When you’re ready to buy a pre-owned or used car, you have several options of where you can go to purchase. You could purchase a car from an individual. You could purchase a car from a large car dealer, or you could purchase a car from a Buy Here Pay Here car lot, like AutoMax in Henderson and Youngsville.

Buying from an individual can be messy. You have to make sure you get the car inspected by one or more people, and you have to make sure you check off all the boxes, like title, history reports, etc. Plus, you have to make sure you’re getting a fair price. This whole process can be lengthy and stressful.

Buying from a large car dealer – one that may also sell new cars – also has a few downfalls, such as whether or not you’ll be approved for financing. Since large car dealers typically go through large banks or credit unions, you may have a hard time getting approved if you’ve had any credit trouble or don’t have credit at all. Also, you’ll typically spend half a day working on paperwork for a third party provider at these large dealerships. In addition, the selection is probably slim to nil on great used cars. And if you do find a good car for you, you may be getting ripped off, since used cars are typically a liability for large dealers.

Buying from a Buy Here Pay Here car lot is the best choice for buying a used car. From great financing options to a great used car inventory, here are some of the many reasons why:

Why Buy A Used Car From Our Buy Here Pay Here Car Lot

1. We’re A One-Stop-Shop

Customers at our Buy Here Pay Here car lot in Henderson and Youngsville love that they only have to make one stop and one call to get a great used car. No need to call your bank or a credit union and fill out multiple applications for financing. It’s all done here.

When you’re ready to shop our lot, check out inventory online to see what we have or give us a call to see if there’s anything additional in stock. Or, just come by. You’ll meet with one of our friendly professionals, who will guide you through the process of buying a used car at our Buy Here Pay Here lot.

He or she will explain to you how the Buy Here Pay Here financing works, help you browse through our selection, test drive cars, and get you in the car you need. Once you’ve chosen your car, we dive into financing and negotiate terms with you. We’re up front about everything and explain every little detail along the way.

The whole process is much quicker, since you get financing in-house. You’ll be out of our Henderson or Youngsville car lot in no time, with financing terms you want and a car you enjoy.

2. We Provide Financing To People With Less-Than-Perfect Credit Or No Credit

These days, it’s not unusual for people to have past credit bumps and bruises, and that shouldn’t keep you from getting the car you want, when you need it. Unlike some things, a car can’t wait for you to improve your credit, and we understand that. Large banks, dealerships and credit unions don’t understand that, so it can be tough to get approved for financing there. Our Buy Here Pay Here car lot offers financing to people in all credit situations.

Whether you haven’t had the chance to build any credit or you are working on rebuilding yours from a tough financial time, Buy Here Pay Here financing is perfect for you. We provide credit terms and conditions that are reasonable for your situation, so we can be a partner in your financial future. You don’t have to worry about whether or not you’ll make it to work the next day without your current car – our Buy Here Pay Here lots are here to help you out.

3. You’re Partnering With A Local Team You Can Trust

Instead of going through a big bank or dealership using a third party provider, our Buy Here Pay Here car lot is your financer. We offer in-house auto financing that our customers love. When you come to our lot in Henderson or Youngsville for our Buy Here Pay Here financing, you get peace of mind that you are not just a number in our system.

We’ll be here for you from the very beginning, and when any problem or question arises, we’re here for you at any time. We want to build a personal relationship with our customers, so they never feel like they aren’t important. We want to help you and your family reach your goals and make sure your needs are met.

4. We Help You Build Credit

If you have no credit or need to build credit after a difficult financial time, we help you do that. Each payment that you make on time is reported to Equifax. You’ll get the satisfaction of seeing your on time payments get reported month after month, which may help your credit score improve, and help you to have a better financial future.

In addition, we’ll help you set up automatic payments, so that you can work on your credit score with ease. We also accept a wide variety of payments, so you can pay however is easiest for you.

5. You Can Make A Low Down Payment

Since we have in-house financing at our Buy Here Pay Here car lots, we can be more flexible with your loan’s terms, including a down payment. We help you in whatever financial situation you are in, so we work to find a down payment that fits your budget. We don’t want to let a down payment scare you away from buying a car.

Yearly, from November 1st to January 15th, we also offer our $89 Down special. With this, you can defer a higher-than-normal amount, thanks to your tax refund.

6. We Are More Focused On Vehicle Quality Than Other Dealerships

Since used cars are all of what we sell, we are focused on quality more than other dealerships – especially those primarily selling new cars. In addition, our inspection standards and vehicle reconditioning processes are top-of-the-line.

For every car on our Buy Here Pay Here lot, we offer car warranties and provide vehicle repair history, history reports and warranty details.

7. You Have Greater Trade-In Flexibility

Buy Here Pay Here car lots, like ours, are typically more lenient when it comes to trade-ins with older model vehicles. This is simply because we understand the value and benefit of getting long-term use out of cars that are older, even though other dealerships don’t normally accept them.

We are more able to find someone to buy the older model cars, so we are happy take them as trade-ins. We aren’t focused only on new cars, new technologies and profits, like many big dealerships. We are focused on our customers’ needs and financial futures.

Come to Our Buy Here Car Lot in Henderson or Youngsville Today

Get in the car you want with financial terms you can get behind at our Buy Here Pay Here car lots in Henderson or Youngsville, NC. Get approved for financing, search our inventory, stop by or contact us by phone or email (see below) to get started. Our friendly professionals are ready to chat with you now!

AutoMax of Henderson, NC – (252) 430-1006 Send our team a message

AutoMax of Youngsville, NC – (919) 570-1107 Send our team a message

AutoMax Buy Here Pay Here car lots in Henderson and Youngsville, NC proudly serve customers in Raleigh, Durham, Chapel Hill, Butner, Creedmoor, Louisburg, Wake Forest, Rolesville, Zebulon, Nashville, and Warrenton, in Vance County, Wake County, Granville County, Franklin County, Durham County, Orange County, Nash County, and Warren County.

