Do Buy Here Pay Here Used Cars Return High Resale Values?
The business model of buy here pay here dealerships attract a lot of myths. And more often than not, those myths are closely fed by disreputable dealers that tarnish the industry as a whole. One such fluke belief that has consistently suspended in the air is that buy here pay here used cars do not return high resale values. As bad credit owners are given the opportunity to buy a car, they are typically sold beaten-up or lime cars that ultimately becomes a tin box within 5 years. The opinion is as untrue as it gets. And there are solid reasons to back that claim.
BHPH dealers are first car dealers
The core business of all buy here pay here dealers are selling cars. The aspect of helping with auto financing is merely an added wing. To draw a comparison with other car dealers, BHPHs absorb their fleet from similar sources. They sell to good credit holders and accept pre-approved loans that are not taken from their finance and insurance offices. The only difference of BHPH is that if you approach with a bad credit score, they will not turn you back. You get access to the same inventory that they manage for all. Your credit score does not define your options in the top BHPH dealers.
Resale value depends on the car’s quality
The amount of resale you get is independent of how you financed the car, as long as you bought a quality car. You may get financing from the bank and buy from a standard dealer and yet lose out on resale as the car was not of adequate quality, to begin with. Look for a buy here pay here truck or car that carries a warranty. Inspect the vehicle before purchasing and stick only to the reputed buy here pay here dealerships. Pick reliable brands and models and the resale values will stay just in line with your initial expectations.
Beyond dealerships, resale values also depend on you
A car that sees all its servicing and maintenance schedules naturally garners a high resale value. You may buy the best of used cars in Spartanburg, SC, and still, end up with a terrible resale if you do not take care of the car. Here again, where you buy the car from hardly matters. How you treat the same is the decider. Cars brought from small-time BHPH dealers may be beyond help. But if you bought from a trusted buy here pay here dealer, invested in a quality car, and kept up with the maintenance schedules, nothing in your control can ever bring down the resale price of your car.
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