Take advantage of the most convenient in house financing Houston, TX at Liquidator Auto Sales. Our dealer loan program helps you purchase the vehicle you need to get back on the road regardless of credit problems or past rejections. Some of our loan options are even better than traditional bank loans.
What Is In House Financing?
Most car shoppers need financing to buy a car, and they usually depend on loans from banks or credit unions. While these solutions are common, they’re not always optimal. Third-party lenders introduce complexities into the car buying process that might kill a deal and prevent you from driving away in the vehicle you need.
In-house dealer financing is a loan on your vehicle financed using the dealership’s money. The business you purchase your vehicle from is the same business where you make your payments.
These programs help those with unique situations. If your credit report is less than stellar or if this is your first car loan, in house financing might be the best solution for you. The dealer can work with your situation to create a customized plan that fits your exact needs.
Why Is Auto Liquidators In House Financing Houston TX Advantageous?
The key benefit is a flexible lending solution.
A dealer in house financing is often:
- Faster – The finance team does not need to confer with a third party.
- Easier – Approval depends on your income, down payment, and residence.
- Reliable – The dealership makes sure the transaction finalizes.
- Customizable – Payments fit your specific situation instead of a bank’s boilerplate terms.
- In-House lending programs are also good for your credit score. Buying one of these no credit check cars Houston does not impact your credit score with a hard inquiry. Make your payments on time, and the loan helps you establish positive credit history as you pay off your loan.
To qualify, provide proof of income and your residence history. The down payment is negotiable, and the payment term can vary from deal to deal.
When Is In House Financing a Better Option?
In a typical auto deal, the paper you sign before you drive away is a conditional sales agreement. The dealership checks your credit and offers you a financing rate and payment, but this deal structure is hypothetical until the lender agrees. Banks have the option to decline a loan after the fact.
If the dealer’s finance department makes a mistake, the bank may refuse to honor the contract. When a bank rejects a loan, it forces you back to the negotiating table. Sometimes buyers must return their vehicles after they’ve been driving them for a few days.
With an in-house deal, the risk of unwinding a deal is exceedingly low. With your dealership as your lender, the agreement you sign at the time you take possession is the same deal you get when the paperwork finalizes.
The risk of a bank deal unwinding is always higher for those with credit issues. That’s why it’s crucial to work with our sales and finance team who will understand your situation and who provide you with the best possible service.
How Can I Know If the In House Financing Houston TX Is Right for Me?
Not all in house financing programs are the same. Some dealers overcompensate for the default risks by charging higher interest rates on poor quality cars. Others might attempt to repossess the vehicle the very moment a payment becomes past due.
Your credit difficulties are not a good reason to accept bad service. When shopping for an in house financing solution, work with an established dealership in your area that can offer you the best package.
Look for the following features:
- Credit Reporting – The dealership should report your payments to the three main credit bureaus.
- Excellent Vehicle Quality – Buy a late model, low mileage vehicle with plenty of life left in it.
- Wide Selection – The deal structure should fit several different vehicle options.
- Secure Payments – The dealership should have a simple payment system for you.
At Liquidators Auto Sales, we accept online payments and update your file with the three main credit reporting bureaus to help you establish a positive credit history. We also have a large selection of high-quality, certified used cars Houston.
We are ready to help you get your next set of wheels regardless of your situation. Fill out our contact form and describe your circumstance to us. We’ll put some options together for you to consider.
In House Financing Houston TX Is a Better Option than a Bank Loan | Liquidator Auto Sales – Houston, TX