Buy here Pay Here Dealerships
A buy here pay now car dealership can be found in almost any city. They allow people with a bad credit history to purchase a vehicle at the dealership and then pay for it on a weekly or monthly basis. The service does not require a credit check, and it is aimed at consumers with fair or no credit. More help?
This type of service has both good and bad uses. Good reasons include:
It is often possible to obtain a used car with bad credit and little or no down payment.
It will not impact your credit rating if it is being repaired.
Normaly, there is no interest but the price of the car will be higher than at an ordinary dealership. The good as well as the bad of this can’t be overstated.
It is possible to qualify for an auto loan if you have a job part time and are a full-time student.
Here are some reasons why you might want to avoid using a service such as this:
It is a sure way to pay more money for your car.
The credit bureaus do not receive any information from them, so you will still be denied credit even if your payments are made on time.
The dealerships will ask for a lot of personal information, since they do not check your credit. The dealerships will ask for your close relatives, friends and two to three contact numbers.
You can use this service if your car is urgently needed and you do not have the money to pay for it. If you wait and are willing to save a bit of cash, you’ll save money as well as build up credit.