How do I pre-qualify for a vehicle?

Asked by Wallmaster23 Sep 12, 2016 at 04:48 PM about the 2007 Mitsubishi Eclipse Spyder GT

Question type: Shopping & Pricing

2 Answers

65

pre qualify means knowing what your credit and income would with stand. For example i work for a dealer, before customers want to go for test drives and all the fun stuff I try to pre qualify them to make sure that we have a chance to get them approved for the loan before we possibly waste time for nothing.

1 people found this helpful.
2,960

You don't get pre-qualified for a loan, you simply get qualified, and you can do that yourself. Go to creditkarma dot com and check your FICO score. Then note your salary. When shopping for a car remember to never spend more than 10% of your annual salary on a car. That means always living beneath your means. If you make $40,000 a year, don't spend more than $4,000 on a car. You can get a very nice used car for $4,000 if you shop around. In other words, do NOT go to a car lot. They will gouge you for all you're worth.

1 people found this helpful.

Your Answer:

CarGurus Experts

  • #1
    dandyoun
    Reputation
    2,670
  • #2
    spyder99
    Reputation
    660
  • #3
    Charlie St
    Reputation
    620
View All

Find great deals from top-rated dealers

Search

Related Models For Sale

Used Mitsubishi Eclipse
8 listings starting at $9,800
Used Ford Mustang
40 Great Deals out of 1,609 listings starting at $5,999
Used Mazda MX-5 Miata
6 Great Deals out of 190 listings starting at $7,950
Used Chevrolet Corvette
33 Great Deals out of 812 listings starting at $14,900
Used Nissan 350Z
16 listings starting at $11,999
Used Jeep Wrangler
130 Great Deals out of 5,983 listings starting at $2,995
Used Mazda MAZDA6
10 Great Deals out of 213 listings starting at $3,995
Used Mitsubishi Lancer
6 Great Deals out of 142 listings starting at $2,998

Content submitted by Users is not endorsed by CarGurus, does not express the opinions of CarGurus, and should not be considered reviewed, screened, or approved by CarGurus. Please refer to CarGurus Terms of Use. Content will be removed if CarGurus becomes aware that it violates our policies.