We finance used cars right here in our store near Cary:
You can get in-house loans for used cars near Cary. People from Raleigh to Apex come to Hendrick Chevrolet Cary every day to buy used cars and get loans right there in the store. Our loan team is the best in the Holly Springs area, and we work hard to make sure you get the best deal possible. Find out why in-house financing for used cars is a good idea, and then go find your next car in Cary today.
What does “In-House Financing” mean?
There are several ways to pay for your next car once you’ve decided whether to lease or buy. For affordability and ease of use, in-house funding for used cars is a popular choice. What does “in-house financing” mean?
In-house financing at used car lots means you get the loan from the store itself. While some lenders put you in touch with other lenders in the area. That means there is no third party or middleman. There is more freedom for both the store and the customer. The company doesn’t have to follow the rules that other lenders set. So customers can get better deals, which is especially helpful for people with bad credit.
Why should you buy a used car through in-house financing?
So why should you finance your used car through our company instead of another one? There are some benefits to buying a used car from a lot that offers loans that you won’t find anywhere else.
With in-house financing, used car lots have everything you need in one place, from sales to finance to service.
Because the company is giving you the loan, it is much faster and easier to get approved.
If you talk about insurance choices and extended warranties while you’re applying for a loan. You can make a better budget.
Plus, Hendrick Chevrolet Cary has the best variety. Our team can help you find exactly what you need, whether you want a cheap deal that fits your budget or an approved pre-owned model that gives you extra peace of mind.
Hire Hendrick Chevrolet Cary to finance your used car right there in the store:
“Where can I find used cars near me that I can finance?” You can find out more about your financing choices for your next car by going to Hendrick Chevrolet Cary. We can help you with all of your car needs. Just give us a call or come see us in Cary if you have any questions.
Loans from dealers:
What they are and how they work
What Does Dealer Financing Mean?
One type of loan that a store gives to a customer and then sells to a bank or other third-party lender is called “dealer financing.” The bank buys these loans for less money and then gets payments from the client for the principal and interest. It’s also known as an indirect loan.
BECAUSE OF THIS:
One type of loan that a store gives to a customer and then sells to a bank or other third-party lender is called “dealer financing.”
Auto dealers that offer financing to buy cars are a well-known example of dealer finance.
The interest rate that the bank gives to the buyer is called the “buy rate.” The dealer can give a higher interest rate to the customer.
Auto sellers market these loans to people who might not be able to get loans otherwise, like if they have bad credit or something else.
How Dealer Financing Works:
Auto dealers that offer financing to buy cars are a well-known example of dealer finance. A lot of car dealers raise the interest rate that the finance business offers and keep the extra money as profit.
Why dealer financing is good for stores.
This is the interest rate that the bank gives to the dealer for purchasing. It is called the “buy rate.” It is possible for the interest rate the dealer gives the customer to be higher than the buy rate. Dealers are not required to give customers the best interest rate possible. This means they can charge customers more for loans or give them longer terms. Based on the price of the car, an auto loan tool can be used to find the best interest rate for the loan. The dealer might hold on to the payment instead of giving it to someone else.
A car dealer might be able to sell a car faster:
if they offer loans at the dealership instead of waiting for possible buyers to find their financing. Because the dealer has financial relationships with other banks, they will send the customer’s information to those banks.
It might be cheaper for the customer to get their loan, but getting one through the provider can save them time and trouble. Auto shops often offer these loans to people who might not be able to get financing otherwise, like if they have bad credit or something else.
For these kinds of loans, the interest rates might be higher, or you might have to make other concessions. When dealers give this kind of funding to people who might be seen as high-risk. They might also put devices in the car that will disable it if payments aren’t made on time or that will help them find the car and take it back if they need to.
There may be other stores, like boat dealers, that also offer this type of funding. Giving customers access to loans can help stores sell more items and increase the chances of a sale. Credit cards that stores may offer are similar to dealer loans. There is a bank that works with the store to provide the financing. A credit card or a line of credit can be used for several different purchases. But a loan is usually only used to buy one thing.
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