It is directed to customers interested in what Buy Here Pay Here Atlanta dealerships have to offer.
What Are Buy Here Pay Here Atlanta Dealerships?
Buy Here Pay Here Atlanta Dealerships are dealers that finance used cars through Buy Here Pay Here financing. This means that the customers finance their car loans from none other than the dealers themselves. This way no outside lenders take part in financing the vehicles. This helps many customers get easier car financing approvals because the dealers choose to not check for credit scores. So while the traditional way is to have the banks run your credit score to see whether they should approve or decline customers, the Buy Here Pay Here Atlanta Dealerships do not base their approval on the customers’ credit scores.
Instead, they look for how much do the customers make. This can be in actual job pay or other reliable sources of income. Car buyers are asked to prove their income and based on the income, the customers are approved for loan amounts that the dealers see fit for the customers’ abilities to pay back on time.
How About Down Payments to the Buy Here Pay Here Atlanta Dealerships?
While the amounts of down payment that the customers have to bring varies, there are some basic rules. First, if the customers are approved for a certain loan amount, they need to buy vehicles within that amount limit. If they choose to buy vehicles that are more expensive than this allowed limit, then the money difference would be expected as part of the down payment, whether that is little or a lot. Second, if the dealers are not running any specials, then even if customers are within their allowed loan amount, the dealers would often ask for a small down payment to ensure that the customers are serious about the car and know that it is an important investment. Third, even if the customers are within their allowed loan amount limit and the Buy Here Pay Here Atlanta dealerships are running zero-down incentives, the government usually requires that the entire sales tax be paid upfront. So usually car buyers are asked to have the taxes as well as the registration fees ready to take the vehicles home.
Applying For Financing At The Buy Here Pay Here Atlanta Dealerships
With the fast-moving pace of today’s world, the Buy Here Pay Here Atlanta Dealerships now accept online applications. By filling out an online form, customers can have the dealers contact them with their pre-approved loan even before they get out of their homes. This saves time and energy, for both the car shoppers and the car dealers.
What Happens At the Buy Here Pay Here Atlanta Dealerships?
With traditional dealers, customers try out the vehicles and once they choose a vehicle, they sit with the financial representatives to discuss how to pay for it. Many car buyers find this difficult as they waste so much time on testing vehicles and then find that the lenders do not want to give them financing. Usually the problem arise because the customers’ credit scores are not good enough for the lenders to approve. On the other hand, Buy Here Pay Here Atlanta dealerships work in reverse to save time and energy. The customers are first given their pre-approved loan amount from their online application and based on that, they only try out the vehicles that they can be approved for. This way there is no time wasted on dealers that customers are to be turned down from.
Car buyers are asked to bring in their documents. These may include the following: drivers’ licence, proof of income, utility bill for proof of residency. Dealers do not exactly know how reliable the customers are since they do not ask for credit scores so some dealers might ask for additional references and bank statements as they see fit based on the risk that they are taking with customers.
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