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Car Buying in Texas

Texas Auto Loan FAQ

Texas is one of the largest states in the union in terms of landmass, people, and cars. Texas has over 8 million registered vehicles and over 80,000 miles of highways (only California has more registered vehicles). In terms of auto loans, we can apply a national average of 43% to estimate that there are approximately 3.4 million financed cars in Texas.

This is where myAutoloan can help. We save consumers time and money by helping them arrange for financing in advance of their dealer visit. Most people fall in love with a car and then worry financing. This can lead to "in the moment” decisions on rates, terms, and amounts. We help consumers make better choices based on what they can actually afford given their money situation and their goals.

This section of our website is dedicated to providing information and value to specifically to Texas consumers. The following content is based on common consumer questions. It’s unique to Texas and periodically updated with the latest information.

Question: How many miles of highway are there in Texas?

Answer: There are over 80,000 centerline miles of highway in Texas. Centerline miles are measured based on the length of the highway and are not the same as lane miles. For example, a ten-mile stretch of a four-lane highway is ten centerline miles, but forty lane miles. Centerline miles is a common measure for everyday people.

Question: How many cars are there in Texas?

Answer: There over eight million registered vehicles in Texas. The majority of these vehicles are concentrated around the five large metropolitan hubs: Dallas, Fort Worth, Houston, San Antonio, and Austin.

Question: How many car dealers are there in Texas?

Answer: There are over 3400 new and used auto dealers in Texas. Most reputable franchised dealers are members of the Texas Auto Dealers Association which represents over 1300 franchised dealerships employing over 100,000 people across the state of Texas.

Question: Who are the big dealership groups in Texas?

Answer: If you are in the market for a new or used vehicle in Texas, there are a number of large dealer groups that offer a wide selection of vehicles. The following Texas dealership groups are certified as Horizon Digital Finance Top Dealers. HDF owns and operates the myAutoloan marketplace. Each of these dealer groups have good reputations and provide a wide range of vehicles and brands across multiple locations.

Question: Are auto loans, lending, and financing regulated in Texas?

Answer: Yes, the Texas Office Of Consumer Credit (OCCC) regulates car financing in Texas. All lenders who make consumer loans with an interest rate above 10% are required to by licensed by the Texas OCCC. In Texas, all lending is also covered by Chapter 342, Texas Finance Code: Consumer Loans. All lenders that participate as part of the myAutoloan marketplace are licensed with the Texas OCCC.

Question: Why are car dealerships closed on Sunday in Texas?

Answer: In 1961 the Texas State Legislature enacted “The Texas Blue Law” which prohibited an odd list of 42 products that could not be sold on Sundays. In addition to liquor, cars were on this list. The law was repealed in 1985, so technically a car dealership in Texas could be open on Sunday. However, there is a law that state that car dealerships can only be open one day of the weekend. And since Saturday is traditionally the biggest car shopping day of the week, most dealers are open Saturday and closed Sunday. Some dealerships try to set themselves apart by going counter to the trend.


State Articles

Major Markets For Car Buying In Texas