Why not buy a pre-owned car or truck with no loan from the bank? You can!
Old fashioned banks and loan providers won’t approve auto loans to individuals that have a bad credit score.
What Does Buy Here Pay Here Mean?
In Connecticut, buy here pay here is also known as in house financing. You’ll find that many used car lots in Connecticut effectively use outside agencies for automobile financing. When you get approved, the lending company actually buys the car, and your monthly payments go to the lender. As CT in house financing car dealerships offer automobile financing direct to the consumer, they bypass the strict credit standards made by standard loan providers. Of course, this makes it possible for them to sell cars to a larger range of consumers.
Is BHPH The Right Option?
Do not forget that buy here pay here auto lots are not the only choice for folks with unfavorable credit ratings. Let’s be honest, in house financing car lots do have their drawbacks: excessive annual percentage rates and substantial down payments, coupled with no opportunity to rebuild your credit.
Why not let us assess which of the car loan companies is best for your needs? Just complete our simple web form, and our cutting-edge application program will locate the car dealership or lender that best suits your needs, considering your credit score, location, and down payment.
Monthly Income and Payments
Here is a straightforward breakdown of the amount the average Connecticut motorist ought to commit to a used vehicle.
Used Cars You Don’t Want to Buy
When shopping for a pre-owned vehicle, you might want to avoid a few cars. Why? Because these cars are the most common targets of thieves in Connecticut.
- 1994 Honda Accord
- 1995 Honda Civic
- 1994 Acura Integra
- 1996 Nissan Maxima
- 1991 Toyota Camry