Buy Here Pay Here Financing

Buy Here Pay Here Financing Explained

True Buy Here Pay Here dealerships handle 100% of financing in-house for the cars they sell rather than financing through a traditional bank or credit union. If you’ve searched the Internet for a good used car in North Carolina lately, you’ve probably seen several advertisements for buy here pay car dealers or buy here pay here financing. By now you may be wondering what that means. Although buy here pay here financing has become more common over the past few years, not everyone has heard of this method of purchasing a used car. However, it’s a viable option – and may be the best solution – for someone who has suffered from credit challenges in the past and cannot pay cash for a car.

What Does Buy Here Pay Here Financing Mean?

Buy here pay here financing is a term that’s used to describe the process of arranging a loan for a used car through the dealership the car is being purchased from rather than from a traditional bank, savings and loan, or credit union. Buy here pay here dealerships handle all financing on-site for the cars they have on their lot. They’re willing to take on the risk of lending money to someone with bad credit or someone who hasn’t had a chance to establish credit of any kind yet.

How Do I Recognize A Buy Here Pay Here Dealer?

Many terms are used in the industry for this type of car dealer. Phrases such as on-the-lot or in-house financing, easy financing, or no credit check financing often signal that the dealer is a buy here pay here car dealer. They all function in largely the same way, although there may be slight differences from one dealer to the next. AutoMax in Henderson and Youngsville, North Carolina is a good example of a trusted buy here pay here car dealership. They’ve been making car loans to customers in Henderson, Youngsville, and the surrounding areas for nearly 30 years and they love educating customers on the buy here pay here financing process. If you have questions about how buy here pay here financing works, jot them down, and then stop in and talk with the folks at AutoMax.

Making Payments Is Easy And Convenient

Buy here pay here dealers provide many different ways for you to make your car payment, allowing you to choose the one that’s right for you. The payment date typically coincides with payday, so making the payment every paycheck is convenient from a budget and timing perspective. Dealers often request that you make payments in person; but many dealers offer other options like online payment portals, payment by phone, automatic payment withdrawal from your checking account, or traditional mail service, to name a few. AutoMax allows you to pay online easily. AutoMax has an interest in your overall success, so they’re willing to work with you to ensure that making your payment is as convenient as possible.

Is Buy Here Pay Here Financing A Good Solution For Me?

Buy here pay here financing can be an excellent solution for someone who is not able to get a loan through traditional means. Buy here pay here dealers work with you when you come into the dealership. The qualification process is often very quick and easy, so you’ll know within minutes of arriving that you are approved. By requesting salary information, they’re able to come up with a down payment that your budget can handle. Payments are affordable, too. Buy here pay here car dealers like AutoMax want you to be happy with your purchase and comfortable with your payment schedule. They know that you’re more likely to succeed in keeping up with your payments if they fit well within your monthly budget.

Rebuilding your credit score is another reason why buy here pay here financing might be right for you. Many buy here pay here car dealers report your good payment history to Equifax. This good payment history gives you brownie points in the eyes of the agencies and future lenders because the more reliable you are with making car payments, the better risk you are for other lenders. This can boost your credit score and improves the chances of getting a conventional loan if you ever need to make another large purchase, such as a house.

Experience It For Yourself

Buy here pay here financing is simple once you understand how it works, and it’s a great way to purchase a used car if you have bad credit or haven’t had an opportunity to establish any credit record yet. North Carolina car dealer AutoMax has two convenient locations, one in Henderson and one in Youngsville, North Carolina. They’ve been serving customers in Wake, Durham, Orange, Franklin, Vance, Granville, Person, Nash, Johnston, Warren, and Halifax counties; and they’d love to help you, too. Stop in today and experience the ease of buy here pay here financing for yourself.

Buy Here Pay Here

How Many Miles On A Used Car Is Too Many?

Higher Mileage Used Cars Can Be A Wise Purchase

When considering the purchase of a used car, potential buyers inevitably ask the question: “How many miles is too many on a used vehicle?” While we can’t give you an exact number, we can help you with several factors that might help you make your decision on which used car to buy.  In the past, a car that reached 100,000 miles was almost considered ready for the scrap pile and sold at a steep discount. With the recent improvements in technology and manufacturing techniques, many vehicles reach the 200,000-mile level with ease.

At AutoMax, we advise consumers to look at how many miles are left on a used car, used truck or used SUV as opposed to how many miles are on the vehicle to understand the longevity of buy here pay here cars.

What About The Cars For Sale At Pay Here Buy Here Car Lots Near Me?

There are some simple factors to consider when assessing whether a used vehicle is worth purchasing. One of the first factors to consider is the maintenance history of the vehicle. Has the vehicle been maintained with regular oil changes and other regular maintenance requirements? Check the Carfax report and see if the previous owner(s) kept service records.

