What Is a Buy Here Pay Here Car Dealership?
Unlike traditional car dealerships that attempt to finance through a third-party lender, Buy Here Pay Here dealerships offer in-house financing, making it easier for consumers to get a loan regardless of their credit histories or past bankruptcies.
Do You Need a Car Quickly?
Walk into any Buy Here Pay Here (BHPH) dealership and leave today with a new car or truck. There’s no waiting for credit approval or browsing multiple dealerships to test different kinds of cars. A BHPH dealership will have a wide variety of vehicles on the lot to meet any need. Their goal is to put you in a car and their knowledgeable staff will work tirelessly with you to find a vehicle that will meet your needs.
Traditional dealerships have you take test drives and try to sell you a car and then look for financing. You could spend days or weeks picking out the right vehicle only to find out later that you do not qualify for financing. Buy Here Pay Here dealerships cut out this problem by starting at the end. They will sit down with you and find out how much financing you qualify for, then help you find the perfect vehicle within your price point. There’s no guessing and no starting over.
Are You Worried That Your Credit May Not Be Good Enough?
Do you have a steady income and a stable address? That is all you need to get buy here pay here financing. Buy Here Pay Here dealerships do not use third-party lenders as traditional car dealerships do. Third-party lenders base their credit decisions on a combination of credit reports and credit scores.
According to Experian, one of the three major credit reporting agencies, almost one-third of people in the United States has a credit score of less than 601. Such a low number means that 30% of Americans are unable to get traditional credit through a traditional dealership or even their bank, leaving them with few options when they find themselves in need of a new car. BHPH dealerships are here to help though. Because they finance all vehicles in-house, they are able to extend credit to those who wouldn’t be able to get it otherwise even if they have poor credit.
Have good to great credit? A Buy Here Pay Here dealership is still a good choice for you. They offer many benefits that traditional car dealerships do not like flexible payment options, higher trade-in values and local service you can trust.
Concerned That You Don’t Have Enough Money for a Down Payment?
Turn your old car or truck into money by using it as a trade in. Buy Here Pay Here dealerships are usually more willing than traditional dealerships to take a buyer’s used car to use as a down payment. Even if that vehicle is older or not in the best shape, there is a good chance it can be used in place of cash for a down payment. Best of all, you just cleared a spot in the driveway for your new vehicle!
Are You on a Strict Budget?
Buy Here Pay Here dealerships understand that their customers are really hard-working people who need a safe vehicle to get to work and take their children to school while keeping them safe. BHPH dealerships want to work with you to put you in a car and make it as easy of a transaction as possible. That is why more BHPH dealerships can and will schedule your payments around your pay dates. Most payments can be set up for every week, every two weeks or monthly.
For your convenience, most dealerships will take these payments in person, online or by snail mail. Traditional dealerships are not nearly as flexible as they are there to serve their shareholders and not the customers.
Would You Like to Boost Your Credit Score?
Buy Here Pay Here Dealerships report payments to all of the major credit reporting agencies. Every time you make an on-time payment your credit score will be boosted.
Buy Here Pay Here dealerships take the guesswork and stress out of purchasing a new or used vehicle. Check out your local BHPH dealership online and request recommendations from friends and family. A good source of information on individual dealerships is the Better Business Bureau website. Checking them out first will give you the peace of mind that you are doing business with a dealership you can trust. Then take a trip to your local dealership and let them put you in a car or truck you love.