than when purchasing a vehicle. Employ this intelligence like you’re closing a business deal worth tens of thousands of dollars, because that’s exactly what you’re doing. Car salespeople hope to appeal to your emotions—it’s why you purchased that last sunroof—but don’t let them. Pick a strategy to keep reminding yourself this is a significant business transaction. Establish your ground rules ahead of time, or bring an objective spouse or friend who won’t allow your emotions to get away from you. Of course, not everything has changed when it comes to purchasing a new automobile. The salesperson is still open to negotiation, so be prepared to haggle! This includes most facets of your purchase, from sticker price to interest rate. Complete your Internet research and then speak with your Envision Bank loan officer about your car loan. Taken together, the info and the numbers—combined with your self-discipline—will provide the best opportunity to make the best business deal for your new car.