Buy Here Pay Here: Rhode Island (RI)

Buy Here Pay Here Car Dealerships in RI
Locate The Right In House Financing Car Lot - Online!

Why not finance a car without a bank loan? Believe it or not, it’s easy!

Traditional banking institutions and creditors cannot grant auto loans to individuals with a bad credit score.

In House Financing Vs . Typical Used Car Dealers

You might be curious to know how these types of car lots are able to offer credit when traditional loan companies can’t. For starters, you ought to understand how a standard car dealership does car financing. In a nut-shell, car dealerships associate themselves with certain finance companies, such as banks, credit unions, and car finance lenders.

The loan originator is the one who in reality lays out the credit and down payment requirements. Buy here pay here car dealers, on the other hand, offer auto loans in house; this means they aren’t dependent upon the banks and conventional creditors. This makes it more convenient for you to get a new vehicle with a low credit score, while making it much much easier for them to market cars to the 210,513 folks in Rhode Island with a bad credit score.

Is Buy Here Pay Here The Best Choice?

Buy Here Pay Here Car Dealers in Rhode Island
Find The Right Lender!

But wait! Is buy here pay here financing truly the right option? There are a variety of lenders who deal with the non-prime customer base. Actually, these car loan companies may offer better rates of interest, reduced down payments, and an improved chance to improve your credit. After all, buy here pay here car dealers have got a few key downsides: higher than average car loan rates, substantial down payments, and no chance to re-establish your credit.

You’re in luck. Here at Car Lots USA, we work with a diverse variety of pre-owned car dealers and lenders.

The process is quite pain-free:

  1. Apply Online.
  2. Research RI Car Prices While You’re Matched with the Perfect Dealer or Financial Institution.
  3. Buy Your Vehicle!

In House Financing Car Payments in RI

Rhode Island residents, according to the US Bureau of Labor Statistics (, earn $41,646 yearly. Experts recommend dedicating no greater than 10% of every buck you make on automotive-related expenses. For the people of RI, this translates to $4,165. But remember, you need to think about the cost of insurance ($820 per annum in RI), as well as the price of gas ($2.73 per gallon as of 2008 and on the rise). This should be plenty of money to finance a used car with bad credit.

Pre-Owned Cars You Don’t Want to Buy

Rhode Island Buy Here Pay Here
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If you are purchasing a pre-owned vehicle, there are some cars you might want to avoid. How come? Because these cars and trucks are the most common targets of thieves in Rhode Island.

  1. 1994 Honda Accord
  2. 1995 Nissan Maxima
  3. 1993 Honda Civic
  4. 1991 Toyota Camry
  5. 1997 Dodge Caravan

Rhode Island Buy Here Pay Here Financing