| With many things in this world, there is more than | | | | use this type of financing only do so because they |
| meets the eye. Such is the case with "buy here, pay | | | | think that they have no other choice. |
| here" car dealers. The opportunity to obtain | | | | I'm sure that you can agree, that no one in their right |
| guaranteed auto financing without a credit check is | | | | mind would agree to pay 29% interest on a car loan |
| very appealing to people that have had a tough time | | | | unless they felt that they had no other option! So |
| with car credit. Even so, the drawbacks of using this | | | | obviously, you can see why these places are still in |
| form of car financing can wreak havoc on your | | | | business. |
| immediate and long term financial future. | | | | There are other options. |
| If you are wanting to repair your credit, a "buy here, | | | | Sub-prime and secondary auto lenders can provide |
| pay here" dealer isn't going to do it. They don't report | | | | real car loans for people that have bad credit. Even |
| to any of the major credit bureaus in 99% of cases. | | | | after a repossession, bankruptcy or other credit |
| Only a legitimate auto loan will help to improve your car | | | | disaster. Some of these companies provide their |
| credit. Many people that start using in-house dealer | | | | services online and offer instant approvals. |
| financing never get out of the cycle of being | | | | Regardless of where you choose to obtain your |
| dependent on it for financing. | | | | financing, make sure that you take your time and |
| Aside from that drawback, you'll also pay up to 200% | | | | make an educated, well-informed decision before even |
| more for a vehicle at one of these types of | | | | thinking of using "buy here, pay here" financing. You'll |
| establishments. This form of financing only exists due | | | | get a lower interest rate at a pawn shop, and probably |
| to the desperation and need of people that are short | | | | a better deal! |
| on money and credit for a car. Most customers that | | | | |