You can be on Entrepreneur’s cover!

Things to Know About In-House Financing in Automotive Industry With an annual production of 24 million vehicles every fiscal year the Indian Automotive industry is emerging as one of the major players

By Franchise India Staff

This story originally appeared on Franchise India

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Franchise India

Accounting for 7.1 percent of country's Gross Domestic Product (GDP), the market share of automotive industry is ready to witness a boom, inviting more franchisors to expand their market nationally and globally, both.

What is In-House Financing?

In-house financing is a type of seller financing in which a firm confirms a loan to the customers, to purchase goods and services. It eliminates the firm's reliance on the financial sector, providing the customer with funds for completing a transaction.

Being a prominent user of in-house financing, the automotive industry has its business relying on buyers taking loans to purchase a vehicle. Offering in-house financing helps a firm to complete more deals by welcoming maximum customers.

Comprising of an economically diverse population, in-house financing has a sparkling future in India.

Smooth Purchasing Process

Instead of spending extra hours or days with a third party for getting your loan approved, in-house financing ensures a quick process with additional benefits. It includes extended warranties and flexible interest rates, which grabs the attention of customers for further investment.

Creating a shortcut through this financing tool, franchisors are ensuring that customers get their purchase at the earliest.

Easy to Apply

One of the best features of in-house financing is its high flexibility regarding approval. Customers with fair or low credit score consider this procedure to be a life savior, helping them from future troubles.

It, however, does not guarantee lower interest rates, but allow customers to refinance their products on higher interest rates.

Builds Credit

Franchisors through in-house financing offer customers with an improved credit score just a month after purchasing a vehicle. Improvement in the credit score comes with long-term benefits that pay off outside the loan.

The article was originally published on Franchise India by Shahram Warsi.

Business Solutions

Scale Your Content Output with Write Bot — Now Just $40

This AI content writer can save you time and money, especially now that it's just $39.99 for a lifetime subscription.


You Need a Community With Shared Values to Find Long-Term Success — Here's How to Cultivate It.

Entrepreneurs need to remember this growth strategy: nurturing a purpose-driven community of like-minded entrepreneurs around them.

Business News

Who Owns The Rights to Your AI-Generated Content? Not, It's Not You. Uncover The Scary Truth That Puts AI Users At Risk.

The realization that copyright laws do not protect AI-generated material might come as a shock to many.


Pick Either a $40 or $70 Membership and Save on a Lifetime of Flights

There's really nothing easier than letting someone else find you bargains on all your future air fare and sending them to your phone or email.

Life Hacks

Get Ahead of the Weather with This Intuitive App — Now More Than $100 Off

This weather app goes well beyond the normal forecast and it's just $39.99 for life now.

Making a Change

Expand International Communication with Lifetime Access to Rosetta Stone Language Learning

This proven and popular platform has helped millions of users learn new languages.