You Can Get Excellent Service Buy Here Pay Here Car Lots
Buy Here Pay Here car lots are regaining their popularity and positive reputation like they had back in the 70s when the industry began. This method of financing cropped up when the United States suffered from a major economic crisis in the aforementioned decade.
Here, the actual car dealers will also be the ones to extend the car loan to those who need it. This is quite advantageous since the clients would not have to go to banks or credit unions and ‘beg’ for auto loans anymore. But in the 80s, news spread that BHPH companies are taking advantage of people with no or poor credit.
This seems to be changing nowadays. The economy today has overcome the most recent global recession and it is steadily rising. A lot of individuals are rebuilding their credit as well so, essentially, these Buy Here Pay Here car lots should be out of business.
But according to statistics on automobile sales, BHPH dealerships are attracting a lot of clients evidenced by an increase in the number of buyers this year compared to the last. Why? Read on:
Convenience Buy Here Pay Here Car Lots
One of the biggest advantages of BHPH companies is that it is so convenient. You do not have to go back and forth different offices just to file documents and convince people how financially credible you are.
Just visit one of those Buy Here Pay Here car lots, talk to them about your situation and you’ll get approved – right there and then.
More-Than-Just Serviceable Vehicles
Some people think that BHPH dealerships only offer cars which are 10 years and older. That is a huge misconception. You will find vehicles in their lot which are almost brand new; it still has plastic coverings over the seats and that amazing new car smell. And yes, with enough negotiating powers, you might get that.
Some of the most popular companies in the country now even offer brand new cars to those who might be interested.
Great Warranties Offered
Second hand vehicles don’t often have warranties anymore. However, Buy Here Pay Here car lots offer several add-ons like maintenance and repair warranties. Ask your dealer what specific extras they can include.
Fair insurance Rates
It has been said several times that BHPH dealerships offer as much as 25% interest rate, especially to those who have really low credit scores. But that is quite impossible because this industry is regulated by law to be fair.
A lot of these companies have websites online. It would be great if you check those first so you’ll know exactly how much interest they will offer. Comparing different rates before actually choosing one to approach can help you find the deal which will suit your budget and your needs.
It is also good to note that car buyers now understand that they do have a choice – even if they have bad credit rating. Armed with that fact and a bit of research as well, more and more car buyers have more confidence when they go to Buy Here Pay Here car lots and find the vehicle they need.