August 1, 2014

Buy Here Pay Here Car Lots in Maryland (MD)

Buy Here Pay Here

If you want to finance a car in Maryland with poor credit or bankruptcy, then Buy Here ‘N Pay Here can help. Most banks, credit unions, and automaker finance departments rarely approve financing for buyers with bad credit, no credit, repossession, foreclosure, or bankruptcy.

Buy Here Pay Here Cars in MD

3 Mins to Apply, Bad Credit OK

BHPH car dealers, on the other hand, offer in-house financing. That means they lend you the money for your car out of their own pocket rather than going through an indirect lender, and they are much more willing to accept financing applicants with less-than-perfect credit. You make your car payments to them directly at the car lot, by phone, or by the internet on a weekly, biweekly, or monthly basis.

BuyHereNPayHere.com can help you get approved for financing from a buy here pay here car lots in Maryland near you. When you submit your application, our online service will go to work matching you to the best Maryland buy here pay here car lot given your individual credit profile, income, down payment, and vehicular needs. With your credit already approved for financing, you’ll enjoy the following benefits:

  1. Amplified Ability to Negotiate
  2. Minimized Anxiety
  3. Zero Fear of Credit Rejection
  4. Increased Focus on the Getting the Best Deal

Tips for Buying a Used Car

Local Used Cars

Find a Dealer Near You!

Pre-owned vehicles are at the core of most BHPH car lots in Maryland. This is usually the best choice if your credit history is marred by bankruptcy, repossession, or poor credit in general. New cars depreciate to only 75% of their original value as soon as the tires hit those Maryland streets.

So, for instance, you’ll suddenly owe $15,000 for a new car that’s worth only $12,000. If you want to sell the vehicle, you’ll have a significant sum of debt to repay which selling the vehicle won’t cover.

Trading in Your Existing Car or Truck

Unlike many traditional dealers, BHPH car lots are receptive to trade-ins, giving you a better chance to roll the value of your old vehicle into a down payment for your new one. Down payments will reduce your car payments considerably and help you avoid the trap of negative equity as discussed above.

Your New Car:  Smart Budgeting

Most financial experts recommend dedicating no more than 18-20% of your monthly budget to vehicle payments and costs.  Gas, insurance , maintenance, registration and title fees, as well as other costs such as municipal transportation or secondary vehicles all factor into this equation. So if you take home $3500 per month, that’s $700 to spend.

Buy Here Pay Here: Bad Credit Made Good

Everyone knows that taking out an auto loan and repaying it on time will gradually increase your credit score.  If you want to take advantage of this side benefit to financing a car through a BHPH dealer, then ensure the dealer reports debt repayment to the credit bureaus.

Often after you build a few months worth of good history making your payments, you can refinance your Maryland car loan through a more traditional lender, which can lead to lower interest rates.

Apply for Buy Here Pay Here Financing