ONE NEWS
Quarterly Newsletter • July 2024
Alabama ONE Branch Updates
V irtual Branch:
Our Virtual Branch now has extended hours to keep your applications moving along!
If you applied online, you may get a call from a loan officer up until 8PM on weeknights to obtain additional information, verify an answer, or address a question, to help process your personal loan, auto loan, credit card, and new account applications faster.
For a list of all locations, click here.
Why Should I Get Preapproved for an Auto Loan?
Acar loan preapproval puts you in a stronger negotiating position and helps you get the best interest rate possible. Preapproved loans show you the rate, payment, and loan amount ahead of time, so you can budget before shopping. You can also save money at the dealership by avoiding dealer markups. By arriving on the lot with a preapproved car loan, you’re transformed into a “cash buyer.” This means you can avoid being taken advantage of by dealer finance managers who may markup your interest rate, adding hundreds of dollars in interest over the life of your loan.
such as unneeded add-ons and extended warranty offers that you do not want. Alabama ONE offers auto loan preapproval, and you can apply online, over the phone, and
Preapproved auto loans put you in a stronger negotiating position by helping you to avoid the common dealer practice of focusing only on the desired monthly payment, and instead you can tell the dealer that you prefer to focus on the vehicle’s “out-the-door” price. This position also helps you deflect dealer upsells
to applying for a car loan, so you should come prepared with certain information. You will need to have ready personal information, such as contact information, housing details such as your address and how long you’ve lived there, employment information, loan details, like how much you want to finance, as well as trade-in information, if applicable. Get preapproved today! Visit www. alabamaone.org or visit your nearest branch and speak to a TEAM Member!
