Now is the best time to go to a buy here pay here used car dealership. Gas prices are going down and food prices should soon follow. It’s a great opportunity to begin fixing your credit profile. The best way to do that is financing a car. If you have bad credit it your best choice is to go to a buy here pay here dealership. They finance people with first time credit, baby credit, no credit and bad credit. They even finance people with low down payments and sometimes no down payment. There are buy here pay here dealerships everywhere but it’s important to know which ones to go to and why.
1. Quality: Look for dealers who take good care of their cars. There are dealerships who fix there cars up before selling them and those who will sell you a car with a problem. Ask around and see which ones take good care of their cars. Cars are sold as is no warranty but the good buy here pay here dealers will service their cars
2. Quantity: You want a buy here pay here dealership that has a wide range of cars, sedans, trucks, mini vans, full sized pick ups and more. They should carry Ford, Chevy, Chrysler, Mercedes, BMW, Volvo, Jeep, Buick, Toyota, Honda and Lexus at the very least. Bad credit happens to good people and everyone with bad credit isn’t the same. They all have different situations they need help getting out of and fit them best for their current situation.
3. Down payment choices: It’s always better to put more down payment down as you’ll pay less on interest. Not everyone has a lot of money to just put down on a car and if you are in a bad credit situation or need special financing odds are you have a lot of bills you need to pay down. The best buy here pay here dealerships will split up your down payment for you and give you a certain amount of time to pay it off. They can also defer your first payment for 60-90 days until you get caught up with the down payment. A good buy here pay here dealer will finance you for $500 down or less.
4. Rebuild for your future today: The most important feature of financing at a buy here pay here dealership is reporting your payments to all three major credit agencies. Credit reporting raises your credit score and this is how companies determine whether or not to give you a car loan or a loan on a house. Having a high credit score will save you thousands of dollars over your life time in interest and fees. While this isn’t required for dealers to do the good ones who actually care will report your credit once you generate some history with them. Don’t ever finance a car from a dealership unless they report your payments. If they don’t report it’s not worth it.
5. 60-90 days same as cash: If you don’t want to finance an expensive car there are some dealers who can do a 60-90 day same as cash deal. If you come in with $500 down or less than they can give you 60-90 days to pay off the rest with no interest.
If you have any questions as to how buy here pay here works or need help getting an auto loan give us a call at 303-623-1926