Last Chance Financing from Buy Here Pay Here Dealers

With problems such as bad credit, auto loan delinquency, bankruptcy, or past repo, getting approved to finance a car can be a grueling undertaking that takes weekend after weekend, if not month after month. 

Despite advertisements to the contrary most credit unions and banks rarely approve applicants with subprime credit. That is because they see bad credit as risky borrowers.  It's only logical:  if your credit history does not demonstrate a good record of debt repayment, why would they be willing to lend you money for a new car?

For those who have been turned down at least once before the best resort is in-house financing from local buy here pay here car dealers.  These guys regularly approve last chance auto financing for people with:

• Bankruptcy
• Delinquency
• Repossession
• Credit Card Debt
• Unpaid Medical Bills
  

Like just about any industry, however, there is no free lunch.  You will pay a premium in terms of your interest rate to finance the car you need.  Rates of 15% or higher are not at all uncommon, though the industry is currently experiencing some of the lowest rates in years. 

The cars are nearly all used.  What's great for those with poor credit is that a used vs new car of the same model is likely to have: 

• Cheaper Car Payments
• Cheaper Insurance

You should also be wary of the dealer scams more common to smaller lots:  these include yo-yo tactics, loan-packing,  variable interest rates, extended warranties, putting auto loan in cosigner's name.

Do you think Buy and Pay Here is right for you?  If you have have damaged credit, or none at all, then you should check out buy here pay here car lots in PA.  At this site you can get pre-approved for financing in all 50 states, not just Pennsylvania.