Buy Here, Pay Here

Sometimes we’ve already convinced ourselves we have such bad credit we start with the assumption we don’t have options. There are dealers who know this as well; one more reason to apply on-line to find out.

It’s known as the Buy Here, Pay Here process. The consumer either has limited options… or is TOLD they have no options… and actually finances their car purchase through the dealership and not a traditional lending source.

The result is a higher than perhaps necessary lending rate.

Before you fall victim to something like this, let Don Wood Say Yes. Fill out our easy credit application and find out where you stand, instead of letting somebody else tell you.

Our business managers are experts in working with banks and people with credit challenges. Let us go to bat for you.

We’ve been successful in getting customers approved with challenges ranging from divorce, to bankruptcy to repossession.

UNDERSTAND YOUR OPTIONS

Because most in-house finance companies cover their investment with money upfront, you may be required to provide a higher down payment than a bank or traditional finance company would expect. Interest rates will be higher on average than traditional financing, even if you finance a vehicle with poor credit. You might also find yourself paying new car prices for a used car.

Buy Here Pay Here lots have a high percentage of vehicle repossessions. Because dealerships are less tolerant of late payments than a conventional finance company, paying even a week late on your loan could result in the loss of your automobile. Car payments may be required on a weekly or bi-weekly basis, or may even coincide with your paydays. This is convenient for some and cumbersome for others.

WE CAN HELP!

Once you apply through Don Wood Says Yes we can work with you to help figure out which option really is best for you. We like to educate our customers so they can make confident buying decisions.