What is In-House Car Financing?

January 19th, 2021 by



If you’ve been turned down for a Subprime Auto Loan, also known as a Bad Credit Auto Loan, you may be wondering where to turn next. When you need a car fast, a great place to look is a used car dealership with In-House Financing. Here at Ole Ben Franklin Motors Alcoa, we’ve helped thousands of people dealing with Bad Credit find the financing they need that will work best for them and their families. We work with a nationwide network of dealers as well as having our In-House Financing, and want to connect you to one in your area today!

An In-House Financing Dealership is a Buy Here Pay Here Dealer, also a Tote the Note Dealer. These dealerships don’t rely on outside lenders to approve consumers for financing if they need In House Finance. Instead, they finance the cars themselves, without the need to find lenders that work with Challenging Credit Situations, dealers who finance in house typically Finance everyone. This can be a big plus for buyers trying to get a bad credit car loan and trying to purchase a new to you car, truck, or suv.

Because an In-House Finance dealer doesn’t rely on credit scores for loan approval, you have to prove that you have enough income to afford the payment, which are usually made weekly or bi-weekly in person. Besides proof of income, you’ll need to show proof of residency and have some kind of a down payment. Loan specifics and required down payment amounts vary by dealer.

These dealerships are often a good option if you’re having trouble qualifying for a bad credit car loan through a subprime or traditional lender. At Ole Ben Franklin Motors Alcoa we report your loan or payments to the credit bureaus to help build your credit, which means you will be building credit for the future.

The process of connecting to one of these dealers can be simple and quick. Contact Ole Ben Franklin Motors Alcoa either at 865-980-8216 or check us out at https://www.olebenalcoa.com/