Are you shopping for a new car in West Virginia? Have you been turned down for auto financing before? Our network of WV Buy Here Pay Here car dealers can approve credit applicants with all sorts of hardships such as…
- Poor Credit OK
- No Credit OK
- Bankruptcies OK
- Repossessions OK
- Foreclosures OK
To begin, just complete your online application. It takes only 3 minutes, and there are ZERO obligations, hassles, or fees. Within a short time you can be notified if a local WV dealer will pre-approve you for in-house financing.
Advantages of Pre-Arranged In-House Financing
- Increased Ability to Negotiate
- Minimized Anxiety
- No Fear of Credit Rejection
- Increased Focus on the Car You Want
Buying a Preowned Vehicle
Most buy here pay here car sales in West Virginia are for used cars. This is usually the smartest option if your credit history has been marked by bankruptcy, repossession, or poor credit in general. New cars lose up to 1/4 of their value the moment the tires hit the street. That’s because you pay retail, but as soon as the car is sold, dealers will only pay wholesale to buy it back — a tight spot if you want to trade it in.
Putting money down is always a good idea if you have or can get the cash. It will reduce your car payments and possibly improve the terms of your car loan. Fortunately, buy here pay here dealers are especially flexible when it comes to trading in your existing vehicle. Many dealers might not be as accepting of your trade-in if it doesn’t match the existing cars on the lot in terms of condition, age, and make. But with a BHPH dealer you’ll have a better chance to roll the value of your old vehicle into a down payment for your new one.
Most financial experts recommend dedicating 1/5 of your monthly income to transportation costs.
Remember that this includes more than just your car payment. Fuel, car insurance coverage, maintenance, registration and title fees, as well as other expenses like public transportation or secondary vehicles all factor into this equation. So if you take home $3500 per month, that’s $700 to spend.
Credit Score and Interest Rates
You should always check your credit report before agreeing to any loan package.
That’s because your financing rates are based largely on your credit score, and without knowing it, you could pay too much for your vehicle.
Moreover, credit report inaccuracies are all too common; after all, creditors report borrower behavior to credit bureaus, and mistakes happen. You should ensure that your report doesn’t have issues like false bankruptcies, foreclosures, auto loan delinquency, or other credit problems that could devastate your score and inflate your financing rates to astronomical proportions.
When you apply for financing via our website, we’ll shoot a brief message to your inbox which informs you of how to check your credit report and find out what ranges of car loan interest rates you deserve.