Plus, How To Use Your Current Vehicle As A Down Payment
Buy here pay here car lots in the Raleigh-Durham area, like AutoMax, help people with challenged credit get financing toward the purchase of a nicer, newer car. Once buyers of these used car dealerships pay off their car loans, they own their vehicles outright and no longer need to make monthly payments to the pay here buy here dealer until it’s time for a different vehicle!
Trading Your Buy Here Pay Here Car To Another Dealer
If you want to, you can trade in your fully paid-for buy here pay here car, truck, or SUV to any other dealer, to put toward the purchase of a new or used vehicle for sale. Traditional dealers near you will look over the car you’d like to trade in, and offer you a very low dollar amount to put toward your significantly-sized down payment. They base their offer on a very brief appraisal process.
First, a designated person at the dealership will borrow your keys so they can get important information from your car. (We recommend bringing your spare keys to do this, so you have your original set.) This person may ask you questions about your car. They often want to know things like how old your tires are or whether your car has ever been wrecked or damaged. They use these basics to look up comparable used car values in the area.
Then, they’ll examine your car, either quickly or with a fine-toothed comb. Some appraisers at traditional car dealerships will make note of every little thing they find that they consider “wrong” with your car. If you are watching the process, you don’t need to talk unless they ask you a specific question. The appraiser will check your vehicle’s VIN to verify its history, and some may even ask to drive your car.
Finally, the car dealership takes all the information they’ve gathered, including make, model, year, mileage on the car, and any features and amenities, considers how much they’d need to spend reconditioning the vehicle before they could resell it on their lot, or what other fate they may deem your car worthy of.
The appraiser will use all of this information to value your trade. The salesperson at the traditional dealership will let you know how much money they are willing to give you for the value of your car to put toward your down payment for a vehicle that you buy from them. At traditional dealerships, the amount you’ll be offered for your car will be very low and insignificant, unless your vehicle is in perfect condition, with low mileage, and a desirable make and model.
Then, the salesperson will attempt to find you an auto loan lender. But if your credit score is too low, you can expect higher-than-normal monthly payments that are outside of your budget, and an obscene interest rate, if they approve you for anything at all.
Trading In Your Car At A Buy Here Pay Here Dealership
If you’ve purchased your current car from AutoMax, a buy here pay here dealer near Durham, North Carolina, and you come back to purchase another car, you can expect the same great customer service you got from the team when you first visited.
When you return, you can let the helpful salesperson know that you’d like to trade in your AutoMax car for a nicer, newer one. And although your car will still need to go through an evaluation process to determine its value, you can be assured that you’ll get the most value from your car when you trade it back in at AutoMax.
AutoMax buys your vehicle at a fair market price, and then applies it to our already-low down payments. You can even complete our online trade estimator before you come visit, and we’ll get back to you about how much we’d offer you toward your down payment.
Once our finance experts calculate the car payment that will fit into your lifestyle, you can use this information to identify cars you’d like to take for a test drive. All of our car listings include a minimum down payment, which makes it even easier to see just how far your trade will get you toward a better car at AutoMax. Our reasonable down payments start at less than $400!
What Happens To The Vehicle I Traded In?
Feeling nostalgic about all the good times you had in your AutoMax car? We don’t blame you! Our reliable used cars take our customers everywhere and help them make incredible memories with their friends and family.
If your car can be resold on a used car lot, it will be reconditioned and thoroughly inspected and cleaned before it’s made available for someone else to buy. However, if you drove in an older car, one with high miles, or a vehicle that needs significant mechanical or cosmetic repairs, your car may be taken and resold at an auto auction, where people usually buy very inexpensive cars with unknown histories that may need a lot of work, or cars that people are looking to sell right away without entertaining prospective buyers. (Auto auctions are not a great place to find a guaranteed reliable vehicle — AutoMax can help you find one, though. Just check our huge inventory of quality used cars on our lots in Henderson or Youngsville.)
What Kinds Of Cars Can I Find At AutoMax?
When you trade in your car at AutoMax, you’ll be able to put its value toward a down payment on the vehicle of your choice. On our car lots near Raleigh, you’ll find used sedans, coupes, SUVs, trucks, and vans. Our customer service-oriented salespeople can help you pick the right one for you, based on how you’ll use the vehicle and the amount you’re comfortable paying each month for your car payment.
Once you’ve selected your vehicle, our finance experts will complete your in-house financing process for your car loan and show you how you can make your payments directly to us each month, instead of a third-party bank or credit union. You will even be able to drive off our lot in your nicer, newer vehicle the very same day.
Ready to trade in your old car and get upgraded? Visit AutoMax at either of our locations, both just a short, money-saving drive from Raleigh and Durham: 519 North Garnett Street in Henderson, NC; or 512 US Highway 1 in Youngsville, NC. Learn more.