If you’re looking for a used car dealerships buy here pay here, but don’t want to spend a fortune, you might consider buying here pay here dealerships. These types of dealerships typically have small, privately owned lots and advertise used cars for sale for as little as $2,000 down. These dealerships may also offer in-house financing, which allows you to save money on your next car.
Find Out What You Can Afford Before Signing On The Dotted Line
Although buy here pay here car dealerships can be a convenient option, some may not report your payment history to the major credit bureaus. Check with the dealership to be sure. If they do not, you may end up losing out on a chance to improve your credit score. Dealers may also try to sell you additional products, such as a warranty or GAP insurance policy. Depending on the dealership, these additional fees can increase your monthly payment, so it is important to find out what you can afford before signing on the dotted line.
If you have poor credit, you may be wondering how to finance a used car. Most dealerships pass your information on to a network of lenders. If you’re approved, you make regular payments to the lender. You may be asked for income and residence proof, and you may also need a down payment.