Is a special license needed by a used car dealership to finance a car in house?

Public Comments

1. Not in TX...But it really depends on what state your talking about. The only license they would need is their dealers license (for in house).
2. Depends on state law & the dealer's practice. Most "in house" financing is not by the seller, but by a separate loan company (even tho' it and the dealer may have the same owners). In such cases every state I know of regulates such loans & requires some type of loan or finance company license thru a state regulatory agency.
3. mainly in house lending is still thru other banks, they just need a financing connection to a number of different banks or credit unions but no license is required