You've found the car on a dealer's lot and the finance office offers to handle the loan. That can be convenient. It still pays to know what you're signing, and to walk in with an approval of your own.
How dealer financing works
The dealer takes your application and sends it to the lenders they work with. That might be the brand's captive finance arm, a bank, or a specialist lender. You sign at the dealer, and the lender pays the dealer.
Exotic dealers often have fewer lending options than a mainstream store, because most banks don't want to lend on a $400,000 car with a 60-month term and an uncertain resale curve.
Where Rizz fits
We're a specialist exotic lender in Riverton, Utah, and we work directly with dealers. We're integrated with Dealertrack and RouteOne, so a dealer can submit your deal to us the same way they submit to anyone else. Franchise, independent, pre-owned and consignment dealers can all work with us. Dealers can find out more on our Dealers page.
You can also apply on your own first and bring the approval to the dealer. That gives you a firm number to compare against whatever the finance office offers.
Our terms
Rizz Lending loans spread monthly payments over 120, 180 or 240 months. They are not 20-year loans: each loan matures at 84 months, and at that point the remaining balance (a balloon payment) is due. The borrower can pay it off, apply to refinance it or sell the car. There is no prepayment penalty.
- Credit: typically a 700+ FICO.
- Down payment: at least 20%, and up to 40% depending on the car, the borrower and the loan amount.
- Luxury SUVs such as the Cullinan, Urus, G-Class, Bentayga and Range Rover typically need at least 30% down because they depreciate faster.
- Amount financed: $80,000 minimum, up to $1M+.
- Use: personal use only. No rentals, Turo, ride-share or livery.
What to compare at the dealer
- Maturity and balloon. A low payment can hide a large balance due later. Ask exactly when the loan matures and what's owed at that point.
- Prepayment penalty. You want none.
- Add-ons. Know what's being added to the amount financed, and say no to anything you don't want.
- Total cost. Compare more than the monthly figure.
Smart moves
Negotiate the car's price before you talk payments. Get a pre-purchase inspection even at a reputable dealer. And keep your own approval in your back pocket.
Get started
Check your options with a soft credit pull on our application. It won't affect your score, and approvals typically come back within 24 hours. Prefer to talk? Call 801-880-9955.