Top 5 Benefits of Buy Here Pay Here Financing

When looking for a vehicle many things are taken into consideration. You can purchase a vehicle from a dealership or from a person privately, but what about financing?

Many people are capable of paying and making payments for a vehicle but do not have the credit history to do so. Buy here pay here financing for vehicles in Topeka allows people looking to purchase a vehicle options that are not offered at regular dealerships or from buying from a private seller. These benefits include getting more for trade-ins, guaranteed financing, credit building, one-stop shopping, and getting a reliable vehicle.

Better Trade-in Values

Car dealerships need cars to sell. Dealerships do not have an endless amount of vehicles to sell. This is a great advantage to buying at a dealership that finances their own vehicles. Because the dealership does their own financing, they are able to work with the numbers to get you the best value for a trade-in. They are going to be looking for new vehicles that they can turn around and finance, and as the buyer, you want to get the most out of the vehicle you are looking to trade in. Because of this, a buy here pay here dealership has more flexibility over trade-in values compared to a regular dealership or self-seller that doesn’t take trade-ins at all. It allows you as the buyer the ability to negotiate more and gives you the ability to get the deal you need to make a purchase you need.

Guaranteed Financing

Think of one thing that prevents people from purchasing a new or used vehicle. What is the first thing that comes to mind? A person needs to be able to finance the vehicle to make a purchase. Without a bank that is willing to finance the vehicle for the buyer, there is no sale. What is more embarrassing than going to a car dealership or bank, asking for a loan, and being told, sorry you don’t qualify?

Alternatively, you could be in desperate need of a vehicle and feel like there are no options because you can’t get a loan.

This is another benefit of purchasing from a buy here pay here auto dealership. You are guaranteed financing. Regardless of your credit history, you don’t have to go through strict credit checks and applications to get credit to buy the car. If you go to the dealership with the intention of buying a vehicle, you will leave with a vehicle. No denials or being told sorry we can’t help you.

If you know you are going to have an issue at a regular bank then you can skip the multiple credit checks from multiple banks. You can go to one place and get the financing you need, guaranteed, regardless of past credit history.

Credit Building and Teaching Responsibility

You have problems paying your bills. You need a vehicle to get to work, and you need someone to give you a chance to build your credit so you can have further opportunities in the future.

Paying off a loan is a great way for building credit and repairing credit that is bad. In addition, most dealerships that offer financing are going to require payments every other week or monthly, making sure that a payment is received regularly for the vehicle. This teaches buyers how to be responsible with their money and make good financial decisions.

If you need to have a vehicle, then you need to make the payments. Learning financial responsibility and credit building is only going to allow for more opportunities to get credit and have good credit in the future. In that sense, as a buyer, you not only get the benefit of obtaining a car that is needed but also the benefit of building better credit for the future.

One-Stop Shopping

What is the normal process people take when purchasing a vehicle? Some people go to the bank first to get a loan. Others go pick out a vehicle and then go to get the financing they need, often times running into issues with either getting the financing once the vehicle is picked out or finding a vehicle for the amount of financing you are offered.

Another problem buyers face is that once they find a vehicle they want is that the payments are too much monthly.

How great would it be as a buyer, to go to a dealership, find vehicles within your price range, secure financing easily, and then leave with the vehicle? You don’t have to go to multiple places. You don’t have to decide and then be forced to choose something else based on a monthly payment.

One thing that buy here pay here car dealerships offer is the ability to one-stop shop. You go there you pick out your car and you leave with your car. One-stop shopping is a great benefit you get from buy here pay here car dealerships.

Reliable Vehicles

The last benefit that there is for purchasing from a buy here pay here car dealership is the guarantee that you get a vehicle that is reliable. If you buy a vehicle from a normal car dealership, you have no guarantee that the vehicle will be reliable. However, buying a vehicle from a dealership that finances the vehicle themselves, they are going to guarantee the car runs. If the car isn’t running then they cannot make their money.

Most dealerships with buy here pay here financing offer extended warranties for vehicles. They want to put someone in a vehicle that they are going to pay for and that is going to be running.

Exemplary buy here pay here dealerships in Kansas and Missouri like Auto Now offer two-year warranties on the vehicles we sell – at no extra charge! Talk to us today about getting yourself into an excellent used vehicle at Auto Now.