The Growth of Buy Here Pay Here near Indianapolis in 2018

June 29th, 2018 by

Tall Indianapolis buildings lit up and surrounding a monument
If you have bad credit, no credit, or a short credit history, getting an auto loan the traditional way can be complex. Many banks, credit unions, and third-party lenders are reluctant to approve auto loans for people with questionable credit, making it difficult to afford a car otherwise. There aren’t many people that can foot the bill for the entire cost of a car in cash, so how are people supposed to get a car if they can’t get approved for a loan? The answer may be a buy here pay here near Indianapolis.

Buy here pay here dealerships are expected to see exponential growth in 2018. Back in the first quarter of 2011, buy here pay here dealerships had cornered 9.5 percent of the market share in used car financing. By the third quarter of 2015, the market share of buy here pay here dealerships had dropped to about 6.2 percent. However, buy here pay here dealerships saw a rise in the market share since then, increasing to about 11.6 percent. Interestingly, it is a decrease in competition that has resulted in the rise of the buy here pay here dealership. During the Great Recession, many buy here pay here dealerships simply couldn’t thrive in the tough market conditions. The decrease in competition allowed remaining buy here pay here dealerships to grow and better address the needs of the customers.

There are many reasons why the growth of the buy here pay here industry in 2018 may benefit car buyers. If you would like to speak to someone about your options, visit your local buy here pay here near Indianapolis or beyond.

What is Buy Here Pay Here?

When a dealership advertises itself as buy here pay here, that simply means that the dealership does its financing in-house. In-house financing means that you don’t have to go to a bank, credit union, or third-party lender to get your auto loan. You’ll set up the loan with the dealership and make payments to the dealership, generally speaking. Buy here pay here dealerships are a one-stop shop for your car and your loan. This convenience takes part of the hassle out of financing your new vehicle.

Sometimes, dealerships won’t necessarily label themselves as being a buy here pay here dealership. More often, you’ll see dealerships with signs that say something like “we finance!” or will otherwise advertise their own financing departments. Any dealership with in-house financing qualifies as a buy here pay here dealership.

Getting your loan through a buy here pay here near Indianapolis is easy because the dealership wants to sell you a car. This means that the dealer will grant loans to people with no credit or poor credit. Usually, anyone with a verifiable address and proof of employment will be approved for an auto loan. However, being a risky investment usually means that you will be dealing with interest in the double digits–plan for 15 to 20 percent interest rates.

A person is sitting in the drivers seat of a car at a Buy Here Pay Here.

Benefits of Buy Here Pay Here near Indianapolis

Get a Car

Because few people can afford to pay for a car in cash and few institutions will lend money to people with a poor credit history, buy here pay here dealerships are often the only option for people with bad credit to get a quality car at an affordable price. Buying from an individual means that you can’t trade in your current vehicle and that you don’t have access to the vehicle’s complete history. With buy here pay here dealerships, you can get a certified pre-owned or even a new car while trading in your current vehicle towards the down payment. Additionally, many buy here pay here dealerships include the vehicle’s warranties or offer deals on maintenance that buying from an individual seller would not provide.

Build Credit

The biggest benefit to shopping at a buy here pay here dealership is the opportunity to build up your credit. Since most people are guaranteed to be approved for an auto loan regardless of credit history, you will be able to build credit with each on-time payment you make. Do your research because some dealerships require weekly payments, in-person payments, or a 20 percent down payment for the vehicle. Also, make sure that your dealership reports to the major credit bureaus so that your hard work making payments will pay off in the form of a good credit score.


Buy here pay here dealerships are more likely to take older or more worn-out cars for a trade-in than a traditional dealership. This means that you can easily trade in your older car for a newer model, using the trade-in value towards the cost of the down payment. The lenient trade-in policies make it easier for you to purchase a new vehicle.

The growth of the buy here pay here industry in 2018 will benefit you as a consumer in a lot of ways. The buy here pay here industry is customer-driven, meaning that there are many benefits to the consumer when shopping at a buy here pay here dealership. The industry had to adapt in order to survive, and you as a customer are reaping all of the benefits from those changes to market and the growth in the industry. Buy here pay here dealerships will approve most people for a car loan regardless of credit history. This will give you the opportunity to build your credit score. Buy here pay here dealerships also offer you all of the benefits of certified pre-owned or even new vehicles, including warranties, maintenance services, and lenient trade-in policies. All of this convenience is to make your life as easy as possible when purchasing a new vehicle from a buy here pay here near Indianapolis.

A salesperson is showing a couple around a Buy Here Pay Here.

Shopping for a Car in 2021

We first looked at taking advantage of Buy Here Pay Here financing to get the most out of your budget and credit history almost three and a half years ago. It’s hard not to look back at that and feel like things seemed a lot simpler then, even though it really wasn’t that long ago. We all know how difficult the last two years have been for everyone due to massive interruptions and daily life becoming far more complicated. No matter what your personal situation has been, the last couple of years have certainly disrupted some of your plans and the kind of experiences you’ve had when shopping for any major purchases.

