Car Lot Finance

Buy Here Pay Here Charlotte NC


There are close to 220 Buy Here Pay Here Dealers in the greater Charlotte market and they come in many shapes and sizes. 

Now, we consider that the Greater Charlotte Market actually covers from Hickory in North, through to Morganton in the East, Monroe in the West and Lancaster SC to the south. Within this area we have a very wide variety of dealer sizes, from mom and pop dealers with 3 or 4 vehicles on their Buy Here Pay Here Lot, all the way through to companies like Crown Auto Sales or Ride Now Motors, who although they are still locally owned, have 4 dealerships. 

No matter what size the dealerhip, all Buy Here Pay Here dealers are going to be looking for the same things from their potential customers:

How long you have been in your current job

How much you earn

How long you have lived at your current address

Current commitments 

You will be asked to prove your income and current commitments before the dealer approves you for your new vehicle. These dealers rarely go to an outside institution to try to finance one of their vehicles and as a result, you will be dealing directly with a local company who is willing to trust you with one of their cars. The payments you make will be directly to the dealer and will pay down the loan which you have with them. 

Shopping around will often result in you finding not only the right vehicle for your needs, but also the right dealer which you find yourself comfortable with. With so many Buy Here Pay Here Dealers in the Charlotte Market, this is something which is easily undertaken. 

Using to find a vehicle which you are interested in, you know that when you contact the dealer that they are already in a position to be able to help you get financed and drive off the lot. With that said, there may well be an adjustment to how much of a down payment they are looking for, or they may well suggest to you that you look at a slightly cheaper vehicle to ensure that the payments are within your monthly budget. 

Buy Here Pay Here Dealers take on a considerable amount of risk by dealing with your financing directly. As a result, these dealers are going to charge a higher interest rate than a regular bank. After all, about one third of the vehicles which are sold from a BHPH dealership will be repossesed by the dealership. Often this will result in a financial loss for the dealer and they have to protect themselves and their businesses. A typical interest rate from a Buy Here Pay Here Dealership is from 18% -29% in the states of North and South Carolina. 

The market has changed considerably since the financial collapse back in 2008. This has seen the market increase as a result of so many consumers credit scores dropping, by no fault of their own. Thankfully, many dealers still work under the premise that 'Your Job is Your Credit' and are willing to work with you. 

Please, don't just go to any Buy Here Pay Here Charlotte dealer, shop to make sure you are getting the best deal first. Start searching for your next vehicle here.