Why Those with Poor Credit Should Consider Buy Here-Pay Here Dealerships

November 17th, 2017 by

It can be difficult for prospective buyers with poor credit to secure financing on a car. Few dealerships or financial institutions are willing to take the risk, providing these individuals with few options.

While many consumers may buy into the negative stigma that accompanies the Buy Here-Pay Here industry, these dealerships are actually perfectly logical targets for consumers in that financial situation. Ultimately, these businesses are willing to offer financing to their customers, an opportunity that few dealerships are willing to provide.

While you’re considering your options, we’ve provided several factors that you should keep in mind. Soon enough, you’ll find that these dealerships actually do provide you with the best opportunity to purchase a ride. We’re confident that before long, you’ll be itching to visit a Buy Here Pay Here dealership in Columbus, Ohio


Keep in Mind: The Financing Opportunity

Are you struggling with poor credit? In that situation, we’re sure you’re familiar with how difficult it can be to secure financing on a major purchase like a car. Few financial institutions are willing to take a risk on you, providing you with seemingly few opportunities. In this case, you’re forced to rely on public transportation or a bike, or you’ll have to give up working altogether. None of these scenarios are ideal.

However, Buy Here-Pay Here dealerships provide a unique opportunity to these consumers. These businesses are willing to both sell and finance your vehicle, leading to a unique relationship between the buyer and seller. Ultimately, if your credit is a detriment, these Buy Here-Pay Here dealerships will be the only businesses that are willing to take the risk, essentially making them a necessity.

There’s always been a negative stigma that accompanies the Buy Here-Pay Here industry. Most consumers assume that these dealerships will accompany their vehicles will ludicrously high interest rates. While it may technically provide an opportunity for these out-of-luck buyers to actually purchase a car, consumers believe this route will end up having negative financial repercussions down the road.

While these dealerships do tend to rely on high interest rates to make money, the accompanying fees aren’t all that out of hand. For starters, you’ll have to consider the risk these dealerships are taking, and the financing rates are essentially in place to provide them with some protections. Fortunately, these rates should be unrealistic (as usually implied), and the impending agreement will surely benefit the customer.

While we’re on the topic of preconceived notions, it’s important to remember that most states regulate the entire industry. Ultimately, they’ve required that these dealerships don’t enforce any drastic penalties for missed payments. Sure, if you fail to pay on time, there is a chance that the dealership will repossess your ride. However, engine immobilizers are a thing of the past, so these individuals shouldn’t have to worry about their safety if they’re a day late with their payment.


Keep in Mind: A Not-Limited Selection

These dealerships are promising to finance your vehicle, but that doesn’t mean they’re going to force you into an aging beater. Rather, most dealerships have a vast inventory to choose from, meaning their customers will have plenty of options that they can pursue. While a new car might not make a whole lot of sense financially, these Buy Here-Pay Here lots should still be stocked with a number of capable used rides. In other words, if you are forced to pursue financing from a dealership, don’t assume that you’re going to end up with a lackluster ride.


Keep in Mind: Access to the Vehicle History Report

Still worried about the quality of the vehicles that are sitting on a Buy Here-Pay Here dealership’s lot? Well, nowadays, it’s incredibly easy to get information on a targeted used ride, and there’s a good chance that the dealership will automatically provide you with a CARFAX vehicle history report when you express interest on a particular target. Therefore, if there are any worrisome mechanical issues, you can anticipate them ahead of time.

In the event that you do run into any issues with your recently-purchased vehicle, there’s a good chance that the dealership also provided their customers with a warranty. Ultimately, the dealerships are focused on the financing incentives, and there’s a good chance the consumer won’t fulfill their agreement if the car isn’t working. Therefore, most buyers can simply bring their vehicle to a dealership and have it completely fixed up by any of the in-house technicians.


Keep in Mind: Opportunity to Sell

These dealerships are already bending over backward to accommodate their customers. Therefore, it shouldn’t be all that surprising that the majority of these businesses also provide customers with the unique chance to sell their current ride. Usually, the business is willing to consider your sale, financing, and purchase all in the same transaction, meaning you can expedite the whole process and still expect the best possible deal.


Keep in Mind: The Ability to Build Your Credit


Perhaps most importantly, Buy Here-Pay Here dealerships provide their customers with an opportunity to slowly improve their credit score over time. By successfully completing your payments to the business, you’ll find that your standing slowly grows. By the time you’ve finished completing your payments on the car, your credit will be in good enough standing that you shouldn’t have any issues securing financing.



At the end of the day, Buy Here-Pay Here dealerships provide their customers with opportunities that few similar businesses are willing to offer. Customers with poor credit scores are seemingly out of options when it comes to purchasing a car. However, thanks to this specific industry, these individuals now have an opportunity to actually acquire this much-needed transportation. Sure, you’ll have to pay a bit more in the long run because of the accompanying interest fees, but that shouldn’t be enough to dissuade you from pursuing a car from a Buy Here-Pay Here dealership. After all, at the end of the day, you may not have many other choices.