Delgado Auto Sales LLC

Phone: (214)677-1305   Working Hours: Mon - Sat (9:30am-6:00pm)
Delgado Auto Sales LLC , 2904 E main Street Grand Prairie, TX 75050


In-House Financing: What Does It Mean?

In-house Financing

Used car dealerships are notorious for using in-house financing as an option to help out those looking for a car with no credit or bad credit, especially buy here pay here dealerships. But what exactly does in house financing mean? Well it’s simple, in house financing means that instead of having to go through a bank or some sort of financing firm to acquire funds for a product, like a car, you go directly through the dealer. Eliminating the middle man between you and the dealer.

Now that we have an overview about what in-house financing is lets get into more detail like the pros and cons that come with buying at buy here pay here dealerships. As stated before most, if not all, buy here pay here dealership offer in-house financing. There are a few plus sides to this. First, for who have bad credit or no credit buy here pay here dealerships are a great source to help you get a vehicle you may otherwise not be able to get. This is because most of the time these dealerships do not require credit checks, who the dealer lends to is under their own discretion. As long as one has a form of identification, proof of employment or any other requirement from the dealer you will most likely be good to go.

In addition to no credit checks buy here pay here’s or in-house financing dealerships allow you to continue dealing with the dealership through out your loan period. This can be beneficial in the sense that when the time comes to getting your next vehicle, given that you have built a good relationship with the dealer, the process will be much easier and the dealer is more compelled to work with you on prices and payments.

 Lastly, in-house financing dealerships typically offer flexible payment schedules like weekly, bi-weekly, or monthly payment that one normally does not get from other financing firms. Cons on the other hand do include the fact that because they do not normally report to the credit bureau it will have no affect on raising your credit, if that is your goal then this can be a down side. Another con is that you are limited in options as far as inventory in concerned to the ones held at the dealership. Over all buy here pay here dealerships with in-house financing are a great option for any one looking to buy a vehicle, not just those with bad credit.



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