How Can One Help Me Buy a Used Car?
When you have bad credit or no credit, finding financing to purchase a car can be very difficult. If youre in this position, then youve probably experienced the frustration of getting turned down for a car loan again and again by traditional lenders like banks and credit unions. And the worst part is that each time these financial institutions checks your credit score, it actually goes down. Thats a step in the wrong direction! Luckily, a very special type of car dealership can help you drive off in a nicer, newer car, no matter what your credit history is like.
Getting an Auto Loan from a Buy Here Pay Here Dealership
Buy here pay here car dealerships are different from traditional car dealerships. At traditional dealerships, you look at any vehicle you wish to purchase, and then use the financing you secured before shopping for cars to buy what you want. Sometimes, you can be qualified for a car loan at the dealership, which works with third-party lenders to secure financing for you. At that point, you might even find out that you dont qualify for a car loan to purchase your dream car, and youve wasted a lot of time in the process.
At a buy here pay here dealership you work with a financing expert before you take a look at the used cars on the lot. That financing expert will consider your monthly budget to determine the size of car payment you could afford. Then you will only be shown cars in your price range.
The buy here pay here dealership will provide all of your financing and youll make your car payments direct to that dealership until youve paid off your loan. Some buy here pay here car dealerships even break down your payments into weekly allotments, which helps you manage your money more easily between paychecks.
Qualifying for a Used Car Loan
Even if a bank or credit union has declined you for auto loans in the past, you can still get financing to purchase a car from a pay here buy here car lot. Thats because these kinds of car dealerships consider other factors than your credit history when determining your auto loan. Many buy here pay here dealers never even check your credit. Instead, they determine the amount of loan you qualify for based on your income. You work hard for your money and you should be able to choose where you spend it — and thats exactly what works so well at these car lots! Individuals with an employment history, references, and a reasonable monthly income will find working with a buy here pay here dealer to purchase a new car to be quite easy!
Buy here pay here dealerships know how important it is to have reliable transportation to get to and from work and school, and they believe everyone should be able to get into a car that will meet their needs and fit into their lifestyle, without harsh judgment toward you because of your financial situation. Most people who purchase a car from a buy here pay here lot are unable to pay a car dealer upfront for the cars asking price, plus taxes and fees. Buy here pay here car dealers make it possible and affordable!
Buy Here Pay Here Cars Save You Time
Applying for financing from traditional lenders and searching for dealers who may offer you financing despite your low credit score can be a very time-consuming process. You already have so little time in your day that its hard to sacrifice any more of it to being turned down for car loans.
A truly great aspect of buy here pay here dealers, in addition to their generous financing policies, is that they ultimately save you time. You only need to visit one business to take care of every step in the car-buying process. They collect your information, process your financing, and have a huge selection of cars for you to choose from. You can be in and out in less than one business day, with the keys to your new car in your hand.
So if you have a checkered credit past that you want to overcome, and you need a used car to get around, be sure to look into buy here pay here car dealerships near you.