In House Financing Auto Loans
In-house financing auto loans are available through Kirkland, WA dealerships that have chosen to offer financing directly on the lot. There are many benefits to using in-house financing to buy a car and many consumers will find it the best possible way to get a loan. Those with excellent credit to poor credit will often find that dealerships will offer the most flexible financing options at excellent rates.
Types of Credit Score
- Excellent credit: more than 750
- Good credit: 700+
- Average credit: 650+
- Poor credit: 600+
- Bad credit: less than 600
Purchasing a Car with Poor Credit
Those with poor credit or no credit will often find that in-house financing auto loans are their only option available. Many lenders have stopped lending entirely to this demographic because they are striving to avoid extra risk during lean times. This means that many of those with poor credit or no credit would have to pay in cash for a vehicle if it were not for special financed loans. These guaranteed lending methods make it very easy for those with even bad credit to get an auto loan and immediately get the car that they need.
Purchasing a Car With Good Credit
Those with good credit or excellent credit will find that guaranteed auto financing offers them a flexibility for repayment that other Kirkland lenders do not offer while still providing very good interest rates. Dealership financing will allow borrowers to set their own repayment terms and will allow borrowers to receive a loan with no down payment. This means that a borrower that has good credit but no cash can get a car immediately without having to save up money. It also means a borrower that has good credit but needs a low monthly payment can choose a lengthier repayment term.
How In-House Financing Helps
In-house financed loans are also extremely easy for the consumer. The consumer simply needs to show up at the dealership and explain what they need to the finance department. From there, the finance department will look at the consumer's current financial situation and determine what kind of vehicle they can afford. The consumer can then go on the lot and select a vehicle that they want.
Once the consumer has selected their vehicle our Doug's Credit Center dealership can do all of the paperwork immediately so that the consumer can leave with their new car. This means the consumer does not have to deal with an extra financial institution to get a bad credit car loan approved and that they don't have to wait for the approval process. The consumer usually needs nothing more than a few pay stubs as proof of income for the dealership to complete the required paperwork.