How Safe is In-House Financing for Your Credit?

You’ve decided you need a new car. Your life can progress no further without a vehicle. You visit a dealership in Orlando and are told in-house financing is available. What do you do? Can you trust the dealership? Will in-house financing hurt your credit?

Let’s take a step back and look at the big picture. The big picture is full of stereotypes of greasy car salesmen with waxy mustaches. They will say and do anything to make sure you drive away in new car. They will make you any deal and make that deal sound like a dream come true for you. But you know there is a catch. There is always a catch. Right?

Obviously this stereotype had to start somewhere. Maybe some car dealership far from Orlando did have this reputation. Maybe they tricked customers into making bad deals. That doesn’t mean that is how things still work. There are honest dealerships that provide in-house financing that will benefit you and your credit, no catch.
New scenario: you walk into a dealership like Automotive Link or visit CarLoanUnlimited.com. You know this dealership is a Buy Here Pay Here dealership that specializes in poor credit scores. You wonder if it will be safe for you to purchase a car when your credit score is already damaged, but you have no other option. You need a car.
You are greeted by a kind car dealer. He shows around and helps you pick out a decent car that will meet your needs. Now it’s time to pay. You sit down and start going over the in-house finance plan. But something unexpected happens. You don’t get that nervous feeling in your gut. You feel at ease and confident that, not only will you be able to drive away in your new car, but you will be able to pay for it and improve your credit score. Everyone wins.
The moral of this story is that in-house financing depends on the house. Corrupt dealerships who want to take advantage of you do exist. But there are dealerships you can trust. Any time you buy a car, both you and the dealership are taking risks. But as long as you make your payments, you, your car, and your credit are safe.

Come visit us at our Automotive Link location or at CarLoanUnlimited.com.