5 Things You Should Know About Buy Here Pay Here Car Dealerships
Various opinions float around in the market about a typical buy here pay here car dealership in Spartanburg. While some of them are helpful, most are unfortunately misleading. When people talk about BHPH dealerships, the focus is majorly on the high interest rates of bad credit financing but we are so much more than just that. To set the record right, we list 5 things you should know about buy here pay here dealerships that are rarely spoken about. Sure, some unscrupulous dealers tarnish the industry’s name but the reputed ones like Family Auto uphold all of these qualities.
1. Quality of used cars assured
A buy here pay here in Spartanburg, SC is first a used car dealership and then an auto financing business. The latter runs because of the former. If we do not provide you with quality used cars, you would not want to buy a car from us, and the question of auto financing does not arise. This way, both our business wings will suffer. Hence, if you want the quality of used cars assured, shop from BHPH dealers. Quality is necessary to keep the business alive.
2. Auto financing is really easy
Being a private player, a buy here pay here used car dealership enjoys certain degrees of autonomy. For instance, the Feds have no say over the amounts such dealerships can hand out as loans, unlike banks. And they can take down payments in any form, like the trade-in offer available at Family Auto of Spartanburg. This makes auto financing easy for you. There is hardly any scope for your loan to get refused and you can flex the financing as per your convenience.
3. Interest rates are decided by the market
Everyone knows that if you purchase a buy here pay here used car in Spartanburg, you will have to pay higher interest rates for the auto loan as compared to banks. But within the buy here pay here industry, there is competition and dealerships fight each other to attract customers by offering lower interest rates as compared to each other. So, the opinion that BHPH dealerships demand outrageous rates is a total myth. Just like the price of any other commodity in a capitalist market, the interest rates are hinged on competition as well.
4. Impressive benefits
Given the interest rates, buy here pay here dealerships often have to work harder to get customers. And this hard work takes the shape of exceptional benefits that are generally not available at other retail dealerships. Take Family Auto for example. You get a 2 years/36,000 miles warranty on any car you buy. We also give you $100 for every referral you send towards us. Additionally, you get insurance consultancy, a vast inventory of vehicles, trade-in offers, and much more.
5. Improve your credit score
The rarely spoken about benefit of a buy here pay here in Spartanburg, SC as not many dealerships offer the same. However, Family Auto is one of the few who helps you to improve your credit score after you have taken a bad credit auto loan. We report your timely monthly payments to the respective authorities. In turn, the authorities improve your creditworthiness because of your timely payments made to us. Not only do you enjoy an assured bad credit auto loan at Family Auto, but you also get to improve your score and future loan approval prospects.
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