Car Lot Finance

Buy Here Pay Here

There are many benefits to going to a buy here pay here car dealership, especially if you are looking at the used cars Charlotte NC area inventory. Usually, the process of buying a car is something is one of the larger stress filled times in one’s life; mainly because it deals with a large expenditure of finances and is a large financial decision that can be affecting your family for a great many months. Additionally, many used car dealerships will not offer credit to someone who does not have a good credit score, making getting a car incredibly difficult.

If you are someone who has bad credit, or has not yet established having a good line of credit, then a buy here pay here used car dealer is one of the best places for you. Most dealerships work with public banks to offer financing, meaning that they do not care about your individual circumstances, but only the credit score and your ability to repay the loan. For someone trying to fix their credit status or begin it, this can be a large obstacle to getting a car and getting back on the pathway to financial independence.

It is a statement of fact that you cannot, in many cases, succeed without having a car. Most other dealerships don’t care about that; however, a buy here pay here dealership does. Offering what is known as ‘secondary financing’, these types of dealerships give the loan directly, instead of going to an outside bank source. This means that the officers of the dealership can choose to waive the requirements of the credit score, because it is their money to loan out. While, of course, this might result in a higher interest rate, getting the loan and getting the car is always better than having to suffer financial stagnation by not having the mobility needed to get to a place of employment.

A further benefit of a buy here pay here location is the ability to accept payment in a variety of fashions. While most banks require a payment to be via check or money order, which can get lost or otherwise interrupted, these type of ‘brick and mortar’ stores can accept payment via cash, money order, check, credit card, etc.; furthermore, by making the payment in person, you can ensure that your payments are on time and never get lost – a wonderful benefit to your credit score.

Car Lot Finance has been working in the Charlotte, NC, area for quite some time – their website allows for car dealerships to advertise the various types of buy here pay here options for their inventory.