Credit problems come in many shapes and sizes. Maybe you’ve missed a few payments that were reported to the credit bureaus. Perhaps you maxed out one or more credit cards and are having trouble paying them off. Maybe you’ve even filed for bankruptcy in the past.

Countless people across America have been experiencing financial hardships recently, which have wreaked havoc on their credit scores. Unfortunately, it can take anywhere from several months to many years to rebuild credit. But some things can’t wait for you to get a better credit score. Like a car. You need it every day to drive to work, or you won’t have a job.

If you’re experiencing problems with your car and are in need of a more reliable one, a Buy Here Pay Here dealership is the perfect place for you to get one. It can be hard to get financing at many dealerships and banks with damaged credit, but a Buy Here Pay Here dealership can get you the financing you need and get you into a great car.

Why Come To A Buy Here Pay Here Dealership For Your Car

1. You Can Find A Great Quality Pre-Owned Vehicle.

Maybe you have less-than-perfect credit, but it doesn’t mean you can’t find a great quality pre-owned vehicle. A Buy Here Pay Here dealership like AutoMax of Henderson and Youngsville is focused on getting customers of all credit situations in the perfect car for their budget.

We partner with you in your auto financing. To ensure that you stay faithful to the payment plan we create for you, it’s of utmost importance for us to get you into a vehicle that will last you a long time. We want to create a great relationship with you, starting with your vehicle of choice.

In addition, our Buy Here Pay Here dealership practices the highest inspection standards and vehicle reconditioning processes, and we provide car warranties. Our customers get the repair history, vehicle history reports and warranty details upon purchase of any pre-owned vehicle that we have at our dealership.

2. We’ll Assist You In Building Your Credit

A Buy Here Pay Here dealership specializes in helping you build your credit, by providing affordable, quality cars and financing terms you can trust. We work with you, every step of the way, to build a financing plan that fits your needs on a monthly basis.

Making payments on a loan or line of credit is one of the best ways to rebuild your credit. We report on-time payments to Equifax every month, so you can see your progress. We will also set up your monthly payments to be automatic at the best time for you, so you can work on establishing timely payments with ease.

It’s our goal to help you have a successful loan experience with us, so that you and your family will benefit from it. You may be able to make larger purchases with a more established credit history, thanks to your financing at our Buy Here Pay Here dealership.

3. In-House Financing

One of the best benefits about AutoMax’s Buy Here Pay Here dealership is that our financing team is in-house – meaning you are working with us, not a bank or third-party provider, every step of the way. Unlike big dealerships, our Buy Here Pay Here terms are negotiated in-house, at our dealership in Henderson or Youngsville.

We’re always here to help answer any questions or problems along the way. We also accept a wide variety of payment forms to fit your needs, such as:

• Automatic Debit Card
• Automatic ACH (auto-draft)
• Traditional Mail
• Call-in
• Text Pay
• Online Payment Portal
• IVR
• In-store

No matter the question or problem, you can count on us to work with you for a solution. We truly care about your financial future.

4. It’s A True Local Partnership

Buy Here Pay Here dealerships offer the peace of mind that you don’t get when you sign up for financing through a third-party provider. As soon as you step into our doors in search of a great car, we start building a relationship with you – one that we hope will last for years to come. We are honest, open and reasonable about everything regarding your financing terms. Your budget, your family and your life are at our top-of-mind – not the profit we make from you. We want to help you build your credit, so may get better financing terms on large purchases in the future, no matter where you go.

Our team is your partner in your financial future, so you will never be just a number in our books. We will know you by name, and you will know us by name. And that’s something that our Buy Here Pay Here dealership customers love.

5. A Buy Here Pay Here Dealership Is A One-Stop-Shop

At AutoMax in Henderson and Youngsville, our Buy Here Pay Here dealership is the only stop you need to make to get the great car you need. No need to call up a bank or credit union to get your financing terms – you get them here. Simply pick out the perfect pre-owned vehicle for you, and we will work with you to get it financed on-site. Even more, you get to work with the same person throughout the process, helping us build a great relationship with you from the very beginning.

Overall, a Buy Here Pay Here dealership is one of the fastest car-buying experiences around. Less paperwork, less hassle, and more time for you to enjoy your new vehicle.

Get Started Finding Your Car at Our Buy Here Pay Here Dealership

Get in the car you want with the financing terms you need at our Buy Here Pay Here dealership in Henderson or Youngsville. Get approved online or chat with our friendly team to get started today!

Call AutoMax of Henderson, NC – (252) 430-1006 Send our team a message

Call AutoMax of Youngsville, NC – (919) 570-1107 Send our team a message

AutoMax in Henderson and Youngsville, NC is a proud Buy Here Pay Here dealership, helping customers with past or current credit problems in the areas of Raleigh, Durham, Chapel Hill, Butner, Creedmoor, Louisburg, Wake Forest, Rolesville, Zebulon, Nashville, and Warrenton, in Vance County, Wake County, Granville County, Franklin County, Durham County, Orange County, Nash County, and Warren County.

People with bad credit have a hard time getting a car loan. And that makes sense. Consumers with a low credit score are presumed to be a bad loan risk, and traditional lenders like banks and credit unions won’t touch them when it comes to a car loan. Or if they do, the loan comes with an extremely high interest rate which jacks up the payment, making it even more challenging to keep up every month.

Does this scenario sound familiar to you? If so, perhaps you’re in this boat, too. Maybe you’ve had some slip-ups or made mistakes that have hurt your credit history. If so, don’t worry. You do have options!

If You Have Bad Credit And Need A Car, Visit AutoMax!

