Consumer Car Buying Advice Blog

There are a number of advantages to getting an in-house car loan from a local car lot. With this type of loan, you get financing directly from the dealer and there is no credit check. Although these metro Toronto dealers have helped many people finance a car, it may not be the best choice for a bad credit car loan.

What is in-house financing?

Here at Auto Credit Express, when it comes to financing cars, we have seen it all. But for those people who are unfamiliar with what in-house financing is, it refers to a car dealer where you can not only buy a car, but a dealership where you can finance it, right there, with money that you actually borrow from the dealer instead of a bank, credit union or finance company.

Many customers in the market for a car – especially if they have bad credit – start by going to one of these dealers, thinking that they have no choice other than an in-house financed car loan. These customers think that because of their FICO scores, no regular car dealer will be able to get them approved for a loan. In many cases, this may be true.

Short job time, low income, no credit history

For many customers that have a short time on the job – maybe 3 weeks – a low income, say $500 per month, or no credit history, the chances of getting financed at a regular dealer are pretty slim. For these customers, in-house financing may be the only way that they can finance a car. But many people who believe that the “dealer financed” arrangement is their only option may be surprised at the number of other opportunities for financing that they really have.

Give Auto Credit Express a try before resorting to a finance arrangement with no credit check

The big advantage of an in-house finance arrangement is the fact that these dealers don’t require credit checks. But this also means that, in most cases, repaying this type of loan does not help your credit – since many of these lots don’t report your good payment history to the credit bureaus.

Since 1999, Auto Credit Express has been helping people with credit problems get approved for new and used car loans. Our nationwide network of dealers – from Nova Scotia to British Columbia – work with a wide array of lending companies to get you approved. These loans require a credit check, but once you are approved, each month that you make a car payment you are taking one more step in rebuilding your credit score and reestablishing your financial future.

So if you need to buy a car and think that your only option is a “in-house” dealer, visit our web site at www.autocreditexpress.com. Let us explain the benefits of getting financed through us. Our web site has calculators and a resource page that will help walk you through the process, while our secure online car credit application can be filled out in the comfort and privacy of your home. Visit us and see what we can do for you.

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