Buy Here Pay Here Car Lots in Michigan (MI)

Buy Here Pay Here

BHPH Car Lots in MI
1000's of Cars, $1000's of Credit

Are you shopping for a new car in Michigan? Have you been turned down for an auto loan before? You’re not alone — more than 1/4 of the US populace suffer from a poor credit rating. And sadly, most banks, credit unions, and other traditional car lenders rarely approve 600 credit score auto loans or less.  But buy here pay here car lots extend credit to their customers directly.

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 Michigan dealer network. When you submit your application, our online service will go to work matching you to the best Michigan 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.

MI Buy Here Pay Here
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Benefits of Pre-Arranged Financing

  1. Maximized Negotiating Leverage.
  2. Minimized Fear of Credit Rejection.
  3. Increased Attention to the Car, Truck, or SUV You Want.
  4. Less WORRY, More FUN.

Financing a Pre-owned Vehicle:  The Smart Option

Pre-owned vehicles are at the core of most BHPH car lots in Michigan. This is usually the best choice if your credit history is marred by bankruptcy, repossession, or poor credit in general. New cars depreciate by 20-25% the moment they leave the showroom floor. 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 “negative equity,” and nobody who’s been caught “upside down” 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 — often several thousand dollars.

A preowned vehicle, on the other hand, has already undergone this initial drop in value, so you’re less likely to fall victim to the burden of negative equity.

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Repairing your Credit with a Buy Here Pay Here Car

There are two oft-mentioned methods of boosting your credit : secured credit cards and big installment loans. A secured credit card is 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 card balance.  Large installment loans include car and home loans.

Most mortgage lenders are picky about problematic credit history — particularly if it’s recent — but we can often find you a Michigan BHPH dealer willing to extend you credit. If you make your installment payments on a timely basis, and your dealer reports your payments to the credit bureaus (make sure they do), then your new car or truck can be a high-horsepower way to rebuild your credit.