Buy Here Pay Here dealerships have gotten a bad rap in the past because everyone has an opinion and they sure do love to share them! It’s easy to debunk these myths about Buy Here Pay Here dealers and shed light on the truth. Buy Here Pay Here dealers offer credit-challenged consumers the opportunity to finance a safe and reliable vehicle. In fact, these types of dealerships are taking care of car shoppers that most traditional dealerships turn away. Buy Here Pay Here dealers are truly an underappreciated business, and because of their work, many people have access to a basic necessity: a reliable car that allows them to drive to work and make a living. Let’s take a closer look and fact check a few myths about Buy Here Pay Here dealerships.
Myth 1: They Hurt Your Credit
Some might think doing business with a Buy Here Pay Here dealership could harm your credit score. Surprisingly, in-house financing with this type of dealership can do the exact opposite! When credit-challenged borrowers commit to an auto loan through a Buy Here Pay Here dealership, it can actually begin their journey toward credit repair. This process can also allow consumers with no credit history an opportunity to build credit from the ground up. As long as the Buy Here Pay Here dealer is reliable and reports monthly payments to the credit bureaus, every on-time payment made toward the car loan is a positive mark for your credit score. All in all, financing an auto loan at a Buy Here Pay Here dealer can improve your credit!
Myth 2: They All Require Big Down Payments
Contrary to popular belief, Buy Here Pay Here financing does not require a hefty down payment upfront. One of the biggest benefits of doing business with a Buy Here Pay Here dealership is their in-house financing. Unlike traditional dealerships, Buy Here Pay Here dealerships offer in-house financing, which means they are a one-stop-shop because they are the dealership and the bank in one place. Buy Here Pay Here dealerships are notorious for offering their customers affordable, low down payments to finance a new vehicle.
Myth 3: They Are Unreliable
Maybe you’ve heard that Buy Here Pay Here dealerships have a reputation for being unreliable, but this is simply false. Buy Here Pay Here dealers offer loans to individuals who usually would not be able to qualify for one at a traditional dealership. These types of dealerships believe in giving people a second chance. Most Buy Here Pay Here dealerships pride themselves on in-house financing, which means they can provide auto loans to all car shoppers. They are the farthest thing from unreliable because they are simply loaning their very own money to consumers who desperately need a car loan to drive. Trusted Buy Here Pay Here dealerships also offer customer perks such as car warranties and free oil changes to prove their commitment to their customer. Without a doubt, Buy Here Pay Here dealerships deserve more recognition than they receive because they are dependable and a huge help to consumers who might not be qualified to lend elsewhere.
At a Buy Here Pay Here dealership like AutoSmart, we believe all car shoppers should have the opportunity to own their journey. Our Buy Here Pay Here dealership offers in-house financing that helps credit-challenged consumers begin their journey toward improving their credit score. Surprisingly, Buy Here Pay Here dealers like AutoSmart do not require a large down payment either! As your trusted Buy Here Pay Here dealer, we are determined to help all of our customers finance a reliable vehicle today!