How In-House Financing Works – Orlando, FL
In-house financing in Orlando, FL is a great way for car shoppers to receive instant approval and minimal hassle on their car loan. In-house financing is also referred to as buy here pay here financing. Due to the more lenient nature of in-house financing, this process is ideal for car shoppers who don’t have the best credit, or who may have limited resources. The best part is that the car dealer and the lender are the same institution, which makes the process quick and convenient for all parties involved.
The Dealer is the Lender
The key to how a buy here pay here dealership functions is that the dealership itself is the source of the auto loan that is granted to the customer. In some cases, these loans are underwritten by a finance company. This means that the customer does not have to deal with the hassle of going back and forth with a third party for the loan approval and management process.
Additionally, the dealers in Orlando providing the loans have the ability to make their own decisions in terms of approving customers. Often, buy here pay here dealerships will approve those with poor credit scores, because those customers deserve the opportunity to buy a car too. We provide 60-second approval to our customers to ensure that their valuable time isn’t wasted waiting to hear back on their auto loan.
Car Loan Flexibility
In-house financing allows buy here pay here lots to work with their customers on a personal level. Dealers will review each potential customer’s credit and finances once they are approved for a loan. Depending on factors such as these, the dealership and the customer can come to an agreement on financing terms for the auto loan. We’ll work with each customer to find the best car for their needs and budget while working to create the most suitable terms for their auto loan.
Car Loan Terms
When it comes to deciding the terms of the car loan, each buy here pay here dealership will typically decide on a case-by-case basis. This is because the resources, finances, and needs of each customer will be different. At CarLoanUnlimited.com, we work to find terms that suit each customer uniquely. We focus on a low down payment for customers, because this is often the main difficulty that customers face when trying to drive home in a vehicle they can call their own. Our payment structure is geared toward allowing our customers to own their car as quickly as possible, without any confusing long-term loan agreements.
