Buy here finance here car dealerships are everywhere for a reason. In a down economy a lot of people have bad or no credit or spotty payment history. Unfortunately, none of that will help you finance a car through a regular dealership. Buy here pay here dealerships help good people who have no or bad credit get financed for a car. Some of them, although not all of them, also work with other companies so your payments get reported which in turn improves your financial scores. Having a higher credit score lowers your interest rate and raises your financial profile in the eyes of any company that you can get a loan from, including a bank or other finance company.
One of the complaints of buy here and pay here dealerships are the prices. This isn’t by accident that they are a little higher than if you
Buy here pay here has been around longer than most people may think. The only reason you’ve just heard of it is most likely because you’ve fallen into a bad credit situation. Buy here pay here wasn’t a choice and didn’t have to be an option until you fell into an unfortunate situation. It has been around for quite sometime. Buy here pay here dealerships are independent from bigger, franchise named dealers like John Elway, Medved or Emich. They set up their dealerships in all sorts of different places but usually in and around big cities as that’s where they can get the most exposure to customers with no credit or bad credit. You could also find them in rural communities surrounded by small towns.
Your credit profile is how companies determine whether or not they can loan you money. The ideal credit profile