How Does Buy Here Pay Here Work

Buy here pay here dealerships work based on extending credit to their customers purchasing a used car. At Auto Now on 79th & Wornall in Kansas City, Missouri, this means the buying process is all under one roof. While the buy here pay here programs originated sometime during the 1970s, our Auto Now dealership has six location spread through Kansas and Missouri which began over twenty years ago. During its origin in the 1970s, buy here pay here became a necessary program to help those who found it difficult to obtain a loan due to unemployment and changing economy. Buying a car is often solely based on lenders who traditionally look at a credit score to determine need. But when banks cannot loan to a customer who needs reliable and affordable transportation, there is a hole in the market and often people who are left stuck in a situation without any means to move forward.

Regulated to protect the consumer

When auto dealerships sell through a buy here pay here financing program such as the Auto Now on 79th & Wornall in Kansas City, we are heavily regulated through state and federal law. What this means is that the consumer is protected from predatory practices. Our experienced staff stays up-to-date on regulations and laws which affect not only our business and way of making a living, but also the customer’s ability to find an affordable car. Keeping ahead of the curve and knowledgeable means our staff is ready to assist you whenever you are ready to visit one of our locations throughout Missouri or Kansas. Some of the regulations set in place to protect and benefit the consumer are:

• The Truth in Lending Act
• State Usury laws
• The Safeguards Rule
• State & Federal Unfair & Deceptive Practices laws
• The Used Car Rule
• The Red Flags Rule

Non-traditional lending

Banks and credit unions are traditional lenders who favor credit scores almost exclusively when deciding on lending. Filled with this type of lending is the application process, especially if going through a traditional auto dealership, which can take a significant amount of time and paperwork in addition to potentially having negative effects on your credit score. Hard inquiries, as they are sometimes called, can often result in lowering your credit score. For customers who are already having credit issues, a lowering credit score is not an incentive to seek lending. Fortunately, at the Auto Now on 79th & Wornall in Kansas City, our buy here pay here lending program takes place all under one roof since we are the lenders. What that means for you is working one-on-one through the searching, lending and purchasing process on your way to owning a used vehicle from our lot.

Purchase and pay, all under the same roof

One huge advantage to our buy here pay here program is in the name- buy here, pay here. Our Auto Now dealership makes it easy and accessible for used car buyers to purchase and set up their loan payment plan all in the same place under the same roof. Instead of working with a third party for the lending, everything happens with Auto Now on 79th & Wornall in Kansas City, Missouri. Depending on your needs and affordability will depend on the frequency of your payment plan, which can be set up at our dealership and done online through our payment portal. Our staff will work with you every step of the way and ensure your payment schedule works for you and your budget.

Build your credit score

One shining advantage of a buy here pay here dealership is that through setting up regular payments, you are building back any low credit and repairing any past credit issues. Getting a loan with low credit can often be a challenge. When you are looking for a something as necessary and helpful as a vehicle, it can be nearly impossible and a barrier to moving forward in other parts of life. Purchasing a vehicle through our buy here pay here program will not solve all the problems, but it is a start in repairing any damage to a credit score and can help be a step for future investment and financial responsibility.

Loan pre-approval

Buying a car is a process. But that process should start with knowing how much you can afford rather than the kind of car you want. In fact, we highly encourage our customers to go to our pre-approval application online which will help guide to what is affordable. Knowing a budget will help establish what kind of used car you can afford and what car you need from our inventory of over 500 used cars throughout Kansas and Missouri. We work the opposite way of many traditional dealerships in that our staff wants to know what you can afford first, before looking at vehicles. Having the buy here pay here program means everything happens under one roof and our team work directly with our customers every step of the way.

Whether you are looking for a pre-owned vehicle today or thinking about purchasing a used car in Kansas City in the future, Auto Now on 79th & Wornall is ready to assist you. Not only is our extensive inventory of over 500 cars available to browse online or in person, our buy here pay here dealership program is ready to work with you to find the best financing available. Regardless of your credit history and regardless of whether you have a low credit score or not, our team of experienced employees are here to help through the entire process. Come by Auto Now on 79th & Wornall in Kansas City or visit one of our other five locations throughout Missouri and Kansas. Having an auto dealership with everything under one roof means Auto Now is an efficient option to car buying without going through third-party lenders or dealing with piles of paperwork lasting hours.