Friday, August 22, 2014
Buy Here Pay Here Frequently Asked Questions
We know you need a car to get to work, drive your kids around and do the million other things that people have to get done in a day that are not within walking distance. Many times, people who are inquiring about our Buy Here Pay Here program are new to trying to get a car with challenged credit. They may have been told by a friend or family member that getting a vehicle loan is impossible without good credit. Eventually, someone tells them the only way they can purchase a vehicle is if they find a car dealership that offers “Buy Here Pay Here”. The large majority of customers that call our dealership looking to apply for our Buy Here Pay Here program are unaware that they are eligible for traditional sub-prime financing. Almost anyone, regardless of credit is eligible for special financing. Unless you are unable to verify your income, we can get you an auto loan through one of our sub-prime lending companies. Buy Here Pay Here is only for those who cannot verify income, or provide other types of verification for a regular special financing loan.
Since most of our Buy Here Pay Here customers are not familiar with the process, they have plenty of pre-conceived ideas about how auto financing works and we end up getting pretty much the same questions. Here are the most frequently asked questions about the Buy Here Pay Here program…
How much do I need for a down payment?
That depends. Many of our customers don’t realize that our special financing programs are available to those with bad credit or no credit. Almost all of our customers are eligible for one of our guaranteed financing programs and for those programs, the down payment can be as low as $500.00 plus tax and tags. If you are not eligible for one of our bad credit financing programs, the down payment for a Buy Here Pay Here depends on the cost of the car. Most are half down.
How much per month?
We do our best to work with potential buyers and fit our payment into your budget. Payments are on average $250.00 per month. Some are higher and some are lower. It depends on how much of a car you want and the length of your loan.
Am I eligible? How do I apply?
The best way to find out which of our auto loan programs you are eligible for is to apply online on our website. We have slimmed the application down to only 8 required fields, and we guarantee a preliminary answer by email in ten minutes or less! By applying online, our salesmen are provided with all of your information and can find which financing programs you are eligible for before you even call or come in to the dealership. We also take applications over the phone and in person at our dealership.
Can I use my trade as a down payment?
Absolutely! We take trade-ins and buy cars through our Cash for Cars program, even if you’re not buying from us. Get an online appraisal of your trade on our website.