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방문시 요청사항	Education News Simulator Your Money Advisors Academy Car Ownership Auto Loans Indirect Loan Definition By Julia Kagan Updated November 30, 2020 Reviewed by Khadija Khartit What Is An Indirect Loan? An indirect loan could refer to an installment loan that is a loan where the lender - either the original issuer of the loan or currently the owner of the debt has no close relationship with the borrower. Indirect loans can be obtained from a third party with the assistance by an intermediary. In the secondary market, loans traded in the market can also be thought of as indirect loans. In allowing borrowers to access financing through third-party relationships, indirect loans can aid in improving the availability of funds and manage risk. Most applicants who do not qualify for a direct loan can opt for the indirect loan instead. Indirect loans are generally more expensive - carry higher rates of interest, for instance - as direct loans are. Important Takeaways With an indirect loan the lender doesn't have an immediate relationship with the borrower, who is borrowing from a third party, that is managed by an intermediary. Indirect loans are often utilized in the automotive industry and dealers aiding buyers get financing through their networks of financial institutions as well as other lenders. Indirect loans tend to be more costly than direct loans, as they are usually utilized by those who may not otherwise qualify for the loan. The understanding of an indirect loan (Dealer Financing) Numerous dealerships, merchants and retailers who deal with high-priced products, like automobiles or recreational vehicles collaborate with a range of third-party lenders to assist their customers in obtaining installment financing for purchases. Dealerships typically have lending networks which include various financial institutions willing to support the sales of the dealership. In many cases, these lenders will be able approve an array of lenders due to their network relationship and the dealers. In the indirect loan procedure, a applicant submits a credit request by way of the retailer. The application is then forwarded to the financing network of the dealership and the borrower is able to get multiple offers. The borrower is then able to select the best loan suitable for their circumstances. The dealer also gains because by helping the customer receive financing, it helps make the sale. Because the interest rate on the dealer is likely to be higher than a credit union or bank so it is recommended for buyers to check other financing options before agreeing to finance their vehicle through a dealer. This kind of indirect loan is often known in the context of "dealer financing," it's actually the banks of the dealer's network who approve this loan (based upon the credit profile of the borrower), setting its terms and rates and collecting the repayments. Although the indirect loan is made available through an intermediary or retailer however, the customer is borrowing from a different financial institution. How does an Indirect Loan Work (Secondary Market) Loans not originated directly by the lender that holds them may be considered indirect loans. When a lender sells the loan they cease to be responsible for it or get any interest from the loan. Instead, all the assets are transferred to a new owner who takes on the responsibility of managing the loan and collects the repayments. Check any indirect loan contract with care: If the dealer cannot transfer the loan the buyer made in the name of a loan provider, it could be able to end the contract after certain timeframes and demand that the buyer return the vehicle. The buyer is then entitled to get back the amount of the down payment as well as the trade-in (or the value that the vehicle was traded in for) when a trade-in was involved. In this scenario the dealer might attempt to force a buyer to sign a contract with lower terms, but the buyer isn't required to sign the contract. Examples of Indirect Loans Auto dealerships are one of the most commonly-used businesses associated with indirect loans In fact some authorities call indirect loans a type of car loan. Many consumers use dealer-financed loans for the convenience of applying in-person and easily compare deals. However, getting an auto loan directly from an institution like a credit union or bank on his own gives buyers more leverage to bargain, and also the flexibility to shop with dealers. And the interest rates might be better. But if a buyer has a poor credit score or has a poor credit score then an indirect loan may be their most suitable option. Loans are actively traded on secondary markets as well - specifically the group of loans that have been merged rather than individual loans. Often a bank or credit union will sell its customer loans or mortgages; doing so allows lenders to acquire new capital, cut administration costs, and control their level of risk. In the lending market for homes such as there are two organizations: Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corp (Freddie Mac) help with the second-hand trading of mortgages through the loan programs. These two companies sponsored by the government purchase home-backed loans at the request of lenders. They package them and then re-sell them, in order to facilitate liquidity and improve the liquidity across the market for loans. Sponsored Reliable, Simple, Innovative CFD Trading Platform Are you looking for an efficient CFD trading service? As Germany's No. CFD Provider (Investment Trends for 2022), Plus500 is a licensed CFD provider whose platform is secured through SSL. The platform allows you to exchange CFDs on the world's most popular markets and take advantage of numerous trading opportunities. Select from more than 2000 financial instruments and receive live, instant quotes. Find out how to trade with a reliable CFD service and test an online demo for free today. 86 percent of retail CFD accounts fail to earn money. Compare Accounts Provider Name Description Related Terms Government-Sponsored Enterprise (GSE) The definition and Examples A government-sponsored enterprise (GSE) is a quasi-governmental entity that enhances supply of credits into certain sectors of the economy by providing public financial services. More What Is Student Loan Forgiveness? What is it, and how does it work. Discharge Student loan forgiveness allows you to be released from the obligation to pay back the amount borrowed, in whole or in part. Here is how to receive student loans forgiven. more Dealer Financing Dealer financing refers to loans originated by a retailer that are offered to banks or other third-party institutions. More Collateral Definition, Types, & Examples Collateral is an asset that a lender accepts as security to extend the loan. If the borrower is in default and the lender is unable to pay, it can seize the collateral. More The Bond Market (aka Debt Market) The Bond Market: Everything You Should Learn Bond market refers to the general term used to describe all transactions and issues of debt securities. Find out more about corporate, government, and municipal bonds. More Basics of In-House Financing: Types, Requirements, Example In-house financing is one type of seller financing in which an organization extends its customers an loan, allowing them to purchase its goods or services. More Partner Links Related Articles Private and public. Federal Student Loans What's the Difference? 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