Buy Here Pay Here Lots Alabama
GKM Auto Sales is a low down payment, buy here, pay here dealership. That means if you have had trouble getting financing due to having bad credit, no credit, or too much credit we can help you get into a vehicle.
buy here pay here lots alabama
We're so glad you're here! Let us share a bit about ourselves! We are a family owned and operated Buy Here, Pay Here dealership. We are committed in providing excellent customer service and making your car buying experience a pleasant one!Our down payments begin at $1500 and go up based on the value of the car. You will never pay a penny in interest! Payments are set at $250 a month! How can you beat that price!We look forward to meeting you! Stop on by and check out our HUGE selection of quality vehicles!Only $250/Month - Always 0% Interest - Zero Fees - No Credit Check - No Employment Check
I bought a car for buy here pay here I only had it for three months and I am not 30 days behind I payed 125.00 on my November payment and I owe 261 for November my car note is due every month on 29th. He repo my car before 30 days and said he is not returning me the if I can pay him what I owe can he do that.
Our friendly and knowledgeable sales staff is here to help you find the car you deserve, priced to fit your budget. Shop our virtual showroom of used cars, trucks and suv's online then stop by for a test drive.
Family owned and operated since 1991. Offering quality used cars to the local area. All vehicles are fully inspected before being sold. We offer buy here pay here, with down payments as low as $500. And a no pressure environment.
If you need a car but have poor credit, buy here, pay here dealerships may seem like a good idea. Unlike most car dealers, buy here, pay here car lots finance your car directly rather than through a bank or credit union.
High APRs. Buy here, pay here car lots routinely charge high interest rates, up to the maximum allowed in the state or even higher if the buyer agrees. For example, the legal rate of interest in New York state is 16% for loans under $25,000, but dealers are also allowed to charge a Credit Service Charge at whatever rate the buyer and seller agree upon. The higher interest rate can make it more difficult to keep up with the payments.
May not help your credit. Not every buy here, pay here dealer reports your payment history to the three major credit bureaus. Ask your salesperson if they report payments and to which agencies. Otherwise, you may lose the opportunity to improve your credit score.
Before you settle for a buy here, pay here car loan, consider exploring other options. One alternative is a bad credit car loan, a conventional auto loan with higher interest rates for borrowers that have lower credit scores.
In-house financing. Some franchised dealerships also have their own lending companies. Shopping for in-house financing at a dealership rather than going to a buy here, pay here lot could mean that you have access to a wider variety of cars and more lending options.
AllStarz Auto Group specializes in top quality inventory with a wide variety of options and styles. Our experienced, friendly staff is here to help you find what not only fits your lifestyle, but also your budget.
Having trouble securing an auto loan to buy a car? "Buy here, pay here" dealerships offer in-house financing, typically to borrowers with bad credit. While this route is worth considering if your credit isn't in great shape, there are some pitfalls to consider.
When you sign a contract to buy a car with a traditional car dealership, it passes the contract on to an auto lender, which provides a loan for the purchase. With a buy here, pay here (BHPH) dealership, however, the dealer sells and finances the cars on its lot.
BHPH dealerships specialize in working with people who have bad credit or no credit history at all. As a result, they can provide an opportunity that some borrowers will have a hard time finding anywhere else.
First, check your credit scores to see where you stand. Depending on where your score is on the spectrum, you may still qualify to work with a traditional car dealership that works with bad-credit borrowers.
Second, get a copy of your credit reports to see if there's anything you can work on before you apply. If one of your reports shows erroneous information, for instance, you can file a dispute with the credit reporting agency to get it removed.
Getting approved for an auto loan with bad credit or no credit history at all isn't easy, but it is doable. Buy here, pay here dealerships offer financing to people with less-than-stellar credit, but the drawbacks tend to outweigh the benefits.
CNW estimates that there are more than 33,000 such lots nationwide, compared with about 20,000 dealerships selling new cars. Buy Here Pay Here dealers make $80 billion in loans every year, according to the Federal Deposit Insurance Corp.
