What Are The Benefits Of Purchasing from a Buy Here Pay Here Dealer

Almost everyone in Topeka needs a car, but getting a vehicle of your own can be an uphill battle if you’ve had credit problems in the past. You may have heard of Buy Here Pay Here dealers as an option for getting poor credit car financing in Topeka and across Kansas. Here we’ll discuss some of the benefits of Buy Here Pay Here dealerships over traditional financing.

What Is a Buy Here Pay Here Dealer?

First, let’s discuss what a Buy Here Pay Here car dealership is. If you get a loan on a Buy Here Pay Here car, you’ll make the repayments of the loan directly to the dealership. This is different from the traditional way people used to buy cars by arranging for a loan from a third party bank or lending organization.

This is the fundamental difference between traditional financing and a Buy Here Pay Here dealer, and it’s certainly a benefit not to have to deal with a third party. Making your repayments to the dealership is easier, faster, and makes sense.

Why Buy from a Buy Here Pay Here Car Lot in Topeka?

The benefits of purchasing from a Buy Here Pay Here dealership do not end there. We must consider why you’re making payments to the dealership and what that means to the underlying business mechanics. A Buy Here Pay Here car lot is not simply a car dealership; it’s also working as a lender. This gives it more autonomy and choice on who to sell to and the terms of loans.

Access to Financing

For those with a poor credit rating, one of the principal benefits of Buy Here Pay Here dealerships is increased access to financing. Many Buy Here Pay Here companies were set up to fill the needs of customers who couldn’t buy a vehicle with financing through traditional means.

Over a third of the people in America have a credit score between 300 and 679, rating their credit as ‘poor’ or ‘fair’ at best. How do these people get financing for a car if banks won’t lend to them because of their credit rating?

Poor credit car financing companies can decide their own metrics on what makes someone a fair choice to lend to. Usually, this doesn’t involve a credit check. The borrower is evaluated on his or her own merits at the time of purchase.

If you do choose to come to a Buy Here Pay Here dealership in Topeka that specializes in poor credit financing, you’ll find that the barrier to entry is a lot lower. You’ll still need to be able to show you can repay the loan (such as by showing recent pay slips), but any past indiscretions with credit are not taken into account.

A Friendly, Helpful Service

The Buy Here Pay Here dealers who have been selling cars in Kansas and Missouri for decades have remained in business thanks to solid business practices and excellent customer service. As a business that succeeds or fails based on word of mouth, Buy Here Pay Here dealerships bend over backward to ensure customer satisfaction every time.

The niche has been carved out as being the alternative to uncaring banking conglomerates that think of borrowers as no more than a number in a credit report or a profit margin in a sales report. Buy Here Pay Here financing was born out of a reaction to this impersonal route and it has thrived ever since.

Established Buy Here Pay Here dealerships in Topeka have knowledgeable, friendly, helpful staff that can help you at any step of the process. You’ll be advised how much you can borrow based on your salary. You’ll be pointed toward the hundreds of vehicles on the car lots from which you can choose. You’ll be advised on the limited warranty you get free on all purchased vehicles. Any questions you have about eligibility, repayments, and car choices will be promptly answered.

Contrast that with the service you’ll get from a bank when you try to get a loan and you’ll see how the Buy Here Pay Here is a much more personal, individual experience. Buy Here Pay Here dealerships are in it to help you get into the car you need.

Improving Your Credit Score

In some cases, Buy Here Pay Here lenders will be able to help you improve your credit score by reporting the successful repayment of your loan. Over the past few years, new federal guidelines have been put into place that say credit reporting agencies must track positive credit transactions alongside negative credit transactions. This can mean that if you buy your car from a Buy Here Pay Here dealership that reports to the credit reference agencies, your credit score can improve. Talk to your dealership for more information.

More Flexible Payment Terms

Buy Here Pay Here dealerships are much more likely to be flexible on the terms of your loan than traditional dealerships (who are working with a bank or who expect you to find financing yourself.) This can be beneficial if you have an unusual case that doesn’t fit into the cookie-cutter loan terms of a bank.

For example, Buy Here Pay Here dealers will often let you drive away from the dealership in your new car with a lower down payment. This is because they know people with poor credit don’t necessarily have a large lump sum to put down on a car.

On the other hand, if you do have a lump sum for a down payment, the flexible terms of the loan allow you to lower the amount you’ll repay each month. You can even purchase a more expensive model thanks to the larger down payment you can afford to pay.

Where Can I Get a Buy Here Pay Here Car in Topeka?

Auto Now is a long-serving, respected Buy Here Pay Here dealership in Topeka that will help you get the car you need regardless of your credit situation.