Start the application before you start shopping. You will know your real budget, the visit gets a lot shorter, and any conversation about numbers starts from something true instead of a guess.
What Does Pre-Approval Actually Mean?
Worth being precise, because the word gets used loosely and it matters what you are actually holding.
Pre-approval means a lender has looked at your information and indicated what they would be prepared to lend, before you have chosen a specific car. It gives you a realistic number to shop against.
What it is not is a guarantee. Final terms depend on the vehicle you choose, verification of the details you provided, and the lender's decision at the time of purchase. Anyone describing pre-approval as a done deal is overselling it, and you should be wary of them for other reasons too.
Two reasons, and the second is the one people underrate. First, you look at the right cars instead of falling for one that was never going to work. Second, the visit becomes a test drive and a signature rather than an afternoon in an office, which matters a great deal if you are driving in from Raleigh or Chapel Hill after work.
How the Process Works Here
Four steps. The first one takes about fifteen minutes from your sofa.
Apply online
Fill in the secure finance application on our site. You do not need to have picked a vehicle, and you do not need to come in first.
We match you to lenders
We work with a range of lenders who assess applications differently, and we submit yours to the ones most likely to suit your situation.
We tell you where you stand
A member of our finance team walks you through what came back and what it means, in plain language, including if the answer is not what you hoped.
Shop with a real budget
Come in, drive what fits, and finish the paperwork. Most of it is already done by this point.
What Do You Need to Apply?
Requirements vary by lender, but this list covers most situations. Having it ready makes the whole thing faster.
- A valid driver's licence. Current and not expired.
- Proof of income. Recent pay stubs usually. If you are self-employed, bank statements or tax returns.
- Proof of residence. A utility bill or lease agreement with your name and current address.
- Proof of insurance. Or be ready to arrange it before you drive away.
- Trade-in paperwork, if applicable. The title, and the payoff information if there is still a loan on it.
- References, sometimes. Some lenders ask for them, particularly on thin-file applications.
Some lenders run first-time buyer programs for applicants with little or no credit history, and what is available changes over time. Tell us when you apply so we look specifically at those options rather than the standard ones. For a thin-file application, proof of steady income and proof of residence genuinely move the needle, so bring both.
What If Your Credit Is Not Perfect?
A lot of people put off applying because they are bracing for an uncomfortable conversation. Here is our side of it, plainly.
What we will do
Applicants with a wide range of credit histories are considered. We work with several lenders precisely because they weigh applications differently, and an application one declines another may approve. We will tell you honestly what came back and what your realistic options are.
If the answer is that now is not the right time, we will say that too, and point you at what would change it. Our credit counseling page exists for exactly that conversation.
What we will not do
We are not going to promise you an outcome. You will see dealerships that promise approval up front, or advertise that your credit history will not matter. Those claims are not honest, and in most cases they are not legal either. A lender makes the decision, not a dealership, and nobody can commit to it in advance.
We are also not going to publish a rate or a monthly payment on this page. Every figure of that kind is set per applicant, and printing an example number would only mislead you about what you personally will be offered.
A full application involves a credit inquiry, which can affect your score. Credit scoring models generally treat multiple auto-loan inquiries inside a short shopping window as a single event, which is why concentrated shopping is better than spreading it over months. If you want to understand exactly what will happen before we submit anything, ask, and we will explain it first.
Applying From Around the Triangle
We are at 4515 Durham-Chapel Hill Blvd, on the 15-501 corridor between Durham and Chapel Hill. A good share of the applications we take come from outside Durham, and applying online first is what makes that practical.
From Raleigh it is roughly a half-hour run out I-40, and the heavy afternoon traffic goes the other way, which works in your favour. From Chapel Hill it is about fifteen minutes up 15-501. From Cary or Morrisville, twenty. In every one of those cases, the difference between arriving with an application already submitted and arriving cold is most of an evening.
If you work at Duke, UNC, or somewhere in Research Triangle Park and your window is a lunch break or the hour after work, that is the whole argument for starting online.
Pre-Approval Questions
Where can I get pre-approved for a car loan in Durham, NC?
What does getting pre-approved actually mean?
What documents do I need to apply?
Does applying hurt my credit score?
Can I get approved with less-than-perfect credit?
Do you have a first-time car buyer program?
Should I get pre-approved before I start looking at cars?
Can I apply if I live in Raleigh or Chapel Hill?
Talk to a Person
If you would rather ask questions before filling anything in, call and ask for the finance team. No application, no obligation, no pressure.
Sport Durst Mazda
4515 Durham-Chapel Hill Blvd, Durham, NC 27707
www.sportdurstmazda.com
Serving Durham, Chapel Hill and Raleigh. Sales:
(919) 873-4428What Triangle Customers Say
Fifteen Minutes Now Saves an Afternoon Later
Start the application from wherever you are. We will take it from there.
Credit applications are subject to review and approval by third-party lenders. Pre-approval is not a commitment to lend and is not final approval. Final terms, including amount financed, rate and length of term, are determined by the lender and depend on the vehicle selected, verification of the information provided, and the applicant's credit and financial circumstances at the time of purchase. Not all applicants will qualify. Program availability, including any first-time buyer program, is set by individual lenders and is subject to change. Sport Durst Mazda does not offer in-house or buy-here-pay-here financing. A credit inquiry may be made in connection with your application and may affect your credit score. Sport Durst Mazda is an equal opportunity provider and considers all applicants without regard to race, colour, religion, national origin, sex, marital status, age, or because all or part of an applicant's income derives from a public assistance program. Contact Sport Durst Mazda at (919) 873-4428, 4515 Durham-Chapel Hill Blvd, Durham, NC 27707, for full details.
