Your roadmap to car buying success
Getting pre-approved for your car loan was a smart move. Really smart.
You’ve just given yourself a massive advantage that most car buyers miss out on. But if you’re sitting there thinking “okay, now what?”, you’re not alone.
Let’s break down exactly what happens next and how to make the most of your pre-approval. Trust us, you’re going to love having this much control over your car buying journey!
Wait… you haven’t gotten pre-approved yet? No worries! Pop over here or call 13 FIDO (13 34 36) to get that sorted first. It only takes a few minutes, and you’ll understand exactly why pre-approved buyers have such a massive advantage.
Table of contents
What pre-approval means
Pre-approval means a lender has looked at your financial situation and agreed to lend you a specific amount of money. It’s not just an estimate or a maybe. It’s a genuine commitment to fund your purchase.
Think of it as having cash in your pocket, except it’s specifically earmarked for your next vehicle. You’ve got the financial backing sorted before you even step foot on a car lot.
The benefits of pre-approval
Pre-approval isn’t just a piece of paper that says “yes, you can borrow money”. It’s something that shifts the entire car buying experience in your favour. You’ve just moved from being someone who hopes they can get finance, to someone who definitely can.
Let’s look at exactly how this changes things:
The cash-buyer advantage
When you walk onto a car lot with pre-approval, you’re essentially a cash buyer. You can negotiate on price without the dealer factoring in their finance commission.
This gives you serious negotiating leverage because dealers love quick, guaranteed sales. You maintain complete financial control without any pressure to take their finance options.
Let’s say you get pre-approved for $30,000 and find a car listed at $32,000. Because you’re negotiating as a cash buyer, you might end up getting it for $29,500. That’s real money saved, simply because you sorted your finances first and could negotiate from a position of strength.
Most importantly, you’ll have the confidence that comes from knowing the deal is real when you shake hands.
Budget clarity
No more guessing games. You know exactly how much you can spend, which means you can focus on finding the right car instead of worrying about whether you’ll get approved.
This clarity stops you from falling in love with a car you can’t afford or wasting time looking at vehicles outside your range. You won’t get talked into “just a bit more” by persuasive salespeople because you know exactly where your limits are.
Protection against dealer finance pressure
We’ve all heard the stories. You negotiate a great price, then spend two hours in the finance office while they try to sell you extended warranties, paint protection, and their own loan products.
With pre-approval? You can politely say “thanks, but I’ve got my finance sorted,” and walk out with just the car you wanted.
Flexibility across all sale types
Your pre-approval works whether you’re buying from licensed dealers, private sellers, car auctions, or online platforms. Plus, you’ve got 90 days to use it. No rushing into decisions because your approval is about to expire.
Not pre-approved yet? No problem! Make a quick call to 13 FIDO (13 34 36) or click here to get sorted in minutes.
Your post pre-approval timeline
Getting pre-approved feels amazing… but it’s really just the starting line. The real fun begins when you start turning that approval into actual car keys in your hand.
Here’s what happens next:
Immediate next steps
First, get your documentation ready. You’ll need your pre-approval letter, driver’s licence, recent payslips (if they weren’t already provided), bank statements for final approval, and proof of insurance for the settlement day.
Now that you know your budget, it’s time to define what you’re actually looking for. Set your make and model preferences, decide on age and kilometre limits, and work out which features are must-haves versus nice-to-haves.
Let’s go shopping!
This is where pre-approval really shines. You can take your time comparing options, negotiate from a position of strength, and walk away if the deal doesn’t feel right. You’ve got the freedom to consider both dealer and private sale options without any pressure.
When you’re out shopping, get independent inspections on used cars and research market values before negotiating. Don’t be afraid to shop around, and remember that you’re the one with the money. That puts you in control of every conversation.
Finalisation
Once you’ve found the right car, contact your broker to confirm final details, arrange settlement timing, and organise insurance (required for secured loans). Then it’s just a matter of completing the paperwork.
The beauty of pre-approval is that this final step is usually just administrative. The hard work is already done.
Making the most of your 90 days
Don’t rush, but don’t overthink it either. You’ve got three months, which is plenty of time to find the right car without settling for something that’s just okay.
Use your leverage. Remember, you’re the buyer with guaranteed finance, and that puts you in the driver’s seat during negotiations.
Stay within your pre-approved amount. It might be tempting to stretch a bit further when you find your dream car, but your pre-approval amount was calculated based on what you can comfortably afford.
Consider the total cost too. Factor in registration, insurance, and any immediate repairs or modifications when planning your purchase.
What if you don't find the right car?
The thing about pre-approval is that there’s no obligation to use it. If you don’t find a car you love within 90 days, you simply don’t purchase anything. No fees, no penalties, no drama.
You can always get pre-approved again when you’re ready to start looking.
Ready for your next car?
Smart car buyers get their finances sorted before they fall in love with a car.
Getting pre-approved with Fido Finance gives you budget confidence from day one, negotiating power that saves you money, and protection from sales pressure.
Plus, you get 90 days to find the perfect car with the flexibility to buy from anyone, anywhere.
Ready to take the exciting first step? Get pre-approved today and shop with complete confidence.
Fill out our simple online application or call 13 FIDO (13 34 36) to chat with our friendly team about sorting your finances.
