We specialize in bad credit and no credit car loans with out getacar123 guaranteed finance program. This program is not a “buy here – pay here” program… it’s better.
What is Buy here Pay here?
Buy Here Pay Here (BHPH) financing means that you arrange a loan and make payments on it at the dealership. You purchase the car through what's referred to as in-house financing versus through a third party, such as a bank. Instead of making monthly payments to a traditional lender, you make weekly or bi-weekly payments at the dealership. Although some BHPH dealerships will accept payment by phone or online, many require that you physically bring a check or cash to their location. You therefore "buy" the car at the dealership and "pay" on the loan at the dealership.
What does getacar123 provide?
Most Buy here pay here programs do not help rebuild your credit because they do not report your loan payments to the credit bureaus. We do! Our program generally features a short-term loan allowing you to pay your vehicle off quicker and enabling your credit to increase by reporting timely payments to the credit bureaus. This will put you in a better equity position faster and into a newer vehicle when your credit rises and you are ready for another vehicle. We also have the ability to customize terms to be more flexible and affordable to your budget. These loans aren’t fixed by an array of qualifications and charts. We guarantee you finance and we can make it fit your budget all in order to put you in a better position in the future.
Why not just pay cash?
You may be wondering why you should even apply for a car loan from a sub prime lender. After all, paying cash for a vehicle, while using a regular or secured credit card, can often improve your credit scores. The fact is doing this probably wont help your auto credit, even if it improves your FICO scores. The reasoning behind this is that any type of credit card is a form of revolving credit. With revolving credit if you don’t pay off your card balance every month, you are allowed to carry over the remaining balance to the next month.
An auto loan, on the other hand, is a type of installment credit. With this type of loan you sign a contract to pay back the initial amount, plus interest, for a fixed payment each month over the loan term. Another difference that separates installment credit from revolving credit is that installment loan balances are typically higher than revolving credit limits. Installment loans also carry a higher monthly payment as a percentage of the loan balance and are much less flexible to changes. This means installment buyers have to be more disciplined in paying back the loan.