First and foremost, the last two years have impacted a lot of people financially, often in complex and potentially destructive ways. Whether you have lost a loved one, find yourself with unexpected medical bills, you’ve lost work and income, or you simply feel uneasy and shaken by everything that’s been happening, we understand. We pride ourselves on being your local dealership – even though we’re one of the most successful dealers in the country, with a massive inventory of vehicles for you to choose from. At the end of the day, we’re a part of this community, and we still want everyone to succeed and have a great experience when shopping with us – no matter what’s going on in the world.

You are Not Alone

One of the keys to our approach to selling cars is the belief that everyone deserves to have a great vehicle that you can rely on. This is really at the heart of everything we do, and it’s why we work so hard to be able to help each of our customers figure out financing and find a fantastic vehicle. Whatever you have been through over the last couple of years, it’s important that you remember one thing: when you’re shopping for a car, you’re not alone. Choosing the right dealership means you have someone who will work closely with you to figure everything out.

Here at McCluskey Automotive, we’ve been through these last two years just like everyone else, and we’ve had to adjust, adapt, and roll with the punches too. So when you come to us and discuss what you’ve been through and what you’re looking for, we absolutely understand. We know how difficult this has been, and we work hard to make sure finding the right vehicle and figuring out financing is as easy as possible. That kind of personal touch has always been important, but we believe it’s now more vital than ever.

Financing is More Important than Ever

With all of the uncertainty, disruption, and financial difficulty so many people have been through over the last couple of years, figuring out the right financing to help you get the vehicle you want is more important than ever before. We understand this also means financing might be more stressful for you than ever before too – but it really doesn’t have to be that way. With a knowledgeable and experienced financial expert by your side, you’ll have the answers to all of your questions and a big-picture view of your options.

Figuring out how to pay for your vehicle is very important, but it doesn’t have to be a source of anxiety or worry. Just remember to take the process one step at a time: you can get started right now using our simple pre-approval tool on our website. This form only takes a few minutes to complete, the results will give you a good sense of what you can expect in terms of financing options, and it will have no effect on your credit score. We also have a number of other tools on our site, including a trade-in valuator, payment calculator, and much more to help you figure everything out.

Of course, you can always give us a call, contact us online, or come visit us to discuss your financial situation in person. Whatever method works best for you is available, and we’re happy to provide you with all of the information and answers you’re looking for. This might seem like a small thing, but taking the mystery and anxiety out of figuring out your finances can make it a lot easier to relax and enjoy your shopping experience.

A salesperson is helping a customer to finance at a Buy Here Pay Here.

Take Advantage of Our Huge Selection

A lot of dealerships out there brag about their inventory because your experience while shopping for a vehicle is always affected by what’s available to you. Oftentimes, however, even though they’re quick to talk about all the great cars they have, what you really find is just a couple of dozen vehicles for you to choose from. Here at McCluskey Automotive, however, we have a massive inventory of hundreds of different new and pre-owned cars, trucks, and SUVs.

No matter what you’re looking for, we can help you find it, and we’ll work with you to figure out the best vehicle for you and your family. With so many changes going on in the world, you might have some new considerations, worries, or needs for your next vehicle. Figuring all of these things out on your own can be tricky, so having one of our knowledgeable and friendly salespeople by your side to help you really does make a big difference.

Best of all, your options don’t stop with the amazing selection of vehicles that we have here at our dealership. With our patented Nationwide Search program, we have access to more than 250,000 vehicles across the country for you to choose from. So no matter what you’re looking for, we’ll work with you to help you find it and make sure you get just what you need.

Keep Your Vehicle in Great Shape

The last couple of years have really reinforced our commitment to long-term support and relationships with all of our customers. This is something we always strongly believed in as one of the cornerstones of what we do, but its importance has really been driven home over these last two years. It’s why we’re here to help you get the parts you need for your car in order to keep enjoying your vehicle for many years to come.

Routine maintenance might not be exciting or sexy, but it’s integral if you want to really get the most from your vehicle. When times are tough, and budgets are tight, a lot of people save money by working on their vehicles themselves – for people passionate about repairs and maintenance, this kind of work can be very rewarding and a lot of fun. Our factory parts department is here for you to help you figure out exactly which parts you need and to order them for you, so they arrive as quickly as possible.

Best of all, when you come to us looking for parts for your vehicle, you’re not just talking to a stranger who doesn’t know anything about you. If you bought your car from us, then we’re already familiar with it, and you’re working with someone who knows you and your vehicle. Those are the kinds of relationships we thrive on, and we’re always looking for our next opportunity to help you out with everything you need.

You Deserve a Better Shopping Experience

No matter what the last couple of years have brought to your life, it’s important to remember that you’ve got someone ready to help you out. Whether you’re looking for a brand-new vehicle, you’re struggling to figure out how to afford a pre-owned model, or you need to get some work done on your car, we’re here for you. Come visit us at McCluskey Automotive today to see how we can help you and how we’ve grown with you over the last couple of years. You deserve to have someone by your side to help you out and take some of the pressure off your shoulders while you’re shopping for a car.