The process of buying your next car can be difficult and frustrating or it can be quick and easy. Your experience making a car purchase will depend primarily on the dealership you choose. A little preparation now will help you choose a buy here pay here dealership that meets your needs. There are five major things you should consider when choosing a buy here pay here dealership.
1. Provides in-house financing
The first question you need to ask before you decide on a car dealership is, ‘Do you offer in-house financing?’ In-house financing means that the financing for your car comes from the dealership. This cuts out the need to find a bank or credit union that will approve a loan. It also gives the dealership flexibility in determining who qualifies for financing. Many banks and credit unions will not provide financing if you have a credit score below a certain number. Car dealerships that offer in-house financing can look at factors other than your credit to make a financing decision. This is an important factor to consider if you have a low credit score. The dealership can use your job status and income amount to get you qualified for a car loan.
2. Offers a warranty
Getting a car can be one of the biggest expenses in your life. Buying used is often the best option if you are looking for affordability. However, many people hesitate to buy used out of fear. What if there is something wrong with the car? What happens if it breaks down as soon as you drive off the lot? These are valid questions to ask. As you look at different buy here pay here dealerships, be sure and choose one that offers a warranty. A warranty can provide you with the peace of mind you need to move forward with your car purchase.
3. Gives buyer perks
Some car dealerships offer perks to customers who make a purchase. For example, AutoSmart will provide you with free oil changes for the life of your loan. You can get important maintenance completed on your vehicle without worrying about an added cost. A buyer perk like this is a way for a car dealership to take care of customers even after they leave the lot.
4. Reports on-time payments to credit bureaus
A buy here pay here car dealership can help customers with low credit scores get financing. And, the best buy here pay here dealerships can also help customers improve their credit scores. If you want to improve your credit score, make sure the buy here pay here dealer you choose reports on-time payments to credit bureaus. When on-time payments are reported it will help you improve your credit score over time.
5. Has an extensive inventory
Be sure and consider the inventory of the buy here pay here lot you choose. Choose a dealership with an extensive inventory. A large inventory will maximize your chances of finding the car that fits your needs, wants, and budget.
This checklist will help you get started on the process of choosing a buy here pay here dealership that fits your needs. Getting the answers to these questions before you spend time at a dealership will save you time and frustration. Instead of driving from dealership to dealership looking for the one that offers all of the elements you need, you can start at the one that meets all of the requirements on this checklist.