AutoMax is a bad credit car dealership in North Carolina whose sole mission is to help you get into a new car that you can afford. Our family-owned dealership was started by two brothers back in 1989 who believed that if you treat people right, they’ll keep coming back and referring others. And so far, that’s proven to be the case. We’re still located in our first building in Henderson, NC, and are now operated by the second generation of the family. We’ve since expanded to a second location in Youngsville so that we can better serve customers throughout the state of North Carolina, including the Raleigh-Durham metro area.

Because We’ve Never Strayed From Our Core Values, People Trust Us.

It’s hard to find a bad credit car dealership that you can trust, but that’s what you’ll find when you work with AutoMax. We’re not into just selling you a car. We want to get to know you. We know that if you’re visiting us, you’ve probably had some credit challenges. That’s okay! We work with bad credit situations every day. We want to know more about your situation so we can help you choose a car that’s right for your needs and that fits your budget, too.

There are tons of reason to work with AutoMax. Here are just a few.

#1: AutoMax Is A Bad Credit Car Dealership

Yes, that sounds a little strange, doesn’t it? Why would we start with that as a reason to visit? It’s simple. Bad credit car dealerships are different than traditional car dealerships. The goal of a bad credit car dealership is to help people with bad credit get back on their feet. Bad credit car dealerships in North Carolina are plentiful, but not all of them operate the way AutoMax does. We take the stress and guesswork out of getting a car loan by handling the process for you. We finance 100% of our customers’ loans in-house and have the flexibility to provide you with loan terms that fit your financial situation. We know that folks with a bad credit history often feel pretty beaten down. We want to work with you to get you back on your feet again.

#2: Quick Process

Our loan approval process is quick and easy, and in fact, you usually get an answer back within minutes. Simply fill out a short form (either online or in our dealership), answer a few questions, and you’ll know whether you can go car shopping or not.

Once you’ve been approved, you’ll need to bring three items to the dealership with you:

• Two recent pay stubs
• A current utility bill
• A valid North Carolina or Virginia driver’s license

That’s it! Pretty painless, right?

#3: Inventory

You like having choices, right? AutoMax gives you plenty of those. We sell only the best and most reliable pre-owned vehicles on the market. All our vehicles have been thoroughly inspected by licensed technicians and have been given the thumbs up before we put them on our lots. We know it’s important to be able to depend on your car to get where you need to go on time and without hassle.

#4: Making Your Monthly Loan Payment Is Convenient

We know you’re busy with a job, a family, and a social life. Sometimes time just gets away from you and before you know it, you’re late on a payment. That may even be how you got into this bad credit situation to begin with. At AutoMax, we want to help you succeed at rebuilding your life. That includes giving you tools to help you make your loan payments on time every month. At AutoMax, you can always make your loan payment in person at one of our dealerships, and we love it when you do because we like catching up with our customers! But you can also make your loan payment in several other ways.

• By phone or text
• Electronic payment from your checking account
• Automatic withdrawal on your debit card
• Online through our online payment portal
• Good old snail mail

#5: We Help By Providing You With An Opportunity To Rebuild Your Credit Score

Once you get a car loan from a bad credit car dealership, you’re on your own, right? WRONG! At AutoMax, we don’t stop there. We provide you with the opportunity to rebuild your credit history by reporting your on-time payments to Equifax every month. Many bad credit car dealerships in North Carolina skip this critical step. But it’s essential that the consumer credit reporting agencies know that you’ve turned over a new leaf and are making payments on time now. So we let them know about your good payment history with us. This can help boost that credit score.

Working with a local bad credit car dealership in North Carolina – like AutoMax – puts you in a good position for future success. If you need a new car but have bad credit, stop in today and visit us in Henderson or Youngsville, NC. We’ll take great care of you and help you through every step of the car-buying process. You’ll be back on the road in no time!

It’s finally happened. That old clunker you’ve been driving for the past five years has finally given up the ghost. You knew it would happen one day, but you were hoping it wouldn’t be today. Looks like it’s time to go car shopping again.

But wait…it’s been a while since you’ve had to buy a car and car prices have probably gone up over the past few years. Can you even afford a new car? Or a used “new” car?

And what about that situation you had a couple years ago that wrecked your credit score?

Oops. That was a bad time, but sometimes things happen. Ever since then, you’ve been a model consumer, paying your rent on time, making your utility payments…but still. Your credit score hasn’t recovered quite yet. Will anyone even loan you money for a new car?

The answer is yes!

Believe it or not, there are car dealerships out there that will loan money to people with bad credit. They’re often referred to as buy here pay here dealerships or bad credit auto loan dealerships. Regardless of what you call them, these dealerships provide in-house financing to people who have bad credit. They can do this because they’re willing to assume the risk involved in lending you money. They know that good people sometimes have challenges and they’re willing to work with you to get you into a reliable car that you can afford.

Sounds great, right? So where do you find one of these bad credit auto loan places?

Start At AutoMax In Henderson Or Youngsville, NC.

At AutoMax in Henderson, North Carolina, we specialize in offering auto loans for bad credit. It’s what we do. We know that sometimes our customers have had a rough road: the death of a spouse, a repossession, a foreclosure, a bankruptcy…or perhaps they’ve naively made bad decisions that have had unintended impacts on their credit score. This doesn’t mean they’re bad people. It just means they’re in a bad situation. It’s one they can usually recover from, but sometimes it takes a little help.

At AutoMax, we not only make auto loans for bad credit customers. We also help our customers by providing an opportunity to rebuild their credit score and get their financial life back on track.

Why Choose AutoMax?

AutoMax is a bad credit car dealership in North Carolina that’s focused on helping people solve their transportation needs and providing an opportunity to rebuild their credit at the same time. We’ve been serving the Henderson, Youngsville, Raleigh and Durham metro areas since 1989 and have made thousands of loans to customers just like you – customers who need new wheels but have had some bumps in their credit path. If you need a place that makes bad credit auto loans, AutoMax is the place for you.

