Shabana Motors has helped thousands of Houston area customers get approved for in-house financing.
Start with our simple in-house financing application. Then, consider at least five questions you should ask the BHPH dealer before signing the purchase agreement in Part 2 of our in-house financing information series.
Plan ahead, but realize that not all BHPH dealers are created equally.
Ask the dealer about whether it offers in-house financing before you go to the dealer’s lot.
Although it makes good financial sense to arrange in-house financing before you select a used vehicle, it’s perfectly fine to check out the dealer’s inventory before you decide to fill out the in-house financing application.
Take the time to ask questions of the BHPH dealer or its representative. Write down any questions you’d like answered before you go shopping. If you forget to ask an important question during the visit, call the dealer or its representative as soon as possible to get the information you need to make an informed decision.
Having the right documents on hand when you visit a BHPH used car dealer will speed up the purchase process.
Although your dealer may request additional information in your specific financial situation, many BHPH dealers recommend that you gather:
Contact the dealer prior to your visit to ask about what they require. The dealer’s representative will help you fully prepare for the visit.
Instead of a traditional lender’s monthly payment, the BHPH customer makes a weekly or a bi-weekly payment at the dealer.
Some dealers demand the customer to make payments in cash at their location, but others have entered the modern technology age:
Ask the dealer about the payment methods it accepts and choose the option that works best for you. If you know that bringing cash payments in person to the dealer will cramp your style, don’t purchase a used car from that BHPH dealer.
Few people ever plan to make a late payment, but sometimes life happens. Ask how the dealer handles late payments. For instance:
It is always wise to understand the dealer’s late payment policy beforehand. You should know what to expect if an urgent emergency in the future temporarily delays a used car loan payment.
If you own a vehicle and want to trade it in, ask the dealer about its vehicle purchase or trade-in policy.
Your trade-in value can decrease the down payment amount or, even better, decrease the in-house financing used car loan amount. Decreasing the amount of your loan will save you money over the life of the loan as well.
Estimate the monthly cost of your used car in-house financing by inputting the following details into an auto loan calculator:
Your BHPH dealer offers in-house financing because the business is committed to offering you a reliable vehicle.
The dealer knows that, to ensure your commitment to making payments as agreed, it must offer you a reliable, dependable car, truck, or SUV.
It’s just good business sense for the dealer to provide you with a quality used car.
With this in mind:
After your dealer answers your questions about in-house financing, consider submitting an application.
It may be the best path to owning a reliable vehicle. For most people, a reliable car is an absolute necessity.
If your credit scores need improvement and you don’t qualify for a traditional used car loan, Shabana Motors can help you to get approved for a used car loan and to rebuild your financial future.
We’ve got you covered. Check out our inventory here.