Is Shopping At a Buy Here Pay Here Dealership Right For Me?
There are only a few ways to find a reliable used car, and two of them require shopping at some type of car dealership. But if you’ve struggled to purchase a car in the past, or if you aren’t sure where you should spend your hard-earned money, looking for a new-to-you ride begins to feel frustrating.
Check out these two car-shopping options and weigh the best one for you based on your lifestyle, financial background, and personal preferences for convenience.
What Is a Traditional Car Dealership?
A traditional car dealership offers cars for sale and car care services, usually affiliated with a major car maker, like Ford, Chevrolet, Hyundai, or Kia. They can sell new and used cars and help customers find the best possible financing through their preferred network of lenders. Traditional car dealerships also accept trade-ins and sell aftermarket warranties.
What Is a Buy Here Pay Here Dealership?
A buy here pay here dealership is a type of used car dealership that offers in-house financing. They both sell used cars and approve shoppers for car loans, take payments on those loans, and manage the entire process themselves.
Most buy here pay here dealerships do not offer additional services, like mechanics or body shops, but they can accept trade-ins. Quick Auto is an example of a buy here pay here car dealership in Indiana.
Who Shops At a Traditional Dealership?
People who want to buy a brand-new or used vehicle shop at traditional car dealerships. These are people who:
Can pay for a vehicle in full with cash.
Have secured their own financing through a bank or credit union.
Can qualify for a car loan through one of the dealership’s financing partners.
Have a significant down payment.
Most car loans require purchasers to have a credit score of at least 675, although some vendors will offer financing to those whose scores are lower. However, the lower the credit score, the higher the interest rates are likely to be from a bank or credit union, and the fewer loan options you can choose from.
Who Shops At a Buy Here Pay Here Dealership?
Anyone can shop at a buy here pay here car dealership. However, they’re designed to help people with challenged credit histories qualify for a car loan.
Usually, people who shop at this type of dealership:
Have been turned down for used car loans from banks or credit unions in the past.
Do not qualify for traditional loans for a variety of reasons.
Cannot afford a large down payment that is required for a traditional loan.
Quick Auto has helped thousands of people drive away in a great quality used vehicle. The kinds of people who shop at a dealership like ours are the very same kinds of people you interact with every day! Read our customer reviews from our seven locations to see how we help people.
How Do I Apply For a Car Loan At a Traditional Dealership vs. a Buy Here Pay Here Car Dealership?
Initially, loan applications for a car from a traditional dealership will look similar to one you’d fill out at a buy here pay here dealership. These forms ask for your personal information, including your name, date of birth, contact information, and address. Both also will ask you for proof of income.
However, they begin to differ at this point. A traditional loan application will be longer than a buy here pay here dealer’s and will get into the nitty-gritty of your life. This is because the requirements to qualify for one of these loans are much more stringent. This means, for many people, it’s difficult to get a loan through this method.
At most buy here pay here dealerships, to qualify for a loan, you’ll need:
? A government-issued photo ID.
? A utility bill in your name that also lists your address.
? Proof of your income, such as pay stubs from your employer.
A short application form takes only a few minutes to fill out, and a car sales team member can help you with it if you visit in person.
Where Can I Find a Buy Here Pay Here Car Dealership Near Me?
If you live in Indiana or near the borders of Illinois or Michigan, one of Quick Auto’s seven locations can help you get into a nicer, newer car in as little as one hour.
Find our buy here pay here dealerships in:
? Hammond
? Elkhart
? Portage
? South Bend
? La Porte
? Highland
? Mishawaka
Get started by checking out our inventory online, then fill out our application for financing. When you’re approved, we’ll show you vehicles in your price range, let you take a test drive, and help you drive away in a reliable used vehicle. At Quick Auto, it’s really that easy.
