• Can a Buy Here Pay Here Car Dealership Help ME?

    Are you feeling tired and frustrated with your car search? That is the phrase I hear the most often from customers that walk into our lot. Every time I ask why the answer is always the same. “I’ve been to 5 different dealerships and they all tell me that they can’t help me get approved or that I need a cosigner.”

    Buy Here Pay Here dealers are out there to help the customers that are having trouble getting financing elsewhere. These customers cannot get financing for one or all of many reasons:

    • Poor credit history
    • Previous Repossessions
    • Bankruptcies
    • Low income or time at job
    • No credit

    These are the customers that Buy Here Pay Here is out there to help. If a bank turns you down, requires too much payment, the payments are too high, or the interest rate is too high, a customer can turn to a Buy Here Pay Here.

    These In-House financing programs can offer these turned down customers the opportunity to finance a car. And most importantly, build their credit in the process. A Buy Here Pay Here dealership has a banking license, which means they are able to finance a vehicle to any customer they like without going it through a bank. Since the Buy Here Pay Here is the bank, they can set their own terms on what it takes to get a customer approved. This allows me to tell that tired and frustrated customer, that we are here to help.

    It is very important to note, that not all Buy Here Pay Here dealerships are created equal. It is very important when shopping them to make sure of a few key ingredients to a good deal. First, do they report to the credit bureaus to help build credit? If not, then the record of good car payments will not reflect on your credit, one of the main reasons for purchasing from a Buy Here Pay Here. City Select Auto Sales reports to all three credit bureaus.

    What kind of warranty is offered? Refer back to our previous blog post for more info on warranties. City Select Auto Sales offers a 1 year limited warranty with most vehicles.

    What interest rate is offered? Refer to this blog post for more info about different types of interest. Some dealers sell vehicles with over 25% interest rates. This type of loan will result in massive interest charges, and take way too long to pay off.

    So if you’re feeling tired and frustrated with your car search, I suggest you take a look at a Buy Here Pay Here. You won’t need a cosigner, and they’ll be able to get you approved and driving.

    Automotive by Cityselectauto