As you shop for a car in the Memphis, TN area and work with a dealership to finalize the transaction, you may be offered in-house financing. What is in-house financing, you may ask? In-house financing, as the name implies, is financing done in-house right at the dealership. This means that rather than paying a bank or credit union, you make each of your payments directly to the dealership or their affiliated finance company.
While you explore in-house financing, you may encounter many benefits. First, in-house financing is generally very quick and convenient. Since customers that use in-house financing finance directly with the dealership or their affiliated finance company, they won’t need to go through a third-party lender. As a result, they can ask questions they have with the dealer upfront and will not need to wait to get approved by the bank.
Another benefit of in-house financing is its availability to many diverse credit backgrounds. No matter if you have no credit, challenged credit, or good credit, there may be financing options available to you with in-house financing! Additionally, each individual customer's specific financial situation is catered to so they can receive an affordable loan offer.
Finally, another big benefit of in-house financing is flexibility in the payment options. Banks and credit unions may not allow certain payment methods or payment frequencies. With in-house financing, customers can work with the dealership’s in-house financing team to customize the financial plan to best fit them. For example, if a borrower needs to pay bi-weekly rather than monthly, there’s a good chance that the dealership will be able to make those accommodations.
Our financing team at our Memphis, TN U.S. Auto Sales dealership is ready and happy to help anyone shopping for their next car find the right vehicle at the right price. To enjoy the benefits of in-house financing with a leading dealership in the southeastern U.S. region, apply for your next car loan with us at U.S. Auto Sales today!