Differences Between Buy Here Pay Here, We Finance and On the Lot Financing

Car dealerships across the country always try to entice drivers by making  car buying a simple and streamlined process. Dealerships will also promote their business by offering financing options. Since car shoppers might not understand which financing options work best for them, learn about the differences between Buy Here Pay Here, We Finance and On the Lot Financing and what they mean here.

In actuality, there isn’t really much of a difference at all between Buy Here Pay Here, We Finance or On the Lot Financing. In fact, many dealers actually use these terms interchangeably. Because of this; however, there has been a lot of confusion and many myths that have come up due to dealers trying to bring in customers.

Dealerships Near Raleigh NC for People With Low Credit

Many people have difficulties receiving bank loans to be able to afford often necessary vehicles. With mixing up We Finance, On the Lot Financing and Buy Here Pay Here, drivers could be missing out on the many benefits of a Buy Here Pay Here dealership.

Read more: How to get the most for your trade in at AutoMax of Youngsville. 

While dealerships highlighting the other financing options, customers still need to go through a third party company to be approved for a car loan. However, this can be difficult for many people. Buy Here Pay Here dealerships are perfect for customers with low credit, as car payments are made directly to the dealer itself using in-house financing.

If you would like to learn more about the differences between Buy Here Pay Here, We Finance and On the Lot Financing, be sure to contact us at AutoMax of Youngsville or AutoMax of Henderson, both of which are Buy Here Pay Here dealerships near Raleigh, NC. Be sure to also follow our blog for car buying tips.