Bad Credit Car Buyers: Understanding Your Credit Report

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If you’ve ever been faced with the hard reality of a bad credit score while trying to make a major purchase – especially something like taking out a loan or buying a car – you might know all too well the frustration that comes from denial after denial, thanks to your lousy credit history. While plenty of buy here, pay here dealers and bad credit lenders offer undeniably helpful loans to bad credit borrowers and buyers regardless of a bad credit history, this may not necessarily solve the problems that made your credit so bad in the first place. To do that, you have to understand your credit history and why your score is so low – and without understanding your credit report, pretty much none of that is going to make too much sense.

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How To Set The Right Price For Your Used Car

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For the seller of a used vehicle, the process of getting your car out there and into the sights of some interested buyers may seem deceptively easy. Maybe you do a little clean-up of the vehicle itself, put up some flyers, and even post a few ads online. Within anywhere from a few days to a few weeks, you should be getting some feedback from interested buyers (depending on the condition of your car) and may be looking to start negotiating a price – and this is where things can start to fall apart. As great as your used car may be, there’s a distinct price range for every vehicle; shoot too high and you might scare off potential buyers, but shoot too low and you might just lose out on the full value of your car. Luckily, there’s more than one easy way to figure out exactly what you should be charging for your vehicle, and they all involve an appraisal.

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The 7 Most Desirable Used Compact Hatchbacks

2008 Mazda 3S

When it comes to selling your used car, you might find that some drivers narrow their search to basic specifics, like year, size, or mileage – and for some sellers this can be a serious benefit, especially if the car they’re trying to sell happens to be super desirable. For others, however, things like negative reviews or poor resale value can be a serious setback to successfully selling a used car, and it really all depends on what the trends are and what your consumer is looking for.

If you’re telling yourself “I’m going to sell my car today,” but can’t quite seem to get your compact model out the door, it might help to know what kinds of vehicles used car buyers are looking for and want to buy. While this may not help everyone trying to offload a compact car, it can give a seller a better perspective on what kind of model consumers are looking for, and where your compact vehicle for sale fits into what buyers want near you.

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Buying a Car With Bad Credit: 3 Things to Know

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Before you head over to your local buy here, pay here dealer in Cincinnati to get a car, it’s important to know a few things about bad credit car loans first. The first one is, you don’t need any warranties or other add-ons to get financing; contrary to popular belief. Secondly, a credit union is more lenient than a bank when it comes to giving out bad credit car loans. Finally, there is such a thing has having a credit score that is too poor.

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Understanding Large Down Payments at Buy Here, Pay Here Dealerships

There are myths floating around about Cincinnati buy here, pay here car dealerships. Some people say they are out to get you, provide exaggerated examples of interest rates paid, or tell fabricated stories about unwarranted car repossessions. None of these are true, of course. Buy here, pay here dealerships aren’t out to get you, they are here to help you. The interest rates are higher than average because they deal with bad credit consumers, and the car repossessions are only reserved for those who don’t make payments. Perhaps one of the biggest misconceptions floating around, is the gigantic down payment they force on you in order to make your car purchase. Just like the interest rate, the number is typically exaggerated.

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Why Selling Your Car to a Dealership is the Best Route

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The time’s finally come. Regardless of the circumstances, you’re forced to sell your vehicle. Once you get over the mourning period, you’re going to make a pair of priorities during the car-selling process: finding fair value on your vehicle… and making the ordeal as painless as possible.

It’s not going to be particularly easy selling your vehicle on the open market. Therefore, it may be in your best interest to sell your vehicle to a dealership. Sure, you may have to make several compromises. Still, if you’ve recently thought to yourself “hey, I should sell my car today,” there really isn’t a better option…

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Certified Used Car FAQ – What To Know

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For anyone who’s ever tried to sell a vehicle with any kind of speed, the market might be a little hard to break into. That’s thanks, in part, to the thousands of car owners who list their vehicles for sale each day, utilizing tools that range from a physical “For Sale” sign on a parked windshield to the power of internet classified ads. If you know the right way to go about it, selling your car fast can be easy – but without this knowledge, it can take a whole lot of negotiating.

If you’re thinking “Jeez Louise, why can’t I just sell my car today for cash?” you’re probably not alone. Lucky for you, there are a few ways to make your pre-owned vehicle a lot more appealing to potential buyers – and nothing is more attractive to a used car buyer than a certified used car.

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Six Reasons to Shop at a Buy Here-Pay Here Dealership

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You’ll often hear that Buy Here-Pay Here dealerships are less trustworthy than your standard car-selling business. This may be true in some instances, but this sentiment certainly shouldn’t be applied to every business. These dealerships rely on high financing rates to make money. While this strategy could be viewed as untrustworthy, it’s the only way to make these transactions beneficial to the seller.

You shouldn’t brush off the advantages that accompany BHPH dealerships, especially if your credit is struggling. After all, there aren’t many other opportunities out there for you to secure an operating vehicle. Even then, these businesses offer flexibility and prices that are competitive with a standard used car dealership.

If you’re in need of a “new vehicle,” it’d be in your best interest to understand the advantages that accompany shopping at a BHPH dealership. We’ve compiled several reasons why you should be visiting these businesses, which should hopefully convince you that it’s best to visit a Cincinnati Buy Here-Pay Here dealership…

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Finding a buy Here Pay Here Deal

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Just because you need to look for a car at a buy here pay here Cincinnati, Ohio dealership doesn’t mean you are unable to negotiate and find a deal that works for you. You may have bad credit, but the dealerships shouldn’t be heartless or attempt to force you into a deal you don’t want. That being said, there are plenty of reputable BHPH dealerships where you can find a good deal on a car designed to meet your driving needs.

While you might not have as much wiggle room for negotiation as someone with good credit at a traditional dealership, that doesn’t mean you are locked into one vehicle; just that price range — keep that in mind. 

Downpayment and Interest Rates

The downpayment and interest rates will be higher at BHPH dealerships when compared to traditional dealerships. Depending on where you live, and your credit, your interest rate could be anywhere between 14% – 20%. Also, keep in mind that a bigger downpayment means less interest paid overtime; which is good. But there is a fine line, and you need to figure out when a bigger down payment becomes too big for your wallet.

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Understanding Auto Loan Interest Rates

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The auto loan interest rate works similarly at buy here pay here Cincinnati dealerships, it’s just a little higher. That means, whether you are shopping at a new, used, or independent car dealership, the concept is the same. It all starts with the financing, which is getting approved for a loan. Then, they take a look at various factors to calculate the interest rate on your auto loan.

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