Posted Thursday, May 02, 2019
Have you ever gone to a bank to get your loan approved for a used car? Or thinking of going to one? What is the purpose of taking a loan? Are you going apply for used car financing? Have you ever thought what could be the problems you could face with bank financing? There are many problems associated with bank financing vs. Buy Here Pay Here financing. Let us tell you something. Bank financing can be really painful sometimes. If you are financially unstable and still want to apply for a used car loan your application will surely get rejected. There is no doubt about it. Even if you try so hard getting it improved if you have a bad credit your application will definitely get rejected. Why is that so? Because every bank wants to make sure that a person applying for a loan is capable of paying its dues.
Your credit history or reputation is very important for banks. If you earn so much and have no issues with your credit score than it will be very easy for you to get your used car loan approved. Not only credit score is the main problem but bank financing comes with many more issues too. There is a lot of documentation proof required by the bank. It includes everything you own and earn. Your income proof etc. etc.
Every bank has its own strict policies and rules which should be followed. Even if you get your used car loan approved somehow and make periodic payments on time, if you make one mistake of paying one payment late due to your own negligence or due to low credit, some banks can seize your assets according to their policy. You not only lose your credit but also your asset. It also negatively impact your credit score. With low credit scores, it will be difficult for you to get your loan approved in the future.
There is also a repay burden always on your mind. If you lose your job or have less salary as compared to a previous job or your house expenses have doubled than paying a huge payment of the loan can become really difficult for you to pay.
These were all the problems associated with bank financing. If you face any of the above-mentioned problems then don’t even think to apply for used car financing from a bank. There is an alternative option available for you which we will discuss below.
Have you ever heard of “Buy Here Pay Here” method? Also known as Buy Here Pay Here method. Let us give you a short overview of it. BHPH refers to a method where a used car dealer is a bank in itself. It provides purchasers an opportunity to buy used cars even if they have a bad credit history.
This was the overview of this method. Let’s get into more details. As far as bank financing is concerned this method is the complete opposite of that. Even if you have a poor credit history you will get financed by the car dealership.
Let’s suppose your used car loan application gets rejected from the bank and you are really in need of a used car. What will you do? Will you think to apply again in some other bank? Let’s stop right there because there is an awesome option available for you. The Buy Here Pay Here method. It will not only approve your loan for a used car but also comes with benefits too.
The In-house loan support is so beneficial. You just go to the dealership and you will get approved at the spot. Just select the used car you are interested in from their inventory and you are good to go.
Now you don’t have to wait for the bank to process your application. The In-House support is so fast that you will get your used car loan approved immediately. You can also discuss the flexible terms with the dealership. If you want a three, four or five-year plan, you can do that by setting your terms of repayment with the dealership. You can also select from weekly monthly or bimonthly installment plan according to the terms of the dealership.
If you are still thinking that you have low credit or no credit or bad credit repo just stop thinking about that. With BHPH method everyone gets approved. That is the main advantage of this method.
Now you don’t have to worry about how you can get financed for a used car. If you want to gift a vehicle to someone or buy it for your own house “Buy Here Pay Here” has made it very simple for you. Now, you don’t have to overthink again for bank financing or getting your application approved. Just go to a BHPH dealership and get yourself a good deal out of it. Not only it will be a good deal but you will also make an asset for yourself. And in the end, when you have cleared the all the dues of dealership you can apply for more vehicles.
Now the question where you can find good Buy Here Pay Here dealership which can offer all the benefits mentioned above. Well, you can find all these advantages at EZ AUTO Lakeland.
Bad Credit? YOU WILL BE APPROVED
No Credit? YOU WILL BE APPROVED
Previous Repos? YOU WILL BE APPROVED
Open Auto Loans? YOU WILL BE APPROVED
No Social? YOU WILL BE APPROVED
With EZ AUTO Lakeland you will get clean and quality inventory. Every Used Car is deeply inspected by certified mechanics. Each used car has 6 months or 7500 miles nationwide warranty. The Used Car Inventory includes Coupe, Sedans, SUVs, Trucks, Sports Cars, etc.
That was the overview of the EZ AUTO Lakeland dealership. If you want more in-detail information you visit them in person or contact them through website via chat or contact number.
If you are in need of a used car but do not have perfect credit, and you are located in Lakeland, Mulberry, Plant City, Davenport, Bartow, Haines City, Winter Haven, Auburndale, Polk City, Zephyrhills or any other nearby city in Polk County, visit us and we will show you all the used car inventory available and help you set up financing through our Buy Here Pay Here program