Facts About Buy Here Pay Here Dealerships

A Buy Here Pay Here is a used car dealership that finances their vehicles “in house” rather than through an outside bank or lender. While many consumers choose to finance through Buy Here Pay Here dealerships, there are some facts you should know about Buy Here Pay Here dealers before you make that choice. How you choose to finance a vehicle can affect your finances for years to come.

A buy here pay here will not offer you better options.

Buying through a Buy Here Pay Here means you accept their in-house financing, even if your credit is established enough for better options. It’s best to talk to a professional sales consultant at a dealership that works with a variety of lenders. We can help you figure out what all your options are for buying a vehicle because we want you to get the best terms possible. We want to earn your business over the years by helping you improve your credit situation.

A buy here pay here may not report to credit bureaus.

It’s important to know that some Buy Here Pay Here Dealers do not report your car payments to the large credit bureaus. What that means is that even after paying off your car, your credit may be in the same shape it was before. This makes it likely the customer will buy from them again, since their credit situation will be the same . Building your credit during the life of your car loan is important. Getting a loan through dealerships who finance through a outside lenders means that your timely payments will improve your credit rating over time. This will help you get better financing terms for your next car.A buy here pay here may not be your only option.

Chandler Chevrolet offers guaranteed credit loans to help build your credit and get you into a reliable car. This type of loan normally requires a down payment or a trade-in (or combination of both), and a minimum income. The larger the down payment, the more options you will have for a vehicle. The professional sales staff at Chandler Chevrolet will help you evaluate your credit, work with you to get the best terms possible, and answer all your questions during the process. A guaranteed credit loan can help build your credit so you will have more financing options in the future.Ask about our Guaranteed Credit Program.

Before you go to a Buy Here Pay Here, ask us about our Guaranteed Credit program. Our experienced Finance Department will explain everything you need to know about buying your first, or your next vehicle. We are conveniently located in Madison, Indiana near Louisville and Cincinnati. Call us today and ask for our sales department, or securely apply for financing here.

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