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Pay Here Buy Here Car Lot vs. Buy Here Pay Here

Many jargon terms exist within the auto industry that can make it extremely difficult to feel at ease when shopping for a new or used car. Some of these terms cannot be avoided, like the more technical terms which describe the makeup of the vehicle itself. However, when it comes to used cars, there’s one term that has often stumped those trying to make a purchase - buy here pay here.

What can make it even more frustrating is when you run into different iterations of the same term, and the used car sales industry is no stranger to that. Buy here pay here and pay here buy here both pop up in used auto sale searches. As a buyer, it must be baffling to run into these terms without the right context. We’ve run into confusion from customers about whether or not there is a difference in these terms.

The good news? There is no difference. Buy here pay here cars and pay here buy here cars are one and the same! Below, you can find out a little bit more about what to expect from the process and why buying from a buy here pay here dealership might be right for you.

The Shopping Process Is a Little Different

There are many great things about living in and around Kansas City, Missouri, but one of the most exciting things about the area is the diversity in our businesses. This diversity extends to the types of car lots in Kansas City, as well.

As you might expect, the cars you’d find at a buy here pay here lot are much different than the kinds you’d find at a traditional dealership. Traditional dealerships typically showcase car models that were made in the past year or two, and their variety comes from the colors and trims of the cars themselves. Buy here pay here dealerships are solely used car dealerships, which means they have a much broader variety in makes, models, and years.

One thing that also differentiates buy here pay here dealerships from traditional dealerships is how the car buying process differs. When searching for a car from a conventional dealership, it is natural to browse inventory, decide upon a vehicle, and then apply for financing for that car. Unfortunately, this gets the buyer’s hopes up, and in the event that they are denied funding, they are let down by not being able to get the car they wanted.

At buy here pay here dealerships, you first apply for credit. Then, once you are approved, you can start shopping within your borrower’s range. This helps the buyer remain grounded and excited about the shopping process.

Pay Here Buy Here Car Lot

Applying For In-House Credit

It’s no surprise that buy here pay here dealerships get their name from the way their credit process works. Applying for in-house credit is easy, and it allows people with low credit scores to receive financing regardless of their credit history. At Auto Bank, you fill in your credit application online, or on location. To qualify for credit, you need to meet the following requirements:

  • You must be 18 years of age or older.
  • You must make at least $1200 a month after taxes.
  • You must have a valid driver’s license, or your co-applicant must have a valid driver’s license.

Other than that, there isn’t much to worry about. The application takes no more than half an hour to fill out. If you fill it out online, someone will be in touch with you within the next 24 business hours. If you fill it out in-store, you can feel free to walk around the lot, look at the cars, and you will be notified about your application shortly. From there, you meet with a representative and then shop for vehicles on the lot that fit within your loan budget.

Finding a Car That Works For You

After you get approved for in-store credit is when the fun part happens! You now have a good idea of your budget for your car purchase, and you can now examine the cars on the lot and try and find one that best fits your needs.

You can feel confident that you will find a car that works and works for you when you shop at a buy here pay here dealership. Federal lemon laws require buy here pay here lots to disclose all the information they have about their used cars, unlike used vehicles sold by private sellers. Therefore, you can see a car’s history, what might be wrong with it, and test drive it just like you would at a brand dealership to ensure that car is the one you want.

What Comes Next

One of the best parts about shopping at a buy here pay here establishment is that it doesn’t need to be a days-long affair. Many of our customers apply for financing, find a car they like, sign, and drive on the same day!

When you do find a car you like, you’ll meet with a representative and go over the purchase paperwork. This will include setting up your loan repayment terms - which are flexible. You can take a lot or very little time to repay your loan, depending on your financial goals. Once the paperwork is signed, the car is yours, and you get to drive away confident in your purchase.

Finally, there is no pressure to buy a car, even if you are approved for financing through our establishment. Your application can remain open, and if you want to put in a request to be notified when a particular make or model of car shows up on our lot, you can do that.

Are you ready to take the next step in car ownership? Auto Bank of Kansas City can help you. We serve the greater Kansas City Northland, Liberty, and Parkville areas. Visit one of our two Kansas City locations - one on 2000 East Truman Road and one on 6901 East Front Street. If you’d like to get a better idea of what to expect from a buy here pay here experience at Auto Bank, visit our testimonials page.