Defining Buy Here Pay Here
A buy here pay here loan is exactly what it sounds like. Rather than financing your car through a bank, credit union or other third-party financial institution, as most car buyers do, buy here pay here loan allow you to obtain financing directly from the dealer that’s selling you the car. Some may ask what the benefit of a buy here pay here auto loan may be. The process is helpful for those who have had difficulty obtaining traditional financing and need quick approval so they can get into a car. Buying a car is often a time-sensitive issue and credit-challenged borrowers need options in the event that their current vehicle fails them. Buy here pay here loans make approval easier.
How Do Buy Here Pay Here Loans Work?
Buy here pay here loans work much like any other loan. A buyer fills out an application to obtain financing and is subject to paperwork verification and approval. Once, approved, however, the buyer will spend the life of the loan making payments directly to the dealership that will, in turn, pay back the lender that’s providing the backing. Our sales team works with a variety of lenders to get you multiple options and the best rates possible. Some buy here pay here dealers require weekly or bi-weekly payments. It’s important that you choose a dealer that offers convenient and realistic loan packages so you’re comfortable making your regular payments.
Helping Customers Rebuild their Credit
Many customers choose the buy here pay here option because they have had past issues with credit. The good news is that when they get approved for an auto loan of any sort, they can use that as a stepping to start rebuilding their report and increasing their score. This will eventually make it easier for customers to buy a house and open other doors that may have been closed to them with sub-prime credit scores. Buy Here Pay Here Inc. understands that financial issues can happen to anyone, whether it’s credit card debt, divorce or even bankruptcy, and is proud to help our credit-challenged customers start to rebuild their finances.
Proudly Serving Montgomery County
Buy Here Pay Here, Inc. has become a fixture in the Montgomery County, PA area because of our commitment to helping our friends and neighbors buy the cars that help them live their lives. Whether it’s new parents upgrading to something larger to accommodate the new edition, a family getting a second car for a newly licensed son or daughter or a professional looking to get something more forgiving on their daily commute, we serve every type of customer and are grateful for the opportunity to do so. Buying a car doesn’t have to be a confusing or overwhelming experience. Buy Here Pay Here, Inc. can help you and your family take the logistical headaches out of the process so you can get the car you want at a price you can afford. Call us today at 215-274-0069 to find out more.