What is On-the-Lot Car Financing / In House Financing?

On-the-lot car financing / in house financed dealerships seem to be everywhere these days but the concept is not a new one. There are many reasons you see these types of dealerships today but one of the main reasons is dealerships needed more flexibility than the banks would offer to finance customers. Each dealer that offers on-the-lot car financing can offer loans to customers that would not traditionally qualify for a long with the bank. As a customer, there are benefits to.

Here are the top 3 Benefits to On-the-Lot Car Financing

  • 1. It’s easier to qualify for a loan
    On-the-lot car finance dealerships, like Central Auto Sales, make it easy to qualify for a loan and can provide more flexibility than a bank. At Central Auto Sales, we can often provide a financing decision in just a few minutes with a basic online application.

  • 2. You can still qualify with bad credit
    Bad Credit or No Credit? No problem! Like many on-the-lot car financing dealers, we focus on the person and not the credit score.

  • 3. Getting on-the-lot car financing can actually help your credit score
    Working with an on-the-lot financing dealership can actually improve your credit score when you make your monthly payments in full on time, every time. We will report your on-time payments to one or more of the top consumer credit reporting agencies. This goes on your record and shows that you’re a financially responsible person who can be trusted with a loan. Over time, your payments help boost your credit score, and before you know it, your credit score will be soaring higher.