In house financing for used vehicles?

[snoop101]

Not sure if this has been brought up.

Which dealerships have in house financing for used vehicles?

I mean true In house like VW, BMW, Audi. Low rates and certified.

List :

BMW
VW
Porsche
Merc
Audi
Honda
Nissan

[Masked Bandit]

It's pretty damn rare that a dealership will actually finance something "in house". That's a lot of capital to tie up. I've seen the odd "in house" lease at some less than reputable dealerships.

[snoop101]

Originally posted by Masked Bandit
It's pretty damn rare that a dealership will actually finance something "in house". That's a lot of capital to tie up. I've seen the odd "in house" lease at some less than reputable dealerships.

So why do most German dealerships do it?

Mercedes also does it.

[Jerms]

can someone explain what is "true in house financing"?

[snoop101]

Originally posted by Jerms
can someone explain what is "true in house financing"?

Like VW who has low rates. The financing actually goes through VW as a company. As compared to lets say Volvo who uses banks to finance their used cars (well they used, not sure now).

A lot of people get them confused.

[RUQUIKR]

The term "in House" usually refers to stores that offer high finance loans to customer because they do not qualify for a standard rate loan.

You are looking for Certified used car rates which are available thru BMW, Audi, MC which are still financed thru a factory owned finance company but offer at a lower rate than a standard bank because the vehicle has been inspected and certified.

I believe all Merc and BMW dealer offer these certified rates.

Just keep in mind that the dealer pays a large premium to qualifiy the car as certified so even though you get a lower rate the cost of the vehicle has been inflated do to the cost of the certification. If I remember right BMW has to pay $3500 to certifiy the car themselves. Just food for thought.

[snoop101]

Originally posted by RUQUIKR
The term "in House" usually refers to stores that offer high finance loans to customer because they do not qualify for a standard rate loan.

You are looking for Certified used car rates which are available thru BMW, Audi, MC which are still financed thru a factory owned finance company but offer at a lower rate than a standard bank because the vehicle has been inspected and certified.

I believe all Merc and BMW dealer offer these certified rates.

Just keep in mind that the dealer pays a large premium to qualifiy the car as certified so even though you get a lower rate the cost of the vehicle has been inflated do to the cost of the certification. If I remember right BMW has to pay $3500 to certifiy the car themselves. Just food for thought.

Exactly what I am looking for. Sorry my terminology was a bit off.

We need to create a list. So fa I know of the following.

BMW
VM
Merc
Audi

Anymore?

[Redlyne_mr2]

Are you looking for just German makes? Porsche does it as well. Pretty much every car manufacturer out there has factory backed financing on its pre-owned. And yes cost of certifying a BMW is expensive. $3500 for extended warranty/administration charges + the money that goes into the car to get the necessities repaired.

[snoop101]

Originally posted by Redlyne_mr2
Pretty much every car manufacturer out there has factory backed financing on its pre-owned.

Are you sure? I was under the impression that most Asian car manufactures dont do financing on used. Like I mentioned before I was looking at a Volvo and they use banks for their pre-owned.

I actually find that its a lot cheaper in the long run as most offer really low rates. My BMW has 1.9% and it was a certified pre-owned.

[4doorj]

Honda does.

[zipdoa]

Nissan does.

[Redlyne_mr2]

Volvo is an extremely small company. I know the small or start up companies don't have their own financing but as mentioned by other posters Toyota, Honda, Nissan, Acura, Lexus, Infiniti all have their own pre-owned financing. Sometimes their rates aren't the best so the dealer will put you through a bank.

[snoop101]

Originally posted by Redlyne_mr2
Volvo is an extremely small company. I know the small or start up companies don't have their own financing but as mentioned by other posters Toyota, Honda, Nissan, Acura, Lexus, Infiniti all have their own pre-owned financing. Sometimes their rates aren't the best so the dealer will put you through a bank.

Doesn't Ford still own Volvo?

Edit: nvm

In 2008, Ford decided to sell its interest in Volvo Cars; in 2010, Ford sold the brand to the parent of Chinese motor manufacturer Geely Automobile for $1.8 billion.

[Masked Bandit]

Now this makes more sense. I thought you were talking about financing sourced by the actual dealership (which is very rare but does happen). Now that I understand that you are just after manufacturer based financing I think almost all of them do it.

[Adrenaline101]

Toyota does. toyota financial canada

[Canucks3322]

I have bought used from Calgary Honda and Stadium Nissan....both times they had a guy ("the finance manager") who is kind of like a broker and calls around for a loan on your behalf...not sure how his kick backs work though as he claims to get you the best rate which makes no sense cuz wouldn't he make less $$?

[snoop101]

Originally posted by Canucks3322
I have bought used from Calgary Honda and Stadium Nissan....both times they had a guy ("the finance manager") who is kind of like a broker and calls around for a loan on your behalf...not sure how his kick backs work though as he claims to get you the best rate which makes no sense cuz wouldn't he make less $$?

See im talking about actual financing fromt he manufacturer. So in that case they would be just phoning around to different places.

[Masked Bandit]

OP, what's your aversion to having the financing soursed (by the dealer) through a bank? Is it that you are concerned about multiple pulls of your credit report? If that's the case I don't think it's a worry. I think the dealer pulls it once and just tells all the various banks what information is on it.

[snoop101]

Originally posted by Masked Bandit
OP, what's your aversion to having the financing soursed (by the dealer) through a bank? Is it that you are concerned about multiple pulls of your credit report? If that's the case I don't think it's a worry. I think the dealer pulls it once and just tells all the various banks what information is on it.

In my experience (buying from BMW) Financing is very easy. You find a car you want and couple hours later everything is approved. Manufacturer rates are usually very low compared to bank rates. Not sure if you can do it with a bank, but most financing through the Manufacturer can ballooned .

[bastardchild]

Stampede leasing.