We Take The Hassle Out Of Getting A Loan.

At AutoMax, we finance 100% of the loans we make in-house. We know what we’re doing and make the process of getting a bad credit auto loan as quick and easy as possible. We also provide other benefits, as well.

#1: Preapproval Is A Snap

Our preapproval process only takes a few minutes. All you have to do is answer a few simple questions, and you’ll have an answer within minutes.

Fill out our approval form online or do it when you come into our Henderson or Youngsville, NC, dealership. Filling out the loan application online is quick and easy and gives you the chance to get preapproved before you even walk onto the showroom floor. When you come to shop for your new car, make sure you bring the following items:

• A valid North Carolina or Virginia driver’s license
• A recent utility bill (to establish residency)
• Two recent pay stubs (to verify monthly income amount)

#2: We Take A Wide Variety Of Payment Forms

At AutoMax, we want to make the whole car buying experience as convenient for you as possible. That includes giving you different options for making your payments. AutoMax will take your payments through any of these methods.

• Automatic withdrawal on your debit card
• Electronic payment from your checking account
• Snail mail
• Phone
• Through the Internet via an online payment portal
• Text
• In person in our dealership

#3: We Provide You An Opportunity To Help Rebuild Your Credit Score

When you buy a car at AutoMax, not only do we provide the funding for your new ride, we provide you the opportunity to work on rebuilding your credit score, too. How do we do this? It’s simple. When you make the payment on your car each month, we report your on-time payment behavior to Equifax, one of the country’s leading consumer credit bureaus. By making your car payments on time each month, you’re actually helping yourself out. Other lenders like to see regular monthly payments being made on time. This gives them the confidence to lend you money in the future should you need a loan for some other purchase – like a new home.

That’s All Great. But What Kind Of Selection Does AutoMax Have?

We’re glad you asked! We have a great selection of cars to choose from on both of our lots. The vehicles you’ll find are all vehicles that have been inspected by licensed technicians before they ever hit our lots. Our cars all come with outstanding warranties that cover much more than just the engine and transmission. Our warranties cover things like the cooling system, suspension, braking system, and electrical system. Peace of mind is part of the deal here at AutoMax.

It’s Time To Go Car Shopping!

If it’s time for you to find a new car but you’re afraid no one will loan you the money for it, have no fear. AutoMax is here. If you live in Raleigh, Durham, Youngsville, or Henderson, North Carolina, stop in and see us today. We’ll be happy to answer any questions you have about bad credit auto loans. You’ll be back on track and behind the wheel in no time!

Have you had credit challenges at any point in your life? Chances are good that if you’re like most people, the answer is “yes.” Depending on the severity of the issue, a bad credit situation can be a nuisance; or in some cases, it can be a life-changing event.

If you’re one of the people who fall into the “life-changing event” category and you’re looking for a used car, it’s likely that you’ll run into roadblocks. But it is possible to buy a used car with a bad credit score.

Start Here.

Before you go out to buy a used car with bad credit it will be to your advantage to work on a few things first.

#1: Get A Job

Yeah, this sounds like a no-brainer, right? But for some strange reason, people don’t want to loan money to folks who don’t have a job. If this is you, get busy and get a job now. You’ll need to be able to show that you have a steady income before anyone will trust you with a car loan. Make sure you keep all your pay stubs so you can show them to finance people when you go ask for a car loan.

#2: Work On Your Credit Score Ahead Of Time

Do a little work on your credit score before you go out to buy a used car. Here’s where to start.

Check your credit report ahead of time. Make sure you know exactly what you’re dealing with. We know – it’s your life. But many people have no idea what’s on their credit report. Everyone is entitled to one free credit report per year from any of the big three consumer credit reporting agencies (TransUnion, Experian, and Equifax), so you have no excuse not to take this important first step.

Close old accounts. If you have open accounts that no longer have a balance, make sure you contact the creditor and get those accounts closed. Finance officers don’t want to see open credit lines on your credit report. It gives them the heebie-jeebies.

Be on your best behavior. If you’re considering a used car purchase anytime in the future, be on your best behavior from a credit standpoint. Pay your rent or your mortgage on time every month. If you already have a car that you’re making payments on, make sure those payments are made on time. Don’t apply for any new credit cards or open any other accounts. That’ll just make things harder for you.

#3: Make A Budget

Yes, it’s kind of a drag, but also kind of a responsible thing to do. Make a budget for your household. List your total monthly income and subtract out all of your monthly expenses to see what’s left. This is important to do before you go used car shopping. You have to know how much of a payment you can handle, or you’ll put yourself in a worse situation than you’re already in.

#4: Get Pre-Approved

The loan process will go more quickly if you can get yourself pre-approved for a car loan ahead of time. Visit your local banker and talk with him or her about your situation. It may be that you’ve done enough work on your credit score that they’ll be happy to lend you money. If not, there are other options, like bad credit car loans from a buy here pay here car dealership. More on that later.

Now It’s Time To Shop.

Once you’ve cleared the hurdles above, it’s time to go shopping! Looking for a used car is fun, but it can also be stressful. If you’re trying to buy a used car with bad credit, check out these options first.

#1: Traditional Car Dealership

Traditional car dealerships usually have a great selection of used cars of all makes and models. You’re likely to find a wide range of prices, too. Walk the lots and pick out the ones that you think will fall within your budget (remember that budget you made?). Then talk with the loan officer to see if you qualify. Remember that car dealerships often have stringent rules around who they loan money to. Based on your credit history, you may strike out here; or if you’re approved, you may pay much higher interest rates than the average consumer with a higher credit score will. Make sure you pay attention to those details.

