Bad Credit, Zero Down Car Loans? YES!

Leasing vs Buy Here Pay Here Charlotte NC Dealership

What the Best Choice Is for People with Bad Credit

What the Best Choice Is for People with Bad Credit: Car Leasing or Buy Here Pay Here Charlotte NC?

If you have a bad credit score, then you will know that you don’t have a lot of options when it comes to getting loans. This will also include house financing, auto financing, mobile plans, etc.

However, there are still ways that you can get around your low credit scores and be able to get a good Charlotte used car to get you where you need to go right away. Keep on reading to find out whether leasing a car or going to a buy here pay here Charlotte NC car dealership is the best choice for you.

What is Car Leasing?

Car leasing is essentially when you contact a leaser and see if you will get approved to lease a car from them. If you get approved, you will agree on a set amount of money that you will pay each month to them.

Usually, these payments are very low depending on the person that you are leasing it from. More often than not, they are quite affordable because you are considered to be only leasing a part of the car.

Getting the Loan that You Need with Pay Here Buy Here Car Dealerships

The issue with leasing a car is that you will have to return it after a certain period of time is over, which is the amount of time that you agreed on with the person you got the lease from. However, this is good especially if you want to be able to upgrade your car choices in the future.

Just be aware that you may be faced with high interest rates. This is because of your bad credit score, because you are still seen as a high risk client to the leaser.

Additionally, you may have a harder time trying to get approved for a car lease. Your credit scores will reflect on the final decision of the leaser, so it will be dependent on them as to whether or not you will be approved. Thankfully, you can try applying and showing them your current income to see if that would make it easier to get approved.

 

What Is a Buy Here Pay Here Car Dealership?

A buy here pay here car dealership is a dealership that offers buy here pay here car loans for people with low credit scores or no credit score.

What the Best Choice Is for People with Bad Credit

A buy here pay here dealership is usually more than ready to take on clients who have bad credit scores because they also want to be able to earn money by giving you money to buy their cars for sale. In return, you will be in charge of paying them back for the car loan throughout an agreed amount of time.

There are a lot of benefits that come with getting a car from a buy here pay here car dealership. For example, you often to get to choose a car from what is available, like a car truck or SUV. Additionally, you will also get to choose how long the repayment period would be for your car loan.

You get to choose if you would like to pay off your loan within as quick as three years or as long as 7 years, the choice is all up to you. The car dealer will only want to make sure that you will pay them back, so being able to choose how long it will take to pay them back will let you be more comfortable and able to pay it off, just be wary of high interest rates as well.

All in all, car leasing and buy here pay here car dealerships both have their advantages and disadvantages, but buy here pay here methods are usually a better option.

The money that you invest in paying back the loan will let you own the car, rather than return it like in the car lease. Basically, a buy here pay here dealership will give you more bang for your buck.