Buy Here Pay Here Car Lots - Why car shoppers choose them over traditional used car dealerships?

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May 12, 2014 - PRLog -- May 12, 2014 - Website has added new video titled Buy Here Pay Here Car Lots at: .

The first thing that should come to mind when customers do not have the cash needed to buy cars, is how to get decent financing.  If the customers’ credit scores are high, then they really do not have much problems.  But if they have issues with their credit scores, then they need to find alternatives so they turn to Buy Here Pay Here Car Lots.

Buy Here Pay Here Car Lots can be found all over the country. Many car buyers love them and others, not so much.  To be able to understand these in house financing dealerships, let us look at the pros and cons of such used car dealers.

The main advantage of such dealerships is that they approve car buyers for direct financing without asking for credit scores. Some might ask for credit checks only to look for specific things like a recent car repossession, but they do not ask for credit score numbers.  Of course, this is very attractive to car buyers who suffer from low credit scores.  Traditional car dealers refuse to finance people with low credit scores so these customers turn to Buy Here Pay Here Car Lots as they guarantee to them that their credit scores would not matter.

The reason they can do this is because of the nature of how they finance. Instead of using outside lenders as third-parties in the loan process, they use their own money to approve car buyers for financing.  This way, they get to decide what are the acceptable criteria for financial approval and not rely on lenders that would often block the sale from going through.  Customers need to remember that since these dealers do not rely on credit scores, they need alternatives to trust the customers’ abilities in paying back the loan.  This is usually assessed by a combination of the income and the down payment amount that each customer has.  If the customers have high incomes or high down payments available, then they get to choose more expensive vehicles as they would be granted higher loan amounts and it is expected that they would be able to make payments on time on the remaining balances of the loans granted.

The downside of this is that if the car buyers want more expensive vehicles and do not have good down payments ready, then they would be told that they are not approved for those vehicles but would have to buy cheaper cars.  So while all credit scores are accepted, not everyone gets the same loan limit.

Another reason that some car buyers can be displeased with some Buy Here Pay Here Car Lots is that some dealers only have low grade vehicles.  While many locations get their vehicles from rental companies or from trade-ins from other customers, some locations only get their cars from auctions which would mean that lots of these vehicles were totalled before or have had major accidents that were previously fixed by doing major mechanical works on them.  This is why customers need to check the vehicles well before they sign any papers.

These inspection should include checking that all the VIN# stickers match, there can be 11 in total. If they are missing, this can be a sign that the vehicle has had major body replacement due to an accident. In addition, buyers need to check to see that the three dash lights that must come on when the vehicle is turned on, come on and then turn off and are working, they are: check engine light, abs light, and the airbag lights. If they do not come on when you start the vehicles, it would indicate that the vehicles are tampered with and safety is at risk.

So feel free to check out their page dedicated to Used Cars Buy Here Pay Here Car Lots customers located at or check the newly added video directly at

Buy here pay here car lots
Source:Buy here pay here
Tags:Buy Here Pay Here, In House Financing, Buy Pay Here, Car Dealerships, In House Car Financing
Industry:Automotive, Finance
Location:United States
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