#2: Local Nonprofit Agencies

Many cities have nonprofit agencies that offer used cars to low-income or bad credit residents. They may be free or offered for sale at a minimal cost. You may be eligible for a used car under one of these programs if you qualify. One such program to check out is Wheels to Work by Goodwill Industries. Talk with local agencies in your area to see if they offer used car programs for people with bad credit.

#3: Buy Here Pay Here Car Dealership

A buy here pay here car dealership is often the best option when it comes to buying a used car with bad credit. These dealerships specialize in helping people with bad credit get into reliable transportation that they can afford. They do this by making and carrying the loans themselves instead of farming them out to a bank. At a buy here pay here dealership – AutoMax of Henderson, NC, is a great example – you’ll find people who understand that bad credit often happens to good people. The qualification process for a bad credit car loan is typically quick and easy; you’ll only have to answer a few simple questions and prove that you meet the income qualifications (this is where that job comes into play).

AutoMax Wants To Help

If you want to buy a used car with bad credit, the folks at AutoMax – serving Youngsville, Henderson, and the Raleigh-Durham metro areas – can help. They’ll walk you through the bad credit car loan process, take you out to scour the lot for cars that fit within your budget and get you set up with a vehicle that has payments you can afford. Stop in at one of the AutoMax locations nearest you to talk with them about your situation. They’ll show you how you may be able to start rebuilding your credit score with a bad credit car loan from AutoMax.

A recent study found that almost 68 percent of Americans have destroyed their credit by age 30. That means that the majority of Americans have experienced unexpected expenses, a change in life events, or made financial decisions that cost them later. If you, too, have found yourself in this position, read on!

Working to repair poor credit presents a unique set of challenges, one of which is the ability to obtain a car loan. After all, a reliable method of transportation is pretty much non-negotiable these days. Additionally, most people can’t afford to pay for a vehicle in cash. For your average American consumer (good credit or not), a loan is usually the first point of entry when it comes to buying a new car. This can feel like a pretty formidable predicament if your credit is shot.

It’s Not All Bad News

While this situation seems daunting and possibly even hopeless, there is good news around the corner! Luckily, many dealerships offer a variety of bad credit car loans and financing options for your new ride. In fact, you’ll find that many of the bad credit used car loan options are much more flexible than can be found at a for-profit financial institution. These lenders tend to be a little more lenient and will get you on the road much quicker. That’s not to say poor credit doesn’t present some challenges, but it doesn’t have to destroy your ability to do the basics. Here are a few tips for securing the best loan possible, bad credit and all.

#1: Find Out Your Credit Score

While this may be stating the obvious, many people have never even seen their credit score. Even if you know that damage has been done, understanding the magnitude is a great first step. Many organizations offer free credit reports. Detailing out your credit report will help you pinpoint areas of focus. There may be certain pieces of your credit that can be fixed pretty quickly. Taking action in some of these areas will help you reap huge rewards and may land you on much stronger loan terms.

#2: Understand The Terminology

Many people get in a pickle when it comes to obtaining a car loan simply because they don’t take the time to become familiar with common loan terminology. You shouldn’t plead ignorance when it comes to the loan process; there’s a ton of good information available to help educate consumers. If you don’t take advantage of these resources, you may find yourself in an even more difficult scenario. Research key terms like “annual percentage rate,” “interest rate,” and “amortization.” For many consumers, this terminology is not commonplace, but speaking the lingo is extremely important when negotiating a dealership loan (especially bad credit car loans).

#3: Think Big Picture

When shopping for new wheels or a bad credit used car loan, it’s easy to get caught up in the monthly payment. In fact, the monthly obligation is where most people focus their time and energy. This is a huge mistake. Low monthly payments can be quite enticing, but they don’t always tell the full story. In fact, low payments often result in the consumer paying more than the car’s value over the life of the loan.

Instead, you’ll want to think “big picture” during the car buying process. Carefully review all the terms of the loan to ensure you’re getting the best value. Favorable terms generally include a low APR over a short timeframe. Keep that in your back pocket!

#4: Be On The Lookout For Scams!

Sadly, scams are a common part of the car sales process, especially for bad credit car loans. Researching common car scams will help you keep a keen eye open and avoid any pressure-filled slip-ups! Here are some common scams to watch out for.

Packed Payments. With this scam, the dealership increases monthly payments by an amount that may not seem like much at first glance, but it can stack up over time. You’ll probably see line items like extended warranties or GAP insurance on your bill. These are immediate red flags!

Bad Credit Scam. This scam is definitely targeted at people like you and offers another great reason to know your score before hitting the dealership. In this scenario, the dealer feels you out to see if you do, indeed, know your score. If you don’t come prepared, they’ll scare you into thinking you can’t get financing anywhere else. Often people with bad credit will settle for less than they deserve. The dealership is not required to disclose the score, so you can easily get snookered in this classic scam.

Finance Markup. In this scam, the dealership searches around for average interest rates. Then they mark up the rate offered to you by several percentage points. While this may not seem like a huge deal, a one to two percent markup can really add up over time and isn’t necessary to complete the deal. Make sure to shop around for rates before going with the rate you’re offered. You’ll be glad you took this extra step!

#5: Shop With A Friend

There is definitely strength in numbers when it comes to negotiating a car loan. Taking one of your closest friends or a knowledgeable family member can give you just the confidence boost you need to negotiate a loan with ease. Dealerships are more likely to take a step back if there is a team effort vs. a one-on-one encounter. That said, taking a companion shopping with you is a great way to fight the car loan woes. Again, there’s strength in numbers!

Still Worried About Your Loan?

If you’re still concerned that your bad credit score is ruining your chances for a quality loan, we can help. Our team at AutoMax is working for you! We’ve been serving customers in Raleigh, Durham, Youngsville, and Henderson since 1989. We offer excellent terms on bad credit used car loans for consumers in a tight situation – with none of the scams mentioned above. We pride ourselves on being extremely transparent throughout the entire process. Give us a call or come visit today!