A vehicle with one owner that has regularly maintained the vehicle is usually going to be a better purchase than a vehicle that has had multiple owners and somewhat incomplete maintenance records. However, that doesn’t mean a car with fewer records is always a bad choice.

Another thing to check is if the vehicle has been subject to any recalls and if the vehicle has received all necessary recall repairs. A reputable dealer should be able to supply you with the Carfax report to show the number of open recalls.

How did the vehicle get so many miles

Additionally, one should consider how the vehicle was used in its past life. If the vehicle has been used by a person driving the car principally for business, it has most likely been well maintained. A vehicle with 80,000 highway miles can sometimes be in better shape than a car driven hard in the city with 50,000 miles on the odometer. 

A wary buyer should use as a general rule of thumb that most cars are driven 12,000-15,000 miles per year. If a vehicle is 10 years of age, it should have between 120,000 miles and 150,000 miles on the odometer. If a vehicle has accumulated substantially more miles or fewer miles, an inquiry related to this should be investigated. Of course, it’s possible that an older car with low mileage was a second family car or owned by someone who rarely drove. You should still do your due diligence to inquire about whether it was inspected to check for issues that can arise when vehicles sit for long periods of time.

Beware the four-year-old vehicle that has 90,000 miles on it with more than one owner — it may not have been maintained in a fashion that will get it to that 200,000-mile level and may have substantially less than the approximately 100,000 miles of use left that you could reasonably expect. 

Finding A Quality Used Car For Sale In The Research Triangle Without Too Many Miles

All in all, an inspection by an independent mechanic before purchasing the vehicle is always a good idea, or purchasing a used car with a warranty from the lot. Requesting a vehicle history report from a reputable source such as Carfax can show you how many owners a vehicle has had. The Carfax report will also help to verify service, maintenance, and repair records, and will show any history of accidents in which the vehicle may have been involved. These reports can be an invaluable aid when seriously considering the purchase of a vehicle. (AutoMax provides both a Carfax report and a complementary warranty with every vehicle sold!)

Vehicles that have been used as rental cars are certainly worth considering. These vehicles are generally newer, but have higher mileage than the 15,000 miles per year rule of thumb. However, these vehicles, by virtue of their usage, are usually well maintained and have likely been reconditioned before being offered for sale. 

When you consider that the average vehicle on the road these days is 12 years old, if you find a vehicle that is seven years old with around 100,000 miles on it, you can reasonably expect to get several more years on the vehicle if it has been properly maintained. 

Purchasing a used vehicle from a buy here pay here lot rather than a private seller in Raleigh-Durham is also something a buyer should consider. A vehicle from a professional car lot like AutoMax will most likely have been thoroughly inspected and reconditioned by AutoMax. This should at least give a purchaser some comfort in knowing we will take care of any obvious issues. A worry-free warranty is included with every vehicle sold.  

Which Used Cars Can Last 300,000 Miles?

There are certain vehicle makes and models that history shows have been more reliable and have consistently proven to last longer than other vehicles. Research shows that there are a good number of vehicles on the road that have reached the lofty range of 300,000 miles. Of course, several factors determine whether a vehicle will reach this milestone, especially the level of maintenance it has received and how responsibly it was driven.

The Honda Civic has been consistently one of the best vehicle performers in longevity and has been a fixture on the Consumer Reports list of the longest-lasting vehicles. 

The Subaru Forester is another vehicle that owners have rated highly for dependability on an ongoing basis. In general, all Subaru vehicles are highly rated as having a good chance at lasting over 200,000 miles. 

If you are looking for a truck, the pre-2016 Toyota Tacoma is a safe bet to give extended mileage and reliability. 

Looking at electric vehicles? The Ford Escape Hybrid has accumulated impressive mileage numbers as attested to by New York City taxi fleets. The first 18 put into service all accumulated more than 175,000 miles and have remained a significant percentage of the taxi fleet to this day. Many of these cars having more than 400,000 miles on the odometer. 

The granddaddy of all vehicles in terms of mileage and reliability is the Toyota Camry, which sees more than 20% of its owners keeping the vehicles for 10 years or more and even passing it down to their kids as their first cars.

AutoMax Is Closer To Raleigh, NC Than You Think!

When buying a used vehicle, consider AutoMax, where you can find a great buy here pay here car. Our mission is to make it easy for Raleigh, North Carolina residents to buy reliable vehicles. We do this with in-house financing. For people with past credit challenges or no credit at all, buying a car through a traditional dealership can be a struggle if they can’t qualify for a bank loan. At AutoMax, we have the solution, and can get you into a new-to-you car with financing options that are right for you.

