How Car Dealerships Impact Credit Scores in the DFW and Tyler Areas

How Does In-House Financing Affect Your Credit Score?

Are you wondering how car dealerships impact credit scores? You’re not alone. Many people with credit issues are wary when applying for new car loans because they’re afraid too many credit inquiries will lower their credit scores. However, you needn’t worry when applying for in-house financing at a reputable dealership like Auto Liquidators Plus in the DFW and Tyler areas.

In-house financing dealerships let you finance your car loan directly through the dealership instead of going through a bank where you could be denied approval. Utilizing our in-house financing options can actually help you improve your credit score. We make it convenient and easy to make payments on time so that you can drive home with a new ride today regardless of your credit history. Come see us at one of our five convenient dealership locations in the Dallas-Fort Worth and Tyler areas!

Credit Bureaus Count Multiple Inquiries as a Single Inquiry

Most people shopping for a new car cannot afford to pay for it upfront with cash. In-house financing at dealerships helps people with all credit backgrounds secure the loans necessary to spread out their car payments over time.

While multiple credit checks in a short period of time are usually a red flag that can negatively impact your credit score, an exception is made with most car loan inquiries. The three major credit bureaus (Equifax, TransUnion, and Experian) generally count multiple inquiries for car loans within a 14-day time period as a single inquiry.

Your Credit Score Can Improve with Reporting to Credit Bureaus

Once you start making car payments through your in-house financing dealership, it’s important to make these payments on time every month. That’s because many of them report your payments to the major credit bureaus to help you build or rebuild your credit. If the dealership reports your payments directly to the credit bureaus, your car loan should show up on your credit report as a line of credit. So, not only will you find yourself with safe, reliable transportation almost immediately, but you’ll also be given the opportunity to reshape your future in the process.

Working on your credit score is an evolving process throughout your lifetime. Getting a car loan approved through an in-house financing dealership is a smart option for many. Having your car loan payments automatically come out of your checking account or debit card every month sets you up for success from the get-go. The more on-time consecutive payments you have to your credit, the more desirable you look to future lenders.

Will Financing a Car Hurt My Credit Score in DFW and Tyler?

Generally speaking, no. Financing a car usually helps people improve their credit scores through regular, timely payments. If you’re about to begin shopping for a new car, you can request a copy of your credit report from the credit bureaus. It’s generally a good idea to go through your report to ensure all of the information is as up-to-date and accurate as possible.

Pay attention to your credit score risk factors as identified in your credit report, so you can make the necessary changes to make yourself more creditworthy in the future. However, you shouldn’t be concerned with financing a vehicle through an in-house financing dealership to help you build your credit in the meantime.

At Auto Liquidators Plus, We Want to Finance Your Future

In-house financing dealerships like Auto Liquidators Plus have more flexibility than traditional lenders to work with people regardless of their credit situation. Since 1991, our family-owned car dealership has specialized in finding creative credit solutions for our friends and neighbors in the DFW area. We don’t focus on your past – we want to finance your future with our flexible in-house financing options!

Our exceptional in-house financing solutions and customer service ensure you will be satisfied with your new pre-owned car, truck, van, or SUV purchased at one of our five convenient locations. By discussing your available in-house financing options upfront instead of at the end of the sale, you’ll always know where you stand with us. Our goal is to get you behind the wheel of a reliable vehicle you can afford based on your monthly income and other financial obligations. We’ll help you select the best car from our used car inventory, apply for a car loan, get approved, and drive off the lot, all in a matter of hours.

Are You Ready to Get Started at One of Our DFW and Tyler Dealerships?

If you’re interested in exploring our in-house financing options, Auto Liquidators Plus would love to work with you. Thanks to our flexible payment options, it’s convenient and easy to make payments on time. You can make payments online via our secure payment portal, over the phone, by submitting a check or money order via mail, or in person at one of our dealerships in Arlington, Dallas, Garland, Lancaster, or Tyler, Texas. We also give our customers the option to arrange automatic debit card payments or automatic withdrawals from their checking accounts (ACH). Please contact us with any other in-house car financing questions or concerns. We’d love to help put your mind at ease and get you in a new ride today!