Purchasing a new set of wheels is a huge commitment! Most likely, you’ll spend a large chunk of time behind the wheel each day, whether on your commute to work, around town running errands or to and from your various social engagements. You’ll want to pick a car that’s the perfect fit for you. Something that suits your personality, but also offers a lot of function for your lifestyle and day-to-day activities.

That said, purchasing a new ride is also a huge financial commitment. Most consumers don’t have the cash flow to pay for a car without seeking a loan or some sort of financing. For those with poor credit (or no credit), the thought of pursuing a loan is enough to create a downward spiral. It’s just a tough thing to get financing when you don’t have a good track record.

Luckily, an in house financing car dealer may be able to help. These buy here pay here dealerships make life a bit easier. A used car dealership with in house financing is a safe bet if you’re not sure that your credit will pass the test with a major third party financier. While many people are skeptical of an in house financing car dealer, expanding on how in house car financing works and what to look for in a good dealer may help ease some of this stress. Let’s take a peek!

A Snapshot Of In House Financing

Working with an in house financing car dealer isn’t as complicated as it sounds. In house financing just means that the dealership offers the customer special financing rates through the dealership. Unlike some of the larger financial conglomerates, a used car dealership with in house financing may not check your credit. They don’t have to work through the hoops of low-risk financial institutions; they’re willing to incur the risk on their own.

So what’s in it for the dealership? Most obviously, an in house financing car dealer benefits from this process by making the sale. After all, a large customer base is missed if they can’t obtain financing for the purchase. Merely making the sale on the car is a huge step for most dealerships. Secondly, the dealer profits from the interest on the loan. Similar to third-party lenders, this is a huge perk for the dealer.

The Plus Side

There are some definite “pros” when it comes to securing a loan through an in house financing car dealer. One of the most notable advantages is that you’ll be able to enjoy your new ride much quicker! When you eliminate the third-party lender, communication is simplified, and you can move through the process at a faster pace. A used car dealership with in house financing goes through a plethora of financing applications each day. It’s second nature to them to zip through the paperwork, so you’ll be well on your way in no time.

The second major advantage of financing through the dealership is that you’ll actually be able to purchase your new car! If you’re haunted by bad credit, this process can seem nearly impossible otherwise. However, with in house financing, it’s a lot easier to qualify, and you may be able to purchase a car after all. Once you’ve obtained the financing through the dealership, you’ll also have the opportunity to build your credit. Also, you may be able to refinance at a later date for better terms. This is great for generally responsible spenders who have hit hard times and need a break. It’s an opportunity to start fresh and repair some of the damage.

On The Flip Side

On the flip side, in house financing can create a few more hurdles. Getting over the hump can be challenging. One of the deterrents for in house financing is the perceived higher interest rates associated with this option. An in house financing car dealer knows that you don’t have many options when it comes to financing, but that doesn’t necessarily mean they’ll take advantage of you. Any entity that loans you money will expect to recoup a small percentage for that service. Banks do it and so do traditional car dealerships. Make sure you do some research ahead of time. You may be able to negotiate these rates, especially if you’re well-versed on the marketplace.

Another misperception is that dealerships pressure consumers to purchase vehicles beyond what they can afford. It’s true that there are some out there that may bundle a variety of items together, making the final package look like a great deal when it’s really designed to exploit your ignorance. The fast-talk can be confusing, but it can also be pretty convincing. As a consumer, It’s good to be prepared for this possibility. Equip yourself with a working knowledge of basic loan terminology. You should always work on obtaining the loan with the shortest timeframe and the lowest interest rate. The shorter the loan terms, the less money the dealership makes on interest. Your money is better served paying down the principle than floating toward unnecessary interest. While not all used car dealerships with in house financing will pull this stunt, it’s a good idea to be prepared for any situation.

Still Feeling Skeptical?

Purchasing a new car (especially when your credit isn’t great) can be an overwhelming and frustrating process. You may feel hopeless when trying to prepare for the big financial drop, but you’re not without options. An in house financing car dealer that’s on your side and has your best interests in mind (one like the AutoMax dealerships in Raleigh, Durham, Youngsville, and Henderson, NC) is the perfect match when it comes to financing your new ride!

Our friendly team is here to walk you through all the steps for financing your vehicle. Whether you’re highly seasoned on the process or buying your very first used car, we are honored to help navigate all your unanswered questions. Visit one of our North Carolina dealerships, and speak to an associate today!

Second to buying a new home, purchasing a new set of wheels may be one of the biggest financial decisions you’ll ever make. After all, you spend a lot of time in your car each day, and you want to fall in love with what you buy.

However, a new car is also a major expense. Before diving in, you need to make sure you can purchase the car without being strapped for cash from month to month. It’s essential to find a car within your budget and with terms that benefit you financially. All of these thoughts are major considerations as you navigate the world of car loans, monthly payments, interest rates, and everything else that comes with the process of purchasing a new car. That said, most people can’t afford to pay cash for a car. Even with a trade-in vehicle, it can be difficult to muster enough to cover the costs up front.

That’s where effective financing comes into play. As you begin to search for ways to finance your new car, it’s important to clearly understand all the options. Obtaining a loan from a financial institution is the most popular way to get money for a purchase such as this, but it can come with plenty of hoops. Another feasible option is to obtain in house car financing. An in house car financing dealership may have a leg up on other third-party financiers for a variety of reasons. Here are some of the more obvious benefits of purchasing your car from a dealership that offers in house car financing.

Check Out Our 4 Reasons To Go With In-House Financing

#1: It’s Easier To Qualify

Bad credit or no credit can often be a stumbling block for obtaining a car loan from larger for-profit banks and financial institutions. These institutions carefully review your assets as well as your work and credit history and make low-risk loans accordingly.

