® 
Pre-approved loans are just marketing tactics used by banks and lenders to get your attention. These pre-approved offers are given based on the information they have in their database. Hence, it may not include the complete picture.
A pre-approved loan will be converted to an actual loan provided you fulfil the requirements for the loan and accept the terms and conditions offered by the bank. So, there are chances that your ‘Pre-approved Car Loan’ may be rejected once the actual application process starts.
The bank generates these pre-approved offers based on your account activity and repayment records that you hold with the bank. But once you submit the application, the lender will pull your credit score and if it is not satisfactory, you may either be rejected or get a loan offer that is not as attractive as the pre-approved offer.
Remember, that you need not accept the offer if you don’t find it lucrative. You can always shop with other lenders. You can even use the pre-approved offer to negotiate with another lender and get a better price.
Key Takeaway
Pre-approved loan offer is just an in-principle agreement of a car loan. It necessarily need not mean that you will get the same offer after the loan process. But use the pre-approved loan offer to your advantage and negotiate with the lender for a better loan offer.