Having a car nowadays is, for most people, a need. It elevates considerably your comfort at every time you need to go a place, while it can also be a valuable tool for work if you know how to make the most out of it.If you are looking to buy a pre-owned vehicle at a car dealership for bad credit or no credit, here you have an excellent guide about the details you should know to make sure the operation is completed successfully.
Keep in mind that here at JB Euro Service we take pride in providing the best services for European cars in our area, if you buy a vehicle form a BHPC you will receive top service and make it look like new.
What is a “Buy Here Pay Here car dealership”?
Commonly shortened to BHPH, the Buy Here Pay Here dealerships are used car lots that offer on-site financing, making them the most suitable option for people with bad credit or not credit at all. Nonetheless, some people with good credit may also prefer BHPH dealerships because of the great deals offered in change of a pre-owned vehicle in optimal conditions.
But before you decide to buy a vehicle at any of these dealerships it’s good to ask what the real advantages of choosing a Buy Here Pay Here car dealership are and why do some people prefer this option over the financing option for bad credit or no credit? We’ll check some of the pros and cons of selecting the Buy Here Pay Here car dealership option.
Buy Here Pay Here Pros
A quick and simple process
BHPH car dealerships make the entire acquisition process easier and smoother for the people interested in it. BHPH dealers tend to make the entire process very smooth by having all vehicles connected to a database.
Trade-In Deals
If you want to change your vehicle, you can go to a BHPH car dealership and trade it. You can simply trade an older vehicle for a newer one with a BHPH car dealership which will save you a lot of time and effort from having to sell it, looking for a buyer and reach an agreement.
In-House Financing means “payment plans”
When you choose BHPH you are not only purchasing a car but also setting up loan payments in only one transaction. You can totally forget about going to the bank to get a loan and having to wait for approval, you can do both things at the same time at the dealership. These payment plans are usually offered in several different means of payment, from weekly payments to monthly payments.
Buy Here Pay Here car dealerships are also the only way to get financing for a car even if you are in bankruptcy or at least the only working with a professional agency dedicated to buying and selling cars.
48-Hour Return Policy
People who buy their vehicles from a private seller lose their chance to return the said vehicle if anything happens or they determine they are not satisfied with their purchase. When you buy a car from a Buy Here Pay Here car dealership you receive a short return period, usually for 2 days, and you can test your vehicle during this time. This option gives you the opportunity to compare different cars and make sure you’re entirely happy with your selection.
Only certified pre-owned vehicles
All vehicles sold at a Buy Here Pay Here car dealership are certified pre-owned cars that have to go through a thorough inspection and completing any important repairs that the vehicle may need. A BHCP dealership will sell you a vehicle that is like completely new.
Reconditioning vehicles meticulously is a need in order to keep them as viable options in the market.
Now that we have analysed the pros of buying a pre-owned vehicle, we’ll check some of the limitations of working with these dealerships.
Buy Here Pay Here Cons
Hidden Fees
It’s important to read the contract very well, some Buy Here Pay Here car dealerships are very upfront, but some others don’t explain well in the contract what you need to know. Pay a lot of attention to these aspects before you sign the contract:
- All delivery fees.
- That the price in the contract matches the price you agreed to pay.
- Some administration and handling fees need to be taken into account.
- Make sure you know the interest rates you have to manage.
Ask the Buy Here Pay Here car dealership any little detail that you’re not very clear about and ask for help if you aren’t sure about what you’re signing.
Some BHPH dealerships have too high interest rates
All Buy Here Pay Here car dealerships are risking themselves in some sort of way by financing someone with bad credit, no credit or in bankruptcy so interest rates tend to be a bit higher than other lenders’ offers. However, some options in the market offer low rates up 15% to qualified buyers and more.
It’s necessary to evaluate all those aspects and how they will affect the rates the dealership will charge you. It’s important to read the contract before signing it, you want to make sure you know the exact terms and agreements.
Limited Inventory
Most Buy Here Pay Here car dealerships don’t have enough options in their facilities, however, they usually have a lot of models from different brands. Although BHPH lots carry a lot of different makes and models, you are restricted to what they have available in their inventory. Shop online inventories and call the location before making the trip.
Make the most out of a pre-owned vehicle by taking it to a place where it can receive excellent service and ensure your car is working at top potential. Here at JB Euro Service you will enjoy top service at a very competitive price. Call us now and receive more information about our services.