An estimate is not the final contract
A preapproval can give your shopping budget a useful starting point. I would still read what is conditional, when it expires and which vehicles qualify before treating it as the final answer. Ask the lender what checks it requires and whether it will make a credit inquiry.
We can practice that comparison here, but OffLot does not submit preapprovals or connect to lenders.
Compare the same scenario
Line up APR, term, amount financed, required down payment, fees, optional products and total payments. Credit history, loan-to-value, income and debts, vehicle age, term and lender policies can all affect an offer. A score alone cannot determine approval or price.
An original lender comparison sheet
Make columns for a bank, credit union and dealer-arranged proposal without assuming any channel will always be cheaper. For each written offer, list the vehicle, amount financed, APR, term, fees, payment schedule, total payments and expiration. Record conditions separately, including vehicle eligibility and any incentive that requires a particular finance source.
Comparing the same scenario makes a difference you can investigate instead of a vague impression.
Preapproval can provide a useful reference point, but read what remains conditional and how a lender verifies the final vehicle and borrower information. Ask about the credit inquiry before giving permission in a real application.
OffLot’s synthetic profiles are a teaching device; selecting one neither grants credit-check consent nor demonstrates that a real lender would approve a shopper.