You can get started on the search for your next car by getting approved for our buy here pay here financing before you visit our lot. We’ll use the information you provide to show you cars that fit your budget and lifestyle. We’ll even let you trade in your old vehicle as a downpayment!

Visit our car lots in Henderson and Youngsville to browse our selection of vehicles, or check out our inventory online.

Bad Credit Financing

Finding a Bad Credit Car Dealership in North Carolina

We are here to help you find the best bad credit car dealership and get you on the road to success. A good, reliable set of wheels is one of the basics in life, right? You have to have a way to get from point A to point B, whether that’s the office, grocery store, or church on Sunday. If you have a reliable car already, that’s awesome. But if you don’t, it may be time to go shopping. There’s nothing more stressful than driving around in a car that may break down at any moment. That’s no fun.

Okay then, it’s time to go car shopping.

But What Happens If You Have Bad Credit?

inside bhph dealership

Most everyone needs some type of financing to purchase their car. For someone with a bad credit score, the prospect of buying a car can be daunting. Not only do you have to spend time searching around for a car that seems reliable and affordable. You also have to deal with the uncertainty of being able to qualify for a loan. Then there’s the embarrassment that comes with being turned down time and again by traditional lenders because of your credit score. And worst of all, the thought…”Are they going to laugh at me after I walk out?”

A Bad Credit Car Dealership May Be The Answer.

Bad credit car dealerships specialize in working with people that have had credit challenges in the past and are suffering from a low credit score as a result. They make loans to people like you because they know how important it is to have a reliable, safe vehicle. They also know that you’re probably a good person, and your credit score is the result of a few bad decisions in the past. That’s okay. Bad credit car dealers get it. They’ll work with you to get you into a reliable vehicle that you can afford.

Here’s How A Bad Credit Car Dealership Can Work For You.

#1: Fast Pre-Approval Process

Getting pre-approved to buy a car at a bad credit car dealership is typically a very quick and easy process. It can often be done online before you even go to the dealership. Simply answer a few quick questions – usually about your job status, monthly income, and residency – and you get an answer back within minutes. It’s easy and pain free!

The benefit to going through the pre-approval process online ahead of time is that when you walk into the dealership, you’ll already feel secure in knowing that you have already qualified for a vehicle. That takes a lot of the stress out of the car buying process.

#2: In-House Financing

A bad credit car dealership, sometimes called a buy here pay here dealership, handles all the financing approvals and paperwork on site. This includes making the decision about who they make a loan to and who they choose not to loan to. A bad credit car dealership will not limit loans to individuals with “perfect credit” or use formulas to qualify someone as a traditional bank does. Instead, they will listen to your story and help you find the right vehicle for your unique situation using the means you have available. It’s a much more personalized process and helps ensure that you not only get the car you need, but you can afford to fit the payments into your budget, as well.

#3: Great Selection

Bad credit car dealerships usually have a great selection of used cars on the lot at any given time. Most of what you’ll find will be somewhere in the area of 15 years old or less. While 15 years may sound like a lot, these cars don’t make it onto these lots unless they have a lot of life left in them. You’ll find a great selection to choose from and can shop with the confidence that these cars have all been inspected for safety and reliability before ever being offered for sale. Go ahead. Take one for a test drive and see what you think.

Sounds Good. Now How Do I Find A Bad Credit Car Dealership In North Carolina?

Good question!

Bad credit car dealerships are located in pretty much every state in the country. They’ve become very popular over the past decade as car dealers have recognized the need for this type of financing service. According to Experian, about 30% of consumers in the United States have a subprime credit score. That’s a huge market! (Look at it this way – at least you’re in good company.) To serve the needs of consumers like you, bad credit car dealerships have popped up all across the country, including in North Carolina.

Here’s How To Find One Near You:

Look for a dealership with a special finance department or in-house financing.

The terms “special financing” and “in-house financing” are code words for a bad credit car dealership. Listen for those terms when you hear ads on TV or on the radio. Look for them as you drive around town. Wherever you find these phrases, you’ll probably find a bad credit car dealership.

Google It.

What on earth did we do before Google? If you’re looking for a bad credit car dealership in North Carolina, ask Google to show you the locations that are nearest to you. You can Google the phrases, “bad credit car dealership in North Carolina” or “buy here pay here dealership in North Carolina” and see what comes up in the results.

Go To AutoMax.

How about the quick and easy route? Instead of guessing as you drive around town or hoping that Google can figure out a dealership that’s close to home, why not stop in at AutoMax? AutoMax is a bad credit car dealership in North Carolina that serves the Raleigh-Durham metro area, as well as Henderson and Youngsville. These folks have been in the business for nearly 30 years, and they know what they’re talking about. They finance 100% of their loans in-house, and they’ll be happy to talk with you about your unique situation and see what they can do to get you in a reliable used car that fits your budget.