Bad credit can make life difficult especially for people trying to get a car loan. Even if you have been turned down for a car loan in Philadelphia before, you can still get financing for a car. Buy here pay here dealerships were made for people with bad credit. They give you a chance to get a car no matter what your credit situation is. Too many people find themselves in difficult financial situations due to circumstances beyond their control, and traditional lenders and car dealerships aren’t always accommodating to these individuals. Bad credit does not have to define you, or drastically shape your life. Buy here pay here financing is the bad credit solution to auto financing that Philadelphians have been looking for!

Buy Here Pay Here: What Is It?

The traditional car sale looks like this: individual goes into the dealership, chooses a car they like and can afford, finances the car through a lending institution like a bank or credit union, and drives the car home. In the traditional model, the lending institution is the one who is paying for the car upfront, and the individual pays back the bank or credit union as per the terms of the loan agreement.

In the traditional model of car buying, the lenders have control over who gets to buy a car and who doesn’t. Even if the dealership wanted to sell you a car without financing from a bank or credit union they wouldn’t be able to due to the risk. Buy here pay here financing brings the entire car buying process back to the dealership and simplifies the financing aspect for individuals with bad credit.

Buy here pay here car sales look like this: individual goes into the dealership, chooses a car they like and can afford, finances the car through the dealership, and drives the car home. In the buy here pay here model of car financing, the lending institution is cut out. Instead of paying back a third-party lender individuals pay back the dealership where they bought the car. It is simple! You pay for the car where you bought the car.

The Benefits of Buy Here Pay Here

Now that we know what we buy here pay here is, what are the benefits of buying a car this way? For people with bad credit it opens up a lot of different possibilities especially if they have been turned down for credit by traditional lending institutions.

  1. More People Can Get Cars - Buy here pay here financing means more people can get cars that they can afford. This is a win-win for consumers and the dealership. A lot of people get turned down for credit and they can’t buy a car. This not only hurts the person who can’t get a car, but this also hurts the dealership too because they lose out on a sale. Buy here pay here financing helps dealerships sell more cars and it helps people with bad credit get cars that they otherwise wouldn’t be able to due to standard lending practices.

  2. Financing Packages That Fit Your Life -  One size does not fit all when it comes to financing cars. Traditional lenders have lending guidelines and best practices that do not offer much flexibility to the consumer. Buy here pay here financing packages on the other hand can be completely tailored to fit your budget. It is in the best interest of everyone involved to make sure that the monthly car payments that are part of your buy here pay here deal are affordable for you. You can work with your dealership’s financing team to determine what you can afford on a monthly basis. Buy here pay here plans are far more flexible and customizable since the dealership is in control of the financing.

  3. Turn Your Credit Around -  One of the biggest benefits to buy here pay here financing is that it can help rebuild your credit. Your credit improves when you have loans that you regularly pay back on time. Having a car loan and paying it back on time and in the full amount will improve your credit score. It doesn’t hurt that you can work closely with the dealership’s financing team to set up financing terms that fit your budget so you can be sure that you will always be on time with your payments.

For people with bad credit in Philadelphia there is no better option than buy here pay here financing. You need a car, but you don’t have the credit score that would make traditional financing an option. Don’t settle for the cash cars that you can buy for a thousand or so dollars. Those used cars are of dubious quality and will only cost you more in repairs in the long run. Buy here pay here financing is the option that gets you a quality used car at an affordable rate. No matter what your credit looks like you can get a quality used car at a buy here pay here dealership.

Best Buy Imports is a true buy here pay here dealership in Philadelphia! Be wary of the other buy here pay here dealerships in Philadelphia. They claim to be buy here pay here locations but they really source their financing out to a third-party credit lender. Best Buy Imports is the home of the best selection of used cars, trucks, and SUVs and the best bad credit auto financing in Philadelphia.

Come visit our dealership. We would love to show you around and talk to you about your credit situation. We’re proud to help hard-working Philadelphians get great used cars no matter what their credit score is every day! When you’re ready to buy a used car there is no dealership better than Best Buy Imports. Browse through our entire inventory online or come visit us at either of our Frankford Ave locations in Philadelphia, PA.