When it comes to Buy Here Pay Here car lots, your credit is never an issue. Many consumers come to these establishments due to the black marks left on their credit history due to a recent bankruptcy, limited credit history or auto repossession. Basically, these reasons include anything that could effectively shut you out of mainstream auto approval options.
While some of these dealers are less than reputable, the fact is that there are car buyers out there who are out of alternatives. Auto Credit Express can help those who are in need of this type of financing find a reputable Buy Here Pay Here dealership to work with.
Buy Here Pay Here Dealerships and Your Credit
When your credit report isn't good enough to allow for a mainstream loan, a BHPH dealership
can help. These dealers allow customers to arrange financing directly through the dealer rather than through a third party lender. As such, they have much more leeway when it comes to offering a loan to someone who has a spotty credit history.
Buy Here Pay Here Benefits
While there are disadvantages to buying a car from one of these dealerships, the difference between traditional lending and BHPH isn't as vast as you might think. Some of the benefits to buying from one of these lots include:
- Weekly or biweekly payments - Smaller, regular payments may be easier to keep up with than a larger, monthly arrangement.
- You may have an opportunity to improve your credit some BHPH dealers report all of your payments, even though they themselves don't have to work with credit agencies to get you approved. By getting a loan and making payments on time, you can re-establish a solid credit history. Be sure to verify that the BHPH dealer you want to work with provides this option.
- Get reliable transportation - Reputable BHPH lots have quality used vehicles that will suit your needs.
If you need a car as soon as possible, you need to go in prepared. By asking the right questions beforehand, you can ensure that making a purchase is quick and easy. Some of the items you should bring along include a valid driver's license, proof of insurance, your financial information, and proof of employment. Before you sign on the dotted line, make sure you're getting a decent deal. You may not have as much room to negotiate at a BHPH lot or a tote the note type dealer
as you would at a traditional dealership, but these lots still want to move inventory. Let Auto Credit Express do your research for you to make sure you get hassle free auto financing, and all you need to worry about is picking out the car you want.