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An in-house financing dealership is a car dealership that lets buyers finance their vehicle from the same place they make the purchase. This can make your car buying experience more.


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Choosing used car in-house financing gets you everything you need in one place. Because the dealership is lending to you directly, you'll experience an easier and faster approval process. Budgeting also becomes easier when you're able to discuss insurance options and extended warranties while you're applying for the loan.


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Updated: December 26, 2023 Banks and auto dealers aren't always your best option when seeking a loan because they aren't quite as impartial as you'd like them to be. That's why many consumers today look for alternatives to in-house car financing.


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The average cost for a car on a buy-here, pay-here lot in 2018 was $7,004, and the average down payment was $950, according to a 2019 industry report from the National Independent Automobile Dealers Association. Once the dealership determines the loan amount you qualify for, it will show you cars within that price range that you can choose from.


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How in-house financing car lots work. In-house financing works by applying for your auto loan on site, through the dealership. Commonly referred to as "buy here, pay here" auto loans, this type of financing means that you'll buy the car and take out your loan from the same company. This kind of financing can be risky.


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Used car lots with in-house financing put everything you need in one place, including sales and financing and even service. Because the dealership itself is lending you the money, the approval process is much faster and easier. You can budget more efficiently when you discuss insurance options and extended warranties at the same time that you.


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In-house financing dealerships sell cars and fund auto loans all in one place. Depending on your credit situation and needs, in-house financing can be a great option if you need a car fast.


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