Coast to Coast Motors Official Blog

3 common myths about buy here, pay here dealerships

By Product Expert | Posted in About Us, Financing, How does it work? on Monday, November 13th, 2017 at 8:00 AM
3 myths about buy here pay here car dealerships

You have probably heard a variety of things about buy here, pay here dealerships. Some say that these types of dealerships only have older vehicles and charge extraordinary interest rates. These claims simply aren’t true. We are here to set the record straight. Here are 3 of the most common myths we hear about shopping at a buy here pay here store.

Row of cars at a auto dealership

Myth #1: Traditional dealerships and buy here, pay here stores are the same

When it comes down to the details, these two type of dealerships couldn’t be more different. Traditional car dealerships typically turn away car shoppers with low or bad credit history. Buy here, pay here dealerships exist to help shoppers with bad credit get the quality vehicle they need. At Coast to Coast Motors we also help you rebuild your credit, by working with you to set up an affordable monthly payment plan.

Myth #2: All vehicles at buy here, pay here dealerships are old, high-mileage junkers

This couldn’t be further from the truth. At Coast to Coast Motors we sell a variety of newer models and low-mileage vehicles. Here you will find vehicles for every budget and style, including sedans, crossover SUVs, vans, trucks and much more. Maybe most importantly, every vehicle has been hand-picked for our inventory and has passed a rigorous multi-point inspection.

Myth #3: Buy here, pay here dealerships charge interest rates as high as 30%

We simply don’t do business that way. The buy here, pay here industry is regulated by state and interest rates in Oklahoma and Texas are capped. At Coast to Coast Motors we offer our customers the lowest interest rates available. Unlike traditional car dealerships, buy here pay here dealers lend their own money to customers. The average interest rate at Coast to Coast Motors varies, but is nowhere near 30%.

At Coast to Coast Motors we make it easy to get the vehicle you need with in-house financing. You can finance a car today! All you need is your most recent check stub, a driver’s license and a piece of mail that was sent to your current address. Stop by and see us today!

Read More: How is Coast to Coast Motors different than the competition?