Buy Here Pay Here Car Lots in Connecticut (CT)

Buy Here Pay Here

Shopping for a new car, truck, or SUV in Connecticut?  Have you been turned down for an auto loan before?

Don’t worry — more than 1 in 4 car buyers suffer from a credit score of 620 or less. Many banks, credit unions, and other traditional car lenders rarely approve 600 credit score auto loans or less.

Buy here pay here car lots, on the other hand, extend credit to their customers directly out of their own pocket. They are typically flexible when it comes to credit problems like bankruptcy, foreclosure, or repossessions, and trade-ins are nearly always welcome.  You make your car payments to the dealer directly, not a third-party.

>>To Get Approved for BHPH Financing in CT, Click Here!

Buy Here Pay Here in CT
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In just 3 minutes, we can help you get approved for financing from one of the many buy here pay here car lots in our Connecticut dealer network. When you submit your application, our online service will go to work matching you to the best CT buy here pay here car dealer given your individual credit profile, income, down payment, and vehicular needs. With your credit already approved for financing, you can step onto the car lot with added confidence and negotiating leverage. It puts the fun back in car shopping, enabling you to focus on the car you want, not the financing you need approved.

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Buy Here Pay Here Buying Tips

Pre-owned vehicles are at the core of most BHPH car lots in Connecticut. This is usually the smartest option if you’ve had credit problems. New cars depreciate by 20-25% the moment the tires hit the street. That’s because car buyers pay retail, but as soon as the car is sold, dealers will only pay wholesale to get it back. A vehicle for which you agreed to pay $20,000 over a 60-month period may be worth only $15,000 before the first month is up. The result is what’s known as an “upside down car loan,” and nobody who’s been caught underneath one is likely to recommend it, especially if you ever want or need to sell the vehicle before it’s fully paid off. After all, you’ll have to come up with the extra cash to pay off the loan. A preowned vehicle, on the other hand, has already undergone this initial drop in value.

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Most financial experts recommend spending no more than 17-20% of your monthly budget to vehicle payments and costs.  Monthly car payment is not the only factor. Gas, car insurance , maintenance, registration and title fees, and any other expenses such as municipal transportation or other cars all factor into this equation. So if you make $2500 monthly, you should spend around $500 on combined vehicle costs.

Buy Here Pay Here: Bad Credit Made Good

There are 2 oft-mentioned methods of repairing your credit score: secured credit cards and significant installment loans. Secured credit cards are designed to help those with damaged credit begin rebuilding their score. It is “secured” by a savings account that holds sufficient funds to pay off the credit extended.

Loans for vehicles or homes are another way to build your credit. Although most mortgage lenders are more discriminating about problematic credit history, a BHPH car dealer can grant you an auto financing loan. If you make your payments on a timely basis, and your dealer reports your payments to the credit bureaus (make sure they do), then your new car can be a powerful way to rebuild your credit.