Some car buyers are aware of what a Buy Here Pay Here car dealer is, and some aren’t. Well, take a couple minutes to read this page a our writers at buyherepayherefortlauderdale.com will try to help you understand. Typically when a person is shopping for a car, and not planning on paying for the new or used car in full, with their own cash, they will need to acquire some sort of car loan auto financing. The journey usually begins with going from bank to bank shopping around for a car loan. The first obstacle to overcome is getting approved for a loan. The problem is, most banks prefer to approve prospective car buyers that have established credit. Unfortunately, after the past few years of this economy. most of us have taken a hit in reference to our credit score. In addition to crossing your fingers in hopes of getting approved, you also have to fill out lengthy application and wait for the long approval process that banks put you through which may take days. So, going the bank route you could easily find yourself going from bank to bank, filling out several applications, waiting days without knowing whether or not you’ve been approved.
Advantage of a BHPH car dealership
Now, we will discuss how a Buy Here Pay Here Car Dealer works. BHPH Car Dealers (Like our West Palm Beach Location)are companies that are in business not only to help consumers with the purchase of a new/ or used car, but also help them achieve the goal of obtaining a car loan. The way it works is, these dealerships have a large inventory of vehicles to chose from, and once you’ve picked the one you want, they will provide you with the in-house financing (given that you have been approved) for the vehicle. Then when the auto loan has been secured, the payments will be made from you directly to the BHPH dealership, so, there will be no outside bank involvement. The good part about it is, not only are these BHPH car dealerships great for a consumer with good credit, but they also specialize in helping customers with bad credit or no credit at all. So if your worried that you won’t be approved for a car loan, worry not, chances are, you have a much better chance of getting approved at a Buy Here Pay Here Car Dealership than a bank or financial institute.