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A preapproval simply means that you've applied for your car loan and have been approved for a set amount at a specific interest rate before you buy your car or. Pre-approval means your sending them your credit info to get an approval ready. You're giving them the necessary info pre-your approval to see. What Does it Mean to Be Pre-qualified for a Car Loan? Getting pre-qualified means you are approved for a car loan on a conditional basis. Think of a pre-. What is a preapproved auto loan? With a preapproval, a lender gives you the okay to borrow up to a certain amount to buy a vehicle. The preapproval gives you. Do you need to get preapproved for a car loan? An auto loan preapproval involves applying with a lender prior to shopping for a car so that you know how much.
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