Are you looking for the best Buy Here Pay Here Car Dealers in your Area?
If you suffer from bad credit and are looking to find the best buy here pay here dealerships in your area but just have no clue how and where to find them, do not worry!
Today you will learn not only how to find the best buy here pay here auto dealers in your area with in-house financing for a car loan, but you will also learn about pay here financing and how it works. That is not all, we will also discuss how pay here car lots auto financing options work best for those with a poor credit history.
To have a first-hand look at what it is like financing a $10,000 vehicle at a buy here pay here car lot, be sure to watch the following video:
Finding the Best Buy Here Pay Here Car Dealership Near You
Naturally, you’d prefer to buy a used car at a buy here pay here car dealership near you. You don’t want to have a big trip that takes you a lot of time, only to find out that the car you were eyeing didn’t live up to your expectancy.
It’s always a smart idea to check the Yellow Pages for used buy here pay here car dealership near you. Once you’ve found a few, pay them all a visit and let yourself be informed. Don’t let them talk you into rushing a decision, you’re trying to get an impression before you decide to take the plunge.
Not rushing into anything will work to your advantage. Salesmen will pick up on your doubts and as a result, they will usually offer you discounts. Don’t ever believe them when they say you have to decide right now or the discount is off.
The dealer will more than likely sell you the car at the earlier proposed discount if you come back a few days later. After all, he’d rather sell the car with a smaller profit margin than not sell the car at all.
Tips For Finding The Best BHPH Car Dealerships in your Area
1. Examine the car yourself and have it inspected by your own mechanic. Any reputable dealer will offer you the chance to do this before you buy it.
2. Prior to purchase be sure to do some driving test on various road terrains. This ill help you know whether the car you are about to buy has any mechanical problems that you were not informed about.
3. Consider the dealer’s reputation before you buy. Great dealers will have customer testimonials. You should also call the Better Business Bureau (BBB) to find out if they have any unresolved complaints or look for the BBB seal on their website and review their profile.
4. Dealers are not required by law to give used car buyers a right to cancel. Before you purchase from a dealer, ask about the dealer’s return policy.
5. Get copies of everything you sign. This is very essential for you can get to use a clause on the contract you signed in your defense if everything does not run as smooth as you probably expected.
6. Research the cost of ownership for the vehicle you are interested in. You can get this information from the transportation department as they normally have information on gas mileage and recalls.
7. Ensure that you get all the necessary documentation on any progress made on the deal. Ensure that all the promises and warranties are put into writing, and get a receipt for any money you give the dealer. This is the only way to have proof of transactions being carried out.
8. Be sure the dealership or finance company reports your good payment history to the credit reporting agencies. This will improve your credit score (over time) and can lead to lower interest rates in the future.
9. Don’t commit to buying more than you can afford. You should look into your situation and make a decision on how much you can afford to pay and at what period on a regular basis.
10. Many used cars come with an “As is” car warranty, which is to say no warranty at all. Reputable car dealerships do generally offer a free warranty, so ask and make sure you understand what you are getting.
Keep that phrase, “reputable car dealership” in mind. That’s important to understand. Dealerships should not be run like an assembly line, just churning sales through (often chewing customers up in the process). Great dealerships advise and counsel their customers; working with them to find the right fit for vehicle and financing.
How Buy Here Pay Here Dealers Operate
Buy here pay here car lots are used car lots that are operated within a network of dealers participating in the buy here pay here car program. The program is intended to be utilized by first time buyers, young buyers, buyers with various problems with their credit, or buyers that simply have no credit.
One process is the person interested in buying a used car completes an online credit application for the credit bureau which is provided by the BHPH car program. This is then submitted and within a specified period of time, the application is circulated to participating car dealers.
When the application is accepted by one of the dealers, the applicant is notified within a specified period of time that the application for credit has been accepted. The applicant then goes to that dealer and buys a new – used car.
The buy here pay here car lot also works where the potential buyer goes into a dealership that offers this program. Ideally, this dealership has the car you are interested in. As the dealer reviews your credit application for the credit union with you, they are also determining just how much you can actually afford to make as monthly payments on the vehicle. It works out really well if the car you are interested in is one of your choices for a ‘new’ car.
Also, it works out best for all parties if the dealership is near where you live.
This program is based on the ‘buy here’ theory where you actually buy the car directly from the dealer where you submitted the credit application.
This is different than where you might go into a dealer that only sells one or two brands of vehicles and those vehicles are financed through the car manufacturer’s financing arm. With these dealers, you might go ‘shopping’ with the salesperson through the various inventory available at other dealers.
If you find the exact vehicle you want with all the options, the dealer will have it brought into the lot for you to buy. In this case, you also mail in your payments directly to the finance company that provided the financing for the vehicle.
The other part of the program is the ‘pay here’ aspect which means you also pay for the car at the dealer. You actually take the cash or money order or whatever the means of the payment directly to the used car dealer where you purchased the car.
The auto dealer has the option to set up various payment plans. They work with the applicant to structure the repayment plan to match the buyer’s budget. It may require a weekly or bi-weekly payment. But the object is to make it manageable for the buyer.
The car dealer really doesn’t want to have to take back the car if the buyer fails to make the payments on time. The program is intended to get a potential buyer into a car of their choice.
If you are in search for more information on how and where to find the best used cars and dealerships available in your area, be sure to read the following related articles.