Are you in the market for a car and struggling to get approved for financing? If so, you might want to consider the option of buying from a buy here pay here dealership. Decatur GA is home to several of these dealerships, which offer financing options that cater to those with bad credit or no credit.

What is a Buy Here Pay Here Dealership?

A buy here pay here dealership is a type of dealership that not only sells cars but also provides financing for those who cannot get approved for traditional financing. These dealerships are also known as in-house financing dealerships because they finance the cars themselves instead of relying on a third-party lender.

Buy here pay here dealerships are particularly attractive to those who have bad credit, no credit, or a history of bankruptcy. These dealerships are more willing to work with customers who have less-than-stellar credit scores.

How Does Buy Here Pay Here Financing Work?

When you purchase a car from a buy here pay here dealership, you will typically make a down payment and then make weekly or bi-weekly payments directly to the dealership. The interest rates on these loans are often higher than traditional loans, but they are designed to be affordable for those who have less-than-stellar credit scores.

The dealership will also report your payments to the credit bureaus, which can help improve your credit score over time. This is a great benefit for those who are looking to rebuild their credit after a bankruptcy or other financial setback.

What are the Benefits of Buy Here Pay Here Financing?

The biggest benefit of buy here pay here financing is that it is accessible to those who have bad credit or no credit. These dealerships are more willing to work with customers who have less-than-stellar credit scores, which means that you have a better chance of getting approved for financing.

Another benefit of buy here pay here financing is that it can help improve your credit score over time. By making on-time payments, you can demonstrate to the credit bureaus that you are a responsible borrower.

What are the Drawbacks of Buy Here Pay Here Financing?

The biggest drawback of buy here pay here financing is that the interest rates are often higher than traditional loans. This is because the dealership is taking on more risk by financing the car themselves.

Another drawback of buy here pay here financing is that the selection of cars may be limited. These dealerships typically sell older, higher-mileage cars that are more affordable for those with less-than-stellar credit scores.

How to Choose a Buy Here Pay Here Dealership in Decatur GA

If you are in the market for a car and are considering buy here pay here financing, it is important to choose the right dealership. Here are some tips to help you choose the right dealership:

• Research the dealership online to read reviews from other customers
• Check the dealership’s Better Business Bureau rating
• Visit the dealership in person to see the cars and meet the staff
• Ask about the financing terms and interest rates
• Ask about the dealership’s policy on late payments and repossession

Conclusion

Buy here pay here dealerships can be a great option for those who have bad credit or no credit. These dealerships offer financing options that cater to those who are struggling to get approved for traditional financing. However, it is important to choose the right dealership and understand the terms of the financing before making a purchase.