There are many reasons why credit markets have changed. These changes have led to the necessity of buying here-pay here car dealers. Not too long ago, poor credit was allowed to get an auto mortgage if they put down a substantial amount. Now, the rules are different and people with poor credit cannot get a traditional auto loan. The buy here pay here car lots, is the only solution as people still require vehicles to live in today’s world.
Car Dealers that Buy Here, Pay Here vs. Traditional Car Dealers
Most people are familiarized with the traditional car dealership. This is where the dealer sells the vehicle and arranges financing through the third party lender. The buyer must have a stable source of income and sufficient credit to finance the car. The credit applicant will be declined credit to purchase the car.
This is the place where the buy-here-pay-here car dealer comes in. Their business is exactly what its name implies. They sell cars here and customers pay here. This non-traditional dealer caters for customers with poor or no credit and who are not able to obtain financing at traditional car dealers. The BHPH car dealer offers financing in-house that doesn’t require the buyer to apply for an auto loan through a third party. The car dealership is selling and financing the vehicle.
The BHPH Vehicle Buying Solution
If you are not paying cash, buying a car at a buy here/pay here lot is probably the least economical way to purchase an automobile. The BHPH dealership specializes is helping people who have credit problems because of job loss, medical bills, divorce, or other circumstances to purchase and finance automobiles.
First, visit a nearby buy here pay here dealership and discuss your auto needs. In-home financing from BHPH car dealers does not have the same rigid terms as traditional auto loans. This is because car payments and terms are tailored to your financial constraints, requirements, and ability to pay. Usually payments are made weekly, bi-weekly, or at the dealership in person. It is much simpler than paying one large monthly bill. Most dealers that offer financing in house work with subprime lenders.