What Does Guaranteed Car Financing Mean?

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If your credit needs some work, but you’re still in a reliable and comfortable financial situation, then a new Porsche or used vehicle near Nashua can seem frustrating. If so, then guaranteed car financing near Stratham could be the perfect option to consider. This is also known as “buy here, pay here” financing. Before you start searching how to get guaranteed car finance plans, our team at Porsche Stratham is always ready to help you learn more. 

Take some time to learn more with the finance experts at the Porsche Stratham finance department to see if this is the plan that’s right for you.

How Guaranteed Car Finance Plans Work 

Guaranteed car finance dealers, or in-house financing dealerships, will offer this type of loan because it allows many kinds of drivers to get behind the wheel of their dream car – no matter their credit history. Unlike traditional financing, a guaranteed car finance plan doesn’t require a credit check, which means your income is what’s used to determine what you qualify for. Most of the time, car dealerships will have minimum income requirements that you must meet to move forward. 

If your credit isn’t excellent from something that happened in your past, that’s okay. Guaranteed car financing can be a convenient and hassle-free option for you. You can get pre-approved for a vehicle and drive off our Stratham lot on the same day! Remember, you’ll need to meet the requirements, show the appropriate paperwork, and make a down payment on the vehicle you’re buying. Below is what you’ll need to get started with obtaining guaranteed financing near Portsmouth at Porsche Stratham:

  • Typically, dealers will check a minimum income of $1,500 to $2,000 a month pre taxes (this depends on the dealership, though, and what car you’re trying to take home) 
  • Recent pay stub
  • Down payment (usually around 10% of the car’s selling price) 
  • Proof of residency (a utility bill should suffice)
  • They may ask for a list of personal references 

Does In-House Financing Help Build Credit?

Yes, because most in-house financing dealerships still report payments to all major credit bureaus – even though they don’t always require a credit check. So, if you keep paying your auto loan on time, you’ll also build up your credit score, which ultimately improves your credit score. 

With guaranteed car financing, you’ll be able to get the vehicle that’s going to enhance your drives around the Manchester area while having the chance to improve your credit report with your on-time monthly payments.

Explore Your Financing Options at Porsche Stratham!

Are you ready to upgrade your ride and improve your credit report at the same time? Have you found the vehicle that checks off all of your boxes? Don’t hesitate to contact us online today with any questions! We’ll help you take home the new Porsche you’ve been dreaming of with guaranteed auto financing.

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