Car Selection Process and Dealers who Buy Here-Pay Here

A quality used vehicle is a difficult task for used car buyers who have poor or no credit. Many high-end dealerships won’t lend money to someone with poor credit. That means you have to buy a car outright or get financing on the spot, more info?

The how and why behind on the fly financing has been discussed in our previous articles. However, we still haven’t addressed how to select your car at a dealership that offers on the fly financing.

You may be wondering how you can get an automobile through instant financing. This is not the usual way of doing things. There’s no way to just walk into the dealership and choose any car, then go home with it. They base their selection on your credit history and the flexibility of your monthly budget. The dealerships that offer on the spot finance will not let you purchase a vehicle you are unable to afford. This would be unresponsible. It’s their goal to get you on the road again in a car within your budget.

In this case, if you are not in a position to afford a new 2011 Mustang, your best bet is to get an older, more reliable vehicle. Your monthly payments will be cheaper in such a situation. You will get a newer and nicer vehicle if your budget is more flexible and your credit rating higher. The higher the monthly payments, however, will be the case if you choose a newer car.

In fact, dealers that offer financing on the spot are eager to serve you. The approval, finance and selection processes can be cumbersome at times, but that’s just so the dealers can serve you best. In the event that they approved you for a new 2011 Mustang when you can only pay $100 each month, this could lead to serious financial problems. Your credit could also be further damaged. When you visit a financing dealership, keep in mind this. It is important to be cautious of less-than credible dealers and trust those who know their stuff and do all they can for you.

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