News and Announcements

Message from the President/CEO

Dear Member,

Before you go car shopping, make time to get pre-approved with your TRUSTED lender. With Best Reward’s Auto Buying Center you can shop online, access free CARFAX Reports, and get pre-approved quickly. And remember, your personal information is kept confidential until you are ready to contact the dealer.

Benefits to a Pre-Approval

  1. Better Interest Rate - With dealer-arranged financing, the dealer collects information from you and forwards that information to one or more prospective auto lenders. If the lender(s) chooses to finance your loan, they may quote an interest rate to the dealer to finance the loan, referred to as the “buy rate.” The interest rate provided by the dealer may be higher than the “buy rate” because it may include an amount that compensates the dealer for handling the financing. Plus, unless you pay fees and taxes up front, they’re added to the total package and you’ll pay interest on them.
  2. Realistic Budget - When you shop ahead of time for your auto loan, you’re more likely to understand the type of payment you’ll end up with based on how much you spend, and you can take your time to evaluate the numbers without additional pressure at the dealership. By knowing this information before you shop, you can focus your energy on cars in your price range and avoid the rest.
  3. Simplifies the Dealer Experience - You’ll have the upper hand when you negotiate for the best deal. Since your financing isn’t tied to the dealership, you can take that pre-approval to any car dealer and they know it. With a pre-approved loan offer in your hand, you’ll have a set price you don’t want to stray from. When it comes to the add-ons and upgrades dealers try to sell you at the end – or the well-known tactic of stretching your loan out to 7 years to lower your monthly payment – you won’t fall for it.

Remember, just because you approach the dealer with a pre-approved auto loan doesn’t mean you can’t choose dealer financing in the end if it’s a better deal. The whole point is that with a preapproved auto loan, you’re the one in the driver’s seat. Best Reward never engages in predatory practices with exorbitant rates and fees – and unlike most auto dealerships – our knowledgeable staff does NOT earn a commission, so we can focus solely on your financial needs and BEST interest.

This is why Best Reward is your TRUSTED lender!


John J. Shirilla

If you have a question or comment and would like to share it with the President/CEO, you can email him HERE.  Your security is our top priority. Please do not include personal information in this email; such as your Account Number or Social Security Number.

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