Buy Here Pay Here Auto Financing Explained

Chances are likely that if you’ve driven on a highway anywhere that passes through a big city, you’ve seen a buy here pay here car dealership. They’re almost unavoidable – with flashy signs outside their establishment, a variety of cars of all makes, models, and years, and sprawling lots. Deciding to go into a restaurant that looks like this (with all the bells and whistles on the outside) is a gamble, so why wouldn’t an establishment trying to sell you something as big as a buy here pay here car not be a gamble? Unfortunately for buy here pay here dealerships, this type of thinking and lot decoration have given them a bad rap. Buy here pay here car dealerships are some of the most affordable and dependable places you can find to buy a car. There are usually hundreds of different vehicles to choose from, affording potential buyers a greater choice. They let buyers who typically would not be able to afford a car have the opportunity to get one. Finally – they’re very affordable.

Still, armed with this knowledge, many avoid buy here car dealerships instead of other options. If we had to guess, part of the turnoff from buy here pay here lots probably comes from how different their payment process is from the normal borrowing process.

Buy here pay here auto financing shouldn’t be some strange, unobtainable piece of knowledge only available to the most advanced car buyers. It is a simple deviation from standard lending options, and with the right understanding about the process, it is possible to gain a lot from it, especially if you have previous credit issues. Here’s a quick breakdown of what makes buy here pay here car financing so different and how you can use it to your advantage.

Applying Online Regardless of Credit

The first step in getting approved is letting yourself take that first step. Too often, those of us with bad credit don’t allow ourselves to apply for the things they want – out of shame or otherwise. We promise our potential customers that regardless of their credit history, we want to give every one of our applicants a chance. There are specific qualifications that must be met, but none of them have to do with credit history.

Apply at home to get the most out of this effortless application experience. At home, you’ll have safe access to your social security number, driver’s license number, and financial information. All of this information will help the folks at AutoNow of Wichita make a decision on how much to lend to you, and all this sensitive information will be appropriately stored to ensure the safety of our customers.

Getting Approved

Getting approved for buy here pay here financing at AutoNow is relatively simple. We only ask that you make a base amount of money after taxes each month – a meager $1200. This amount shows us that you have at least a part-time job and are diligent about making money to pay off your investment. You’ll be approved after you submit the information asked on the online application, and you’ll be able to start shopping for your car then!

Picking From a List of Pre-Approved Vehicles

Most of the time, car shoppers pick out their vehicles before they get their loan. But with buy here pay here car dealerships, this process is a little different. First, you apply for financing with the buy here pay here dealership. From there, based on your financial obligations, you will eventually be approved for a certain amount. Once you get that approval, you’ll be able to browse a selection of pre-owned vehicles that work with your loan amount. We guarantee all our pre-owned vehicles, so even the ones that cost less are trustworthy and can be considered as primary drivers.

Meeting With a Representative & Signing Ownership Papers

Finally, once you have your funding and an idea of what you want, you meet with a representative from Auto Now of Wichita. They will assure you’ve made the right choice for your financial situation and will get you set up with ownership papers. You’ll need to make sure that you have everything you need to prove your ability to own a car, even though you will have most likely already filled out the approval paperwork beforehand.

Once you sign the paperwork, you are good to go! You’ll be able to drive away with your new car in much less time than it would take someone applying for credit for a new car or a bank loan for an old car.

Is Buy Here Pay Here Auto Financing a Good Choice For Everyone?

At AutoNow of Wichita, we firmly believe that investing in a buy here pay here car is an excellent choice for a variety of people, regardless of credit history. There are many reasons why you’d want to take the opportunity to buy a buy here pay here car if you got one. For one, it is possible to rebuild your credit and get on track for more significant lending opportunities by taking advantage of the quick payment terms available through AutoNow. Even if you have a perfect credit score, it can’t hurt your score at all to make consistent and on-time payments on a big purchase like a car. Buy here pay here vehicles also are great cars for those who might need a daily driver that is different than their work truck.

Finally, keep in mind that a buy here pay here car is still a used car. It doesn’t profoundly differ in its makeup, just in its application. Using this alternative lending system, you’ll find many more doors will open to credit-related opportunities.

Getting started with an online application today will kickstart your lending opportunities with AutoNow of Wichita. Alternately, you can stop into our Wichita location on Seneca street to speak with someone who can help you understand the importance of buy here pay here auto financing. Don’t let the complications of financing a used car get you – work with AutoNow to get your next vehicle.13