Most car owners spend a lot of time behind the wheel, and the vast selection of vehicle styles and models on the market can make the car-buying process pretty overwhelming. After all, purchasing a car is one of the biggest decisions you can make in a lifetime. Whether your weekly drive involves traveling to and from work, taking care of routine errands, running the kids to football practice, or taking a long road trip through the North Carolina mountains, finding the right car that fits your needs and lifestyle is a must.
But purchasing a new ride is easier said than done. Picking out your dream car is the first step, but bringing this dream to life also involves research and some financial know-how to do it right. Most buyers don’t have the ability to pay for a vehicle with cash, so applying for an auto loan is the only way to make this purchase work. For people who’ve had credit snafus in the past, this fact can be somewhat discouraging. It’s tough to get financing when your credit report reflects a lack of fiscal responsibility at some point in the past.
Luckily, there’s a solution for people with even the worst credit history. A quick search on in house financing car lots near me might provide the answer. An in house financing dealership will customize a loan package and deliver the funds you need to get a car and get back on the road quickly and without hassle. If you’re unsure whether or not your credit will pass the test with traditional lenders - like banks and credit unions - this option may be just right for you.
Dealerships that offer in house financing for cars on their lots are much easier to work with than your more traditional car lots. Working with a dealer that has this type of financing opens a window of opportunity you may not find elsewhere. In house financing dealerships, sometimes known as buy here pay here dealerships, are willing to take on the risk involved in making a loan to someone with poor credit in exchange for securing the sale.
Unlike some of the more conservative financial institutions that require loads of paperwork, credit checks, and collateral, an in house financing car dealership is willing to look the other way when it comes to your credit score. That’s because they’re more interested in your future than in your past. This fact alone makes this type of dealership worth the time to check out. It creates a win-win situation for both parties.
Get your wheels. There are several upsides to obtaining your loan through an in-house financing dealer. The most obvious one is that you’ll be able to purchase your new ride! Bad credit spoils a lot of things, and securing a loan for a necessity like a car is just one of them. With an in house financing car dealership, you’ll have no problem getting a loan when more rigid lenders turn you down. It’s hard to put a price tag on that peace of mind!
Save time. The second reason to love these dealerships is the quick turnaround time for finalizing paperwork and confirming the loan. When working with a bank, the loan approval process can take days, even weeks. Working with an in-house financing team helps you virtually eliminate the run-around and simplify the approval process. Many in house financing dealerships have online credit applications that make it easy to apply and are quick to get an answer back. Plus, many of these dealerships guarantee credit approval! You’ll know before you walk onto the lot that you’ll be driving away in your new wheels.
“Erase” the past. Lastly, working with an on-the-lot financing dealership gives you a chance to repair the damage done to your credit score. Most dealerships report timely payments to the top consumer credit agencies, which ensures that you get points for good behavior. While it doesn’t actually erase the past, it certainly helps get you going in a new direction financially. And that’s worth a lot if you need to borrow money again in the future.
Even though in-house dealerships offer a quick solution, you’ll still need to uphold your end of the bargain. Before stepping foot on the lot, do your research and prepare accordingly. You’ll need to come with necessary documentation like a valid driver’s license, proof of insurance, pay stubs, and a checkbook for the down payment. A quick call ahead of time will confirm any additional information that’s required for completing the sale. Dealerships vary in their requirements, but a simple phone call or glance at the website can help you avoid any delays due to incomplete documentation.
It’s okay. Buying a new car can be overwhelming and confusing. It’s normal to have doubts about who to trust and where to turn when it comes to making an investment like this. But you’re not without options. Do a Google search on “in house financing car lots near me,” and there’s no doubt that AutoMax will show up your search results. That’s because AutoMax is a trusted in house financing dealership that’s been helping North Carolina residents buy the car of their dreams for over 30 years. They have lots in Henderson and Youngsville to serve customers in those cities and throughout the Raleigh and Durham region. A huge inventory selection and top-notch sales team are what sets them apart from competitors. Plus, their finance team is ready and willing to help you set up a financing plan that works for your budget.