In a Buy Here Pay Here loan, there is no outside money. The cars are sold on installment plans, an approach once common for big-ticket purchases like refrigerators and still widely used by rent-to-own furniture stores catering to people who don't have credit cards.
There have been some crackdowns on Buy Here Pay Here dealerships. In 2004, an Ohio chain settled a federal class action for $21.8 million, paying up to $500 each to 123,000 customers who alleged they were misled about their loans. In 2006, the Kentucky attorney general reached a $7.4-million settlement with the nationwide J.D. Byrider chain to settle claims that it used deceptive sales practices, among other violations.
Camacho's customers are drawn from the dusty streets of Palmdale and Lancaster, where the median household income is nearly $9,000 below the statewide median of $60,392. Many of his customers have checkered financial histories: repossessions, foreclosures, missed child support payments, unpaid medical bills.
"The amount of return from these loans you can't get on Wall Street. You can't get it anywhere," said Michael Diaz, national sales manager for Small Dealers Assistance Inc. in Atlanta, which buys loans originated by Buy Here Pay Here dealers. "It's the gift that keeps giving."
"There hasn't been widespread public attention paid to Buy Here Pay Here because mortgages have been such a preoccupation," said Kathleen Keest, senior policy counsel for the nonprofit Center for Responsible Lending.
"It's not even a drop in the bucket," Faulkner said of programs like his. "The system just isn't set up for these people to succeed. There should be a Small Business Administration or Federal Housing Administration for cars."
"Public transit is not practical in Milwaukee where the wind chill can be 45 below and you have to drop three kids off at day care," Moore said. "We really have a crisis with respect to getting people to their jobs.
3. There may not be any warranty for breakdowns or expensive repairs. If the dealer includes a warranty, it may come with conditions such as a high deductible. If money is tight for the borrower, paying for repairs and continuing to make payments becomes very difficult.
It can be very hard to qualify for a car loan with no money down if you're dealing with poor credit. Some residents of Auburn may not realize it, but a down payment is there to help, not hurt their auto loan. It may be a pain to come up with a down payment, but in the long run, it'll decrease the overall cost of your loan by lowering the interest charges.
Whether you need a used car for the commute on Veterans Parkway in Columbus or a used SUV to drop the kids off at Carver Primary in Opelika, or a used truck for commercial jobs in Phenix City, we understand the importance of reliable transportation. That's why we work with both bad credit and no credit customers, offering a judgment-free, family-friendly atmosphere.
At Gil's Auto Sales, we help you rebuild your credit without the hassle of dealing with banks or credit unions. As a buy-here, pay-here dealership, we simplify the financing process, putting you in control. We accept trade-ins on your old vehicle, and will even buy your car if you don't want to purchase a vehicle with us.
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"We work hard every day to assist customers in finding the right vehicle. We are providing them something they need," Stephen said. "I do everything I can to help everyone on our team. I think everyone shares that attitude and that approach. We need everyone here to succeed in order for our lot to be successful."
Stephen had several years of experience in auto sales before joining Action Auto and says he finds great satisfaction in the buy here, pay here space because he is helping customers, who might not be able to purchase a vehicle elsewhere, acquire a reliable source of transportation within their budget.
"It's helping people that I couldn't otherwise help. Here, we can help people get a car when they have been told no elsewhere," Steven said. "Here in Florence, we don't have a lot of public transportation, and a lot of the community is relying on friends and relatives for rides," Stephen said. "When you have kids and things to do, that is tough. But we are here to help them get a car they can afford."
"We work as a team," Wise said. "You may have a title, but we are all going to do the work needed to help one another and help make the lot as successful as it can be. No one is bigger than the team here. We are doing it for the store. We don't have individual goals; we have store goals. It is a family dynamic."
"I want people to come in and feel like we are here to help them," Wise said. "We try to make the process as personal as possible. If you come into our store, we are going to talk. We let all of our customers know that if they ever need anything, we are here to help, even once they buy a car." 041b061a72