Hyundai Financing Tips: Getting Pre-Approved

The finance department at Blaise Alexander Hyundai of State College can assist you in the Hyundai pre-approval process. Getting pre-approved is a pivotal step in setting a budget when investing in a vehicle purchase. Learn how this process works and tips to ensure a successful pre-approval.

Check Your Credit Score

The dealers will perform a credit check, but you should check your score beforehand. You can get a free report at a credit reporting agency like Equifax and Experian. While there’s no set consensus, it’s generally best to have a minimum score of 661. A score of 720 or above is ideal.

Get Pre-Qualified

Pre-qualification isn’t the same as pre-approval. The former is a less formal process to get you ready for the pre-approval stage. With pre-qualification, the dealer may perform a soft credit inquiry to determine your eligibility. Likewise, the dealer may also simply inquire about your financial standing and use the self-reported information.

Bring the Required Documents

When you come by our dealership, bring physical copies of the following documents:

• Driver’s license
• Proof of income, such as pay stubs or bank statements going back at least three months
• Utility bill or mortgage statement with the address on your ID

Know Which Model and Trim You Want

Establishing a budget becomes far easier once you have a model and trim in mind. This way, if the model or trim you want is outside your budget, you can reconsider and perhaps aim for a lower trim or a pre-owned model.

Get Pre-Approved at Our Hyundai Dealership in State College, PA

The finance team at Blaise Alexander Hyundai of State College makes the pre-approval process quick and efficient. Once pre-approved, you’ll know which loan you qualify for, the interest, monthly payment, and more. Contact us today to get started!

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