Regardless of how you got yourself into this predicament, you may discover that purchasing from an in house car financing dealership may be your best bet. Car dealers who offer in house car financing are generally more lenient and make the approval process a bit easier. That said, you can expect to pay higher interest rates and will probably incur a higher monthly payment. On the bright side, the barrier to entry is removed, and you’ll have the opportunity to refinance after one year of consistent, timely payments. This is definitely an excellent option for those in a tough spot with their credit.

#2: You’ll Get The Goods Faster

Another major advantage of purchasing through a dealership that offers in house car financing is that you’ll most likely get keys to your new car much quicker! You can avoid all the hoopla and time it takes to get pre-approval from a bank. The pre-approval process with an in house car financing dealership is much smoother, and you’ll have more flexibility with interest rates and warranty options. In house financing car dealerships receive a ton of applications each day, so their pre-approval process is highly efficient, and their turnaround time is generally top-notch. You’ll find you can drive your shiny new car off the lot the same day if you play your cards right. This sounds like a much better bet than spending two weeks collecting proof and paperwork and working through all the details that go with the loan process from a third party.

#3: You Can Get An Insider Special Discount

Car dealerships have the inside connection with the actual car manufacturer. As such, they are often the first to know if a new model is soon to be released or if a particular model simply isn’t selling very well. In these unique circumstances, the car dealership is looking to get these cars off the lot and are often able to offer you an even deeper discount on particular makes and models. These deals are sometimes packaged with the dealership’s special financing requirements so you’ll only be offered these steals when working directly with their team of in house car financing experts.

With this knowledge in your back pocket, it’s always worth the time to do a little research prior to visiting a dealership. If you have a particular car style in mind, it’s a good idea to know when the latest model was released and when the next one will be on its way. You might also do a little research on “best sellers” vs. the “not so popular” styles. Equipped with this information, you’ll be fully prepared to negotiate a deal!

#4: An Opportunity To Build Credit

Anyone who has recently dealt with an in house car financing dealership can attest to the possibility of a jump in credit score. Purchasing a car with financing through an in house financing car dealership is one of the best ways to quickly get you back on track towards achieving your financial goals. In house car financing gives you a fresh set of responsibilities and provides the opportunity to establish yourself for future loan needs. Make sure you pay on time and consider doubling your payment at least once per year. This may do wonders for your credit score and get you back to where you need to be!

Still Have Questions?

Yes, purchasing a new car can be pretty daunting. However, our Automax dealerships in North Carolina – in Raleigh, Durham, Youngsville, and Henderson – offer in house car financing that’s simply hard to resist. We can get you squared away with new wheels in a matter of minutes.

Our team is flexible, fun, and low-pressure, so your car buying experience should be a great experience every single time. If you have any questions at all regarding finance pros and cons, we can walk you through the steps in a way that makes sense. Give us a call or visit one of our highly rated dealerships. We’re here to help you find and finance your dream ride! What are you waiting for?

Purchasing a new car can be a huge financial commitment. In fact, next to a new home, it can be the largest investment you make. Many North Carolina residents spend a majority of each day behind the wheel, so selecting the perfect car takes time and energy. You want to find the perfect fit for you, your family, and your lifestyle!

That said, purchasing a new car also has financial implications. Chances are you don’t have the cash flow to pay for your new ride up front. A loan or some other sort of financing is generally the norm when it comes to a new car purchase, and for those with poor credit (or no credit), this thought can create a hopeless predicament. No matter how you’ve managed to ruin your credit (a silly mistake in college or a failed entrepreneurial venture), the reality remains the same. It’s challenging to obtain financing with poor credit.

There Is A Way Out!

If you find yourself in this boat, don’t panic! There is a way out of the bad credit hole. On the lot car financing is an alternative to a conventional loan, and it can help you get back on your feet. These in-house car financing dealerships create a pathway to a new vehicle that you may not find elsewhere. If you know your credit won’t pass the rigorous vetting done by a third party, this may be a viable option for you.

Take A Quick Look At In-House Car Financing.

Working with an in-house car financing dealer can seem pretty overwhelming if you’re not well-versed in the basics. At a glance, in-house financing means that the dealership offers customers special financing rates through the dealership. The dealer takes on the risk of financing the car in exchange for the profits earned from interest. Unlike some of the larger financial institutions that generally issue loans, on the lot car financing dealerships are less likely to do the deep digging into your credit score. This is great news for those with poor credit as your chance of obtaining financing for your new ride is dramatically increased.

Too Good To Be True? Not At All!

You may be scratching your head and thinking, “this sounds too good to be true.” Nothing could be further from the truth! The dealer benefits from making the sale, but you benefit, too. After all, if you can’t obtain financing, you most likely can’t make the purchase. While many dealers are interested in turning over inventory and increasing sales throughout the month, some dealers – like AutoMax in Henderson, North Carolina, for instance – actually want to help people with bad credit purchase reliable transportation. If you try to finance through a traditional third-party lender, there’s a good chance you’ll be shut down. You lose, but the dealer loses, too.

So What’s In It For You? Good Question!

There are some definite advantages of working with an in-house car financing dealer. One of the most apparent is that you may actually be able to afford your new ride! Working with an on the lot car financing dealership gives you the chance to need to start over. Loan approval time is also quicker than working with a traditional financier. At AutoMax, not only will you be approved in minutes, you’re guaranteed to be approved.

The other major advantage is that this process provides you an opportunity to start repairing your damaged credit. With timely, consistent payments, your credit score may improve. Be sure you work with a dealership that reports your on-time payments. The opportunity to start fresh is something you don’t want to overlook and is one of the biggest perks to on the lot car financing.

