Buy here pay here near raleigh nc

Have you been through bankruptcy, repossession, or foreclosure? Buy here pay here dealerships are becoming quite popular in North Carolina, because they will finance just about anyone, even if they have major credit issues.

They make all credit decisions directly, so they can support a wider range of credit-seekers. Since the loan is offered directly from the dealership, you’ll be making your payments directly to the dealer, not to a third-party finance company or bank. These car lots generally market their services with slogans like:

• We Finance
• We Tote The Note
• Your Job is Your Credit
• Rent to Own
• In-House Financing

Getting Approved for In-House Financing

Who wants to cruise around town, searching for a buy here pay here dealer? We’ll find you a dealership that suits your budget and needs. Here at Raleigh Auto Finance, we get you approved for financing in less time, with fewer hassles. The service is quick, free, and there are no obligations.

Our dealers will often accept borrowers with scores as low as 500, sometimes lower, which means credit is not an issue. That being said, you will need a minimum income of $1500 per month or $375 a week. Keep in mind, this is your income before taxes and other expenses are taken out.

If you make less than $1500 a month, and you don’t anyone who can cosign, it could be hard to get approved. Your best option might be to save your money for a low-priced used car.

Money Down: a Requirement?

Generally, dealerships that offer in-house financing will want you to provide a down payment. These are very high risk lending scenarios, so a down payment safeguards the dealer against losses if the borrower fails to make his or her payments. More often than not, the down payment amounts to what the dealer paid for the car or truck, which means you might want to go with the least down payment possible.

Understanding Your Contract

Repossession is common among people with unfavorable credit ratings, and avoiding it begins before you ever sign your agreement. To avoid repossession, get a car with affordable monthly payments, perhaps just 5-8% of your monthly income. Always make your payments by the due date, and review your contract to determine what constitutes a default. You don’t want to be caught off-guard when a tow-truck appears in the driveway because you’ve missed a payment by a specific number of days.

Raleigh Buy Here Pay Here Car Lots