Buy Here Pay Here is essentially the same as "In House Financing" and is often relegated to people with bad credit
However that is not always the case, A family could have a debt ratio issue, or earn their income in a non-traditional way.
There are many other reasons that people would need to be financed by dealer "In-House" Programs
Perhaps they choose not to deal with major banks, or may have had poor experiences in the past.
Another reason would be the flexibility that SOME dealers offer:
The Rates aren't always 21.99% or higher, they can be just as competitive as regular banks, it depends on the dealer and you individual situation.
Having a good relationship with a Buy Here Pay Here Dealer is almost like having a relationship with a small banks years ago, they listen more, and dictate less.
Good luck with your decisions!
Take a look at what we include in our Craig's list advertising
Here is another way that Liberty stands apart from the rest
Many Smaller dealers are accustomed to putting everyone in the same category as though they were all "Credit Criminals" we have with years of experience and developed relationships learned that is not the case.
Some People acknowledge that they are going to pay higher rate, while others aren't aware until its way too late to do anything about it and are slammed into a vehicle by a slick commission paid car sales person
Ask About our Fist Time Buyers Programs with Rate from 4.99% with terms as long as 60 months.
Ask about our Middle the Road Credit Program, just hit a few bumps or on you way back up, we have rates from 8.99% with terms as long as 60 months
Rates and Terms are important for many reasons, well if you cant get a decent rate then you shouldn't go with a long term loan because the overall interest will be incredibly high.
If you have no choice because of mistakes made in the past, try to keep the amount financed under $10,000 and the term at 36 months or less with this type of structure the overall picture is not too bad, just make certain you make all of the payments on time, and along the way clean up some of your bad credit and hopefully with some work the next auto loan will be at a lower rate.
Why is Rate, Term and Payment, Very important for fist time buyers, or people on a budget, or for those who want to purchase something that finance more than $10,000?
With the right vehicle a first time buyer could be at $200 per month on a relatively newer vehicle with decent mileage, and we all know how much some younger people make these days and we also know how Insurance companies really take them for a ride when it comes to full coverage insurance.
A family that is getting a second vehicle and they already have allot of money going out, and they are in process of rebuilding their credit, and have decent job time, they may not be "credit criminals" and therefore they may deserve a break from the interest treadmill, a $11,000-$12,000 Newer Mini van or SUV with a decent interest rate and term may only cost them $280 a month, where conversely if they were grouped into the "Credit Criminal" batch that same vehicle would cost them $13,000-$14,000 at a higher rate over a shorter period of repayment with a much higher payment of perhaps $400-$450 a month.
Visit us at www.LibertyCarsAndTrucks.com , you may also Google us or check us out on the Arizona Better Business Bureaus Site, and see for yourself, I could write all day long, the proof is already out there, we have sold and financed over 10,000 vehicles, our customers come back to use for a reason, thank you for giving Liberty Cars and Trucks an opportunity.