Choosing the Best ‘Buy Here Pay Here’ Dealer Part 3: Financing

In Part 1 of our “Choosing the Best ‘Buy Here Pay Here’ Dealer” series, we focused on looking at the character of the dealer. In Part 2, we focused on the quality and selection of inventory.

Now let’s take a look at how a Buy Here Pay Here dealer actually gets you into the car: their financing process.

The Ins and Outs of Used Car Financing

The used car business is built on providing vehicle financing to customers with less-than-perfect credit. But that doesn’t mean you should have to settle for a car that you don’t want (see Part 2), and it doesn’t mean that it gives the used car dealer cause to treat you with anything less than respect and dignity (see Part 1).

When you purchase a used vehicle, you’ll be making payments on it for the next several years. It’s important to know to whom you’ll be making those payments. Most used car dealers actually get you financed through an unrelated, out-of-state national finance company. So before purchasing your used vehicle, find the answers to these questions:

• Who is the finance company?
• Where is the finance company located?
• What happens if you run into a problem with either payment or service (i.e. what if you’re late on your payment)?

That last one is extremely important, but largely overlooked at the time of sale (most people don’t plan in advance to be late on or miss a payment). A lot of Buy Here Pay Here dealers will remotely shut down your vehicle if you’re just a day late. Those are probably not the best people to be in business with.

Bad Credit? No Credit? No Problem at Integrity!

Dealers Finance is the finance company for Integrity Auto Finance, and it’s also located in south Oklahoma City. If you have a problem, Dealers Finance will work with you. Communication is key — if you let them know that you’ve run into a problem with your payment, Dealers will do everything they can to work with you and get you back on track.

Payment Options

So now that you know who’s financing your purchase, you’ll need to see what your payment options are. Do they take both cash and checks? Do they take debit and credit cards, and if they do, is there a service fee attached? Do the let you pay with an automatic withdraw or do you have to mail it or pay in person?

Integrity’s AutoPay and AutoDollar Rewards

Integrity makes it both easy and convenient for you to make your car payment with AutoPay. Where most places charge a convenience fee to pay with a debit card, Integrity pays you with AutoPay Rewards. Each time your payment goes through, you will receive $5 in AutoPay Rewards that you can use to get oil changes or service to your vehicle. You can also qualify for a 1% interest rate reduction.

Reporting to Credit Bureaus

Making on-time payments on your car loan over the course of years is a great way to build credit, but most Buy Here Pay Here dealers don’t bother reporting your payments to the credit bureaus. Look for a dealer that goes the extra mile by properly reporting your payments.

Rebuild Your Credit with Integrity

Integrity reports to all three major credit bureaus, ensuring that your timely payments will help rebuild your credit!