4 Things to Know About Buy Here Pay Here Dealerships

by Bobby Gruner - Posted 1 year ago

4 Things to Know About Buy Here Pay Here Dealerships

Buy Here Pay Here dealerships can make buying a car easier by offering in-house financing. This allows them to offer loan assistance when banks and common dealerships won’t because of challenged credit.

How can you get approved for a car loan when you don’t qualify for traditional financing? Continue reading to find out!

1. Determine Your Budget
The last thing you want to do when you get to the dealership is worry about if you can make the monthly payment. Start with your living expenses. Make a list of all your bills, and don’t forget to add insurance and gas. Tally up your monthly costs and remember to leave a little wiggle room for unplanned expenses.

2. Save for a Down Payment
The more you can put down, the lower your loan payment. If you can put down more, that’s great, but don’t forget you will also need money to register your vehicle, pay the first month’s insurance premium, and put gas in the vehicle.

3. Know Your Credit Score
Buy Here Pay Here dealerships are a great solution for those who are looking rebuild their credit. However, going over your credit score and correcting any errors before applying for a loan will help you get approved faster and could get you a lower interest rate. Know your score before you go.

4. Make Your Monthly Payments On Time
Many dealerships offer several convenient ways to make your payments. How can you avoid making late payments? Work with the dealership finance manager to ensure your payment aligns with your pay dates. Making all the payments on time will build your credit.

If you’re looking for a used car with bad credit financing options and can afford to put a little down, check out our inventory online or contact us today to get the process started!