If you have bad credit and are looking for a car dealership that can help you, read on. We’ve compiled a list of dealerships that can work with you, even if your credit isn’t perfect.
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People with bad credit often have a hard time getting approved for a loan from a bank or credit union. That’s why many of them turn to car dealerships that specialize in helping people with bad credit.
These dealerships are sometimes called “buy here, pay here” or “BHPH” dealerships. They typically finance the cars they sell themselves, which means they’re not as picky about approving loans as traditional lenders are.
If you’re thinking about buying a car from a BHPH dealership, there are a few things you should know first. Read on to learn more about how BHPH dealerships work and what to expect during the car-buying process.
Bad Credit Car Dealerships
If you have bad credit, you might think that you can’t get a car from a dealership. But there are actually a few dealerships that can help you get a car, even if your credit is less than perfect. Here are a few of the best bad credit car dealerships.
Many car dealerships offer in-house financing, which means they provide auto loans to customers directly. This can be a good option if you have bad credit and are having trouble getting approved for a loan from a bank or credit union.
The downside of in-house financing is that the interest rates are usually higher than what you would get from a traditional lender. And, depending on the dealership, you may be required to make a large down payment.
If you’re considering in-house financing, be sure to shop around and compare offers from different dealerships. It’s also a good idea to get pre-approved for a loan from a bank or credit union before you start shopping. That way, you’ll have a better idea of how much you can afford to spend on a car.
Buy Here Pay Here
If you’re shopping for a car and have bad credit, you might feel like your options are limited. But there are plenty of dealerships that specialize in helping people with less-than-perfect credit get behind the wheel. These dealerships are commonly known as “Buy Here Pay Here” dealerships, and they can help you finance a car even if your credit isn’t great.
If you’re looking for a Buy Here Pay Here dealership, there are a few things you should keep in mind. First, these dealerships typically have higher interest rates than other types of dealerships. This means you’ll end up paying more for your car in the long run. Second, Buy Here Pay Here dealerships typically don’t have the same kind of selection as other dealerships. This means you might not be able to find the exact car you’re looking for.
If you’re willing to accept these drawbacks, a Buy Here Pay Here dealership can be a great option for getting into a new car. Just make sure you do your research and shop around to make sure you’re getting the best deal possible.
Most car dealerships have a special finance department that can help you if you have bad credit. These dealerships work with lenders who specialize in loans for people with bad credit, and they can often get you a loan even if your credit is not perfect.
If you are thinking about buying a car from a special finance dealership, there are a few things you should keep in mind. First of all, you will likely be required to make a down payment, and your interest rate will be higher than it would be if you had good credit. You should also expect to pay a higher price for the car, as special finance dealerships often charge more than regular dealerships.
Before you commit to anything, make sure you compare offers from several different special finance dealerships so that you can get the best deal possible. You can use an online lending network like CarFi to compare offers from multiple lenders at once, so you can be sure you are getting the best deal available.
In conclusion, there are a few select car dealerships that help people with bad credit. These dealerships are dedicated to getting you into the car you need and deserve, regardless of your credit score. By working with one of these dealerships, you can get the financing you need to get into a new or gently used car.