What Are the Benefits of Using a Buy Here, Pay Here Dealership?

If you’ve heard of a buy here pay here dealership, chances are you’ve heard at least one bad thing about this type of dealership. This flack typically comes from people who have good credit and have never used a buy here pay here dealership, which means that they don’t often know what really goes on behind the scenes of a dealership that offers on the lot financing. Buy here pay here dealerships are designed to help everyone, regardless of credit, find a car when they need one. Whether you need a car quickly after your daily driver was totaled or you have been having problems obtaining a loan for a third party sale of a vehicle, there are many reasons why buying from a buy here, pay here lot can be beneficial.

Here are our top ten reasons why you should consider a buy here pay here lot, like Auto Now in Olathe, Kansas, for your next vehicle purchase.

Top 10 Reasons For Buy Here Pay Here

1.You Can Rebuild Your Credit Relatively Quickly

Most often, customers of buy here pay here establishments have had issues obtaining financing for a car from places like banks and credit unions. This is because their credit history is less than satisfactory. Car lots that offer on the lot financing understand that a credit score is not the most accurate depiction of a person’s financial capabilities. Therefore, when you apply for financing on a used car at a buy here pay here lot, the specialist you work with bases your payment and loan type on your financial capabilities and income. By making on-time payments, which Auto Now reports to the major credit bureaus, you can start rebuilding your credit without having to pay off large sums of open credit accounts to do so.

2. If You Need a Car Fast, You Can Get it Fast

Sometimes, you can’t wait the four weeks it takes to apply for a traditional loan, get approved, have the loans disbursed, and finally purchase the car. Your job depends on reliable transportation, and third-party dealers often won’t wait weeks to sell you a vehicle before they sell it to someone else. At buy here pay here lots, you can usually get approved for a loan, select a car, and drive away with it in one day.

3. Buy Here Pay Here Dealerships Are Usually Accredited By Outside Organizations

To deal with reputations that have been placed upon them, organizations exist that validate the worth of buy here pay here organizations. NIADA, for instance, is one such organization that was designed to show potential buy here pay here customers that they can put their trust in their business. NIADA certification, which all cars at Auto Now have, shows that cars have gone through rigorous inspection, have easy-to-obtain and read history reports, and the dealership itself is trustworthy.

4. Buy Here Pay Here Dealerships Offer Financing to Everyone

If you’ve had issues getting a car in the past, you’ll be able to get a vehicle at a buy here pay here lot. They merely require a base salary of $1200/month after taxes, for the buyer to be 18 years of age, and for the buyer to have a valid driver’s license.

5. Terms Are Often Much More Flexible Than Traditional Lending

Traditional lending terms are usually pretty flat. You can expect that you’ll be paying off your loan for about ten years, you’ll probably be spending quite a bit of interest, and you’ll likely end up paying much more on a loan than you initially signed up for. With on the lot financing, you work with an actual person on terms that are right for you. This means that if you want to make the lowest payments possible, that is fine. If you’d like to pay a little more so your payment term is less, that is also fine.

6. You Can Make Low Down Payments On Cars at Buy Here Pay Here Establishments

Most dealerships want you to make a 20% down payment on the overall worth of your car, which is something many car buyers don’t have. At buy here pay here lots, you can make as big or as little a down payment as you want and the salesperson helping you with your finance will adjust your payments accordingly.

7. You Have a Great Choice of Used Cars At Buy Here Pay Here Lots

Brand dealerships usually only sell new versions of their brand or have a limited lot of used cars that were traded in as a down payment on one of their vehicles. Additionally, many non-buy here pay here lots have a limited inventory based on what they can find and what customers offer them. Buy here pay here lots, however, have a wide selection of vehicles from all different brands, which gives them a competitive advantage over other car sales lots.

8. Reputable Buy Here Pay Here Lots Have Warranties On Their Cars

Brand dealerships often have warranties, as they should, since you pay much more for a new car at one of their dealerships. But many used car dealerships sell their vehicles as is. Reputable buy here pay here lots, like Auto Now of Olathe, offer their customers warranties as a way of showing their customers they trust the reliability of their inventory.

9. Interest Rates are Comfortable Compared to Other Lending Options

If you have credit issues and manage to get a loan from a bank or credit union, these loans often come with hefty interest rates. Interest rates at buy here pay here lots are competitive and designed with the customer’s financial situation in mind.

10. Each Loan is Personalized to the Customer

As sad as it might seem, banks and credit unions see a lot of loan customers and don’t always treat them as individual cases. The credit system is also not forgiving in this way, as someone with a perfect payment record can still have issues with their credit score if they have too many loans or credit lines open or those credit lines have high balances. The person selling you your car at a buy here pay here dealership understands that each person they sell to is unique, and they strive to understand their economic situation accordingly.

Let us convince you of the advantages of using a buy here pay here dealership. If you live in Olathe, Kansas or the surrounding area, we can help you get your next car. Visit us at 1404 East Santa Fe Street or give us a call at (913) 764-8989. Alternately, you can get started today by applying online for a loan. We look forward to working with you!