Coast to Coast Motors Official Blog

A Trusted Buy Here Pay Here Dealer Is For All Types Of Borrowers

By Product Expert | Posted in Financing, How does it work? on Thursday, April 30th, 2020 at 2:33 PM
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Buy Here Pay Here is a good idea for borrowers who are credit-challenged or borrowers with no credit history. Coast to Coast Motors can help you get behind the wheel!

A reliable Buy Here Pay Here dealership like Coast to Coast Motors can benefit many types of borrowers. We offer financial solutions for car shoppers with no credit history or even poor credit history. Whether you’re brand new to borrowing or found yourself in an unfortunate financial situation, we are here to help. Buy Here Pay Here is a good idea for buyers who have not

established credit, or are credit-challenged.

Financing At A Buy Here Pay Here Dealership

A Buy Here Pay Here dealership serves as the dealership and the lender. Most BHPH dealers use in-house financing to set the terms of an automotive loan repayment plan. All BHPH financing departments should report consumers’ monthly payments to credit bureaus to ensure their credit scores are positively impacted by each payment that is made on time. Over time as the BHPH dealer reports monthly car payments, this can improve a borrower’s credit score tremendously if the installments are consistently paid. Based on a consumer’s income, our financing team can create a financial plan that aligns with their needs and lifestyle. Let’s take a look at the type of borrowers who benefit the most from a Buy Here Pay Here auto loan.

Credit Challenged Borrowers

A Buy Here Pay Here dealership is a great option for credit-challenged individuals. Several circumstances can lead anyone into a sticky situation where their credit is affected in the end. Whether you have experienced a horrible divorce or had a medical emergency that bombarded you with outrageous medical bills, everybody deserves an equal opportunity to purchase a vehicle. Bankruptcy and other financial decisions such as falling behind on repaying your loans can also lead to lower credit scores.

No Credit Borrowers

Buy Here Pay Here dealerships offer first-time borrowers the option to borrow money without penalizing them for not having a long credit history. This is an advantage over traditional dealerships that are typically unable to finance loans for consumers with no credit because they cannot prove their track record of being reliable and making monthly payments on time. All borrowers must start somewhere. A BHPH dealership’s in-house financing team can assist customers by setting them up with their first car loan. Buy Here Pay Here dealerships can help borrowers with no credit establish good financial standing with lenders by following the terms of the loan repayment plan.

Buy Here Pay Here Is A Good Idea

At Coast to Coast Motors, we are proud to offer financial solutions to all types of borrowers. Credit-challenged borrowers are promised a second chance and an opportunity to improve their credit score, while borrowers with no credit are presented with a shot at working toward a high credit standing. No matter your financial situation, we would be happy to discuss our inventory and loan terms over the phone. For the safety of our team and customers, we are delivering any vehicle to pre-qualified customers for a safe test drive. Give us a call today!