Learn How Buy Here Pay Here In Kansas City Can Benefit You

What Does Buy Here Pay Here Mean?

When consumers purchase a vehicle through a traditional auto dealership, the loan is funded through a finance company that lends money to buyers based on their creditworthiness. A buy here pay here auto dealership cuts out the finance companies and intermediaries and finances the vehicle purchase itself, in-house.

Some traditional auto dealerships have started to see the value in offering buy here pay here financing options to clients but the best deals are usually found with companies like ours who have a focus on helping consumers with credit issues find a car and purchasing options that work best for them. Even customers without credit problems should consider purchasing a vehicle through a buy here pay here dealership to get a great deal on a certified pre-owned vehicle.

So, here are five reasons why consumers should consider a buy here pay here dealership before buying their next vehicle.

The Law is on the Consumer’s Side

Since buy here pay here dealerships are also financial institutions there are stricter laws that they have to abide by then a traditional dealership. If they were to fail to follow these state and federal laws, they would be shut down.

One example of laws protecting buyers is the Truth in Lending Act or TILA, which requires the dealer and/or the financer to disclose all pertinent information to the buyer so that they can shop around for the best deal. This includes the full amount to be financed and the full and final cash price.

There is also State Usury Laws, which caps the interest rates that businesses can charge on loans, the Fair and Accurate Credit Transaction Act, which protects consumers from unfair credit reporting, and the Fair Debt Collections Practices Act, which outlines the ways companies, can go about collecting debts.

Pro tip – When consumers find a car they like, they should always make sure to ask the dealer for a complimentary CARFAX report.

In-House Financing

Buy here pay here dealerships will work with anyone regardless of their credit history. Since all of their financing is done in-house, they have options consumers won’t find elsewhere and they are determined to work with consumers to find a deal that is satisfactory for every person and situation. Their goal is to get these buyers the car they need regardless of their credit score. As long as they have a valid home address and a provable steady income, consumers are almost always guaranteed financing approval.

Another benefit is that the dealer can set up a payment schedule that is weekly, semi-monthly, or monthly. Since consumers are working directly with the financier, they can usually set up payment due dates in conjunction with buyers paydays to make paying on time that much easier. This will also help consumers to boost or build their credit score for the future. With on-time payments, consumers will quickly see a positive impact on their credit rating.

With buy here pay here car lots like Auto Now at 79th and Wornall in Kansas City, buyers make all of their payments directly to the dealership meaning they can pay in person or online. This is just another way that a buy here pay here car lot gives them more options that fit their busy lifestyles.

Help with Down Payments

BHPH dealers are usually more willing than traditional dealerships to take a buyer’s used or beat-up vehicle as a total or partial down payment on a new car. This can save consumers a ton of cash up front, as they won’t need as much of a down payment!

The Focus Is on Consumers

Shopping with a buy here pay here dealership is different from shopping with a traditional dealer. Instead of shopping around for months for a perfect car at a traditional dealership only to find out later that they can’t get financing for it, a BHPH specialist will sit down with the buyer and determine how much of a loan they qualify for and how much of a down payment they will need before starting the process of shopping for the right car. They will also consider any trade-ins that buyers have at this time. Armed with this information, consumers can choose the financing that works within their budget and choose the vehicle within that budget that works best for them and their family. There is no time wasted looking at vehicles only to find out later that they simply are not right for buyer’s needs.

Amazing Customer Service from Well Trained Professionals

BHPH sales agents are highly trained and knowledgeable about vehicles, financing options, interest rates, and warranties. With their diverse backgrounds and educations, these knowledgeable staff members can help buyers find the car or truck that is right for them.

Buy here pay here dealerships recognize that car buyers are more than a credit score. Since many of the highly trained sales agents working at these dealerships live in similar situations as their customers, they are able to look beyond a number and see the hard-working person instead. This means these sales agents and specialists recognize the need for a reliable vehicle to get consumers to work, to safely get their kids to school and practices and to keep them safe on all of their road trip adventures. These sales agents work hard to help clients find the best deals possible while creating business relationships that will last for years to come. So, instead of being treated like a number on a screen, buyers should check out a local buy here pay here auto dealership and let them find the right car for them based on their budget and ability to pay.