Evaluating Cost V. Benefit

As with anything, there are two sides to the coin. With in-house car financing, the dealership is taking on a risk most other financiers won’t touch. When you finance in-house, you’ll generally pay a higher interest rate than you’d get with a bank or other third party lender. These dealers know your options are limited if you have bad credit; since they’re carrying the loan themselves, they’re more likely to charge an interest rate that’s close to the legal limit as determined by your state. As a consumer, you’ll want to do your own research and negotiate the rate if you can. If you’re well-versed on market trends, it’s a lot easier to put up an argument for different loan terms.

AutoMax was started back in 1989 with the sole purpose of helping people with credit challenges purchase reliable transportation. We know that you can’t take your life anywhere without wheels. We help take the stress out of buying a used car by handling all the financing paperwork for you, and we’ll work with you to ensure that your new vehicle fits within your budget.

Still Not Sure This Is The Route For You?

In-house financing offers a great gateway to owning a new car if your credit is not up to par. While you may initially feel a bit frustrated at paying a higher interest rate, remember that this is just the first step to rebuilding your credit. Once you get your foot on the right path, you can quickly begin to work on your credit score, which may lead to bigger and better options for you in the future.

You Do Have A Friend In The Business!

AutoMax dealerships in the North Carolina metro areas of Raleigh, Durham, Youngsville, and Henderson offer in-house financing with your best interest in mind. We offer a wide selection of used vehicles and are happy to walk you through your first car purchase with us. We have flexible term options and a friendly sales team who will make you feel safe and taken care of throughout the buying process. Visit one of our North Carolina locations today and ask about our on the lot financing options. We are here to help!

Obtaining a loan is considered a necessary evil by some, but it’s a critical need when planning for your future. From buying a new home to purchasing a new car, reliable credit is an essential component of achieving many common life goals. Data suggests that many Americans find themselves with a poor credit score by age 30. Your financial health and viability are dependent upon responsible spending and building good credit as lenders review your credit score prior to any approval.

So What’s The Big Deal With Credit Anyway?

One reason so many people find themselves with bad or poor credit is the general lack of knowledge surrounding how credit works. Your credit score provides an indicator to lenders of how reliable and trustworthy you are as a consumer. In the United States, the Fair Isaac Corporation (FICO) calculates credit scores using several popular indexes. Your credit score is calculated based on several factors, including payment history, total debt, and new credit inquiries.

Missed payments, application for a new credit card, having a high debt to credit available ratio, and closing an account can negatively impact your credit score. These are things you don’t often think about until you have an emergency and it’s time to apply for a loan.

Let’s Do The Numbers…

You hear the terminology all the time: What’s your FICO score? Do you have bad credit? I have a credit score of 800! So what does all this mumbo-jumbo mean? FICO scores range anywhere from 350-850. Here’s what they mean to you:

• Bad Credit: Bad or poor credit scores tend to include any score below 579. According to Experian (one of the indexes used to determine credit scores), borrowers with scores in this range are highly likely to miss payments, pay late, or default altogether. Those with bad credit will have extreme difficulty receiving financing from any lender.
• Fair Credit: Borrowers with scores ranging between 579 and 669 are considered to have “fair” credit. These borrowers offer a little less risk than those with bad credit. However, they may run up against higher interest rates and may or may not have some stumbling blocks when it comes to obtaining a loan.
• Good Credit: Scores higher than 669 denote extremely reliable borrowers. These consumers have proven their ability to pay money back and are considered a low risk by lending institutions. They should have no problem obtaining a loan with a competitive interest rate.

I Have Bad Credit And Need A New Car. Now What?

Having bad credit can come with a variety of uncomfortable challenges. You may experience issues getting financed for primary goals like buying a home or refinancing a current loan. These challenges can be especially painful when you need to buy things required for day-to-day life.

Think about this scenario: Your car breaks down, and it’s just as expensive to repair it as to buy a new one. However, you’re strapped for cash and need to get a loan to make this purchase. Looking at your credit score, this situation becomes all the more daunting. Luckily, a bad credit car dealership may be able to lend a hand. Also known as a buy here pay here dealership, it can offer in-house loans at special financing rates and terms that may help you while you’re in a pickle.

Use The Situation To Start Working On Your Credit With Bad Credit Car Financing.

While poor credit can seem like an almost impossible hole to escape, there is good news on the horizon! Bad credit car financing is a real thing offered by a buy here pay here dealership. In fact, a bad credit car dealership can actually benefit you as you begin the credit repair process. Here are a few of the many advantages of this type of buy here pay here dealership:

• Flexible Terms: Bad credit car financing terms are pretty flexible, as the dealer is taking ownership of the loan. There may be wiggle room in these terms, so make sure you read the finer details and ask questions before signing. Negotiating the terms of the loan can reduce your payments and help you on your way to repairing damaged credit.
• Extra Incentives: Often, a buy here pay here dealership will extend special incentives to consumers who obtain a loan through the dealer. They work directly with the manufacturer and are charged with getting inventory off the lot. If there is a particular model that’s been sitting for a while or if the newest version will be released soon, they can offer you a discount on these cars. It’s important to ask these questions and lower the loan amount as much as possible. Again, reducing your monthly payment amount increases your chances of success.
• A Chance to Prove Yourself: Using a bad credit car dealership gives you an opportunity you won’t find elsewhere. They’re banking on your future earning potential rather than focusing on past mistakes, which is something you won’t find with a bank or other third-party lender. This alone is reason enough to work with one of these dealerships.

Still Stressing?

Don’t! If you’re still worried about the loan approval process, give our team at AutoMax a call. We are a bad credit car dealership that’s here to help, offering great loan terms for consumers in a tight situation. With locations in Henderson and Youngsville, NC, we are also conveniently located near the Raleigh-Durham area, as well as other major North Carolina metro areas. It’s time to get on the road in your new dream car. Let AutoMax help!