Yes, subject to your loan being approved. A pre-approved loan is a loan that is arranged right through to the approvals stage before a commitment is made on a car purchase. The common practice used to be to first find and buy the car and then source finance. But more and more people are realising the benefits of having their finance approved prior to committing to a purchase. A pre-approved loan is arranged based on an estimate spend. You provide your broker or lender with a rough idea of the loan amount you will need based on the car price you will be seeking. They arrange your loan and have it approved to that value so you can confidently proceed. When you finalise your purchase, the loan is finalised based on the exact figure.