A Guide to Financing a Buy Here Pay Here Car
How Bad Credit Auto Dealers Can Make Buying a Vehicle Easier and More Affordable
What are buy here pay here car dealerships? Well, the name sums it up pretty well. These are used car lots with in-house financing, so you can buy the car and pay for it all in one place. They’re different from traditional dealerships where they would typically search for lenders for you based on your credit score. Buy here pay here cars don’t require a credit check and have affordable options for everyone.
If you’ve struggled with financing a used car in the past, this might be the perfect method for you. Not only is it a quick, streamlined process, but it also gives those with challenged credit the opportunity to finance a used car at a reasonable price. With a quick application process, flexible agreements, and reasonable down payments, a buy here pay here car can be yours in no time.
Applying For a Buy Here Pay Here Car Is Easy
One of the biggest draws to buy here pay here car dealerships is how easy the car-buying process is. There are often several steps and a ton of paperwork involved with traditional car loan financing through banks. But to buy a buy here pay here car, it’s simple.
All you need is:
? Proof of a steady income
? Proof of identity
? Proof of residency
Many dealerships will have an easy-to-use financing application online. After you fill it out and provide proof of income, identity, and residency, you can secure financing and drive off the lot in your new ride.
Bad credit auto dealers will never sell you a vehicle you can’t afford. Instead, they tell you exactly how much you qualify to spend based on your budget and only show you vehicles that fit into your finances. And because the same team that shows you the car also helps you with financing, you can expect a steady, high level of customer service as you shop for a new-to-you buy here pay here car.
No Credit Needed for Buy Here Pay Here Cars
Many people find themselves in financial hardships or difficult circumstances that leave them with a low credit score. This doesn’t mean they aren’t able to afford a used car or aren’t trustworthy enough to make payments; it just means they may have struggled with their credit in the past. That’s why in-house financing exists! Buy here pay here cars are affordable, reliable vehicles for those who do not want a credit check, but can afford to reliably finance a car.
Unlike traditional car lots, you won’t need to go through a credit check to purchase a vehicle from a buy here pay here dealership. Not only can a credit check lower your FICO score, but if your score is already below satisfactory, you won’t be able to receive a loan. When you finance through a reliable bad credit auto dealer, you get to skip tons of difficult paperwork and stressful conversations about credit. Instead, you could be in and out with a new used car in an hour or less!
Buy Here Pay Here Cars Can Improve Your Credit
When you finance a used car, with consistent, on-time payments, you will gradually see an increase in your credit score. The dealership you finance through will report your timely payments to the major credit bureaus. Whereas traditional dealerships will reject someone with an unsatisfactory FICO score, a buy here pay here dealer allows you to finance a vehicle and helps improve your credit score over time. This not only sets you up for financial success in other aspects of your life, but it also will allow you to successfully purchase more in the future, like a house.
Find Buy Here Pay Here Cars at a Dealership Near You
The best way to ensure you get a vehicle you love is finding a trustworthy buy here pay here dealership in your area. Make sure to check for good reviews and well-kept vehicles, as these are signs of a high-quality dealership. Once you’ve found a buy here pay here car you love, meet with the financing team to finalize your agreement. Once this is complete, you and your new ride can hit the road!
