Can I Buy a Used Car With Bad Credit?
- September 11, 2018
- El Paso TX, In-house Financing Car Lots
- Posted by Cristal Gonzalez
- Leave your thoughts
If you have ever found yourself sitting in a dead car needing to get to school, work or your child’s school, you know how vital a car can be. This is especially true when you are used to driving a car on a daily basis only to find it break down. It can be even worse when you have a car that is emptying your wallet due to excessive mechanical breakdowns. The situation only gets worse when you don’t have enough credit to go buy a new vehicle to go about your daily needs. The good news is, when you turn to in-house financing car lots, you have the opportunity to purchase a used car. We have the info you are looking for along with a few tips here.
How Do In-House Financing Car Lots Work?
You are probably wondering, how is it possible? The short answer, “buy here, pay here” car lots extend credit to you themselves instead of using a bank. They do this with a few conditions to protect themselves with the risk they are assuming. Let’s face it, if you have a bad credit score it is because you have made some money mistakes in the past. Not only are in-house financing car lots taking a risk by essentially lending to you, they are giving you a chance to improve your credit. One of the main conditions is higher than usual interest. You will also make your payment straight to the car lot. Lastly, most “buy here pay here” car lots will also require an upfront down payment.
Save Your Pennies
If you are planning on purchasing a car from an in-house financing car lot you need to have a bit of a nest egg stashed away to make that down payment. It can range in prices depending solely on the vehicle you choose. In the long run, saving a bit of every paycheck or working those extra hours can really pay off. If you are expecting to replace your car, get the down payment saving process started!
Drive Off the Lot Today
If you are ready with a down payment and are willing to be flexible with what type of car you choose, you have a really good chance of driving off the lot today with a used car. When you have bad credit you still have a chance to get some wheels and improve your credit with in-house financing car lots. Contact us today for more info.