“Terms and conditions around financing can be confusing!
In-house car financing tries to make everything easy. Once you decide on a car you like, the dealership will handle all the paperwork and financials. Because of this, dealerships with in-house financing are also called buy-here, pay-here.
Unlike traditional lenders, dealerships often don’t judge your loan worthiness by your credit score alone. If you have bad credit or no credit, in-house financing can be useful. However, since the dealership controls the loan, you may spend more money on interest or have less favorable terms than through a bank or credit union.
No matter where you get financing, try to do the following: