Yes You Can! 3 Misconceptions about Having Bad Credit

Having bad credit can sometimes feel like having leprosy in the Bible. You are rejected by everyone around you and no one will help. But fear not. Bad credit does not have to stop you from having the life you want. Here are 3 misconceptions about having bad credit.

1. There is nothing I can do about my bad credit score

If you are serious about improving your credit score, then this is the absolutely least true statement you can ever make about a credit score.  The purpose of a credit score is to give you credibility. It shows that you can take responsibility for your actions and keep promises. If you want to improve a bad credit score, show that you are credible. Perhaps you wish to improve your score by making car payments. First visit a Buy Here Pay Here lender like CarLoanUnlimited.com and allow them to help you purchase the car you need. By making payments on time, your credit score will be improved and you will build your credibility with future lenders.

2. It will be years before I can change my credit score

It takes as long to fix your credit score as it takes to fix old habits that dropped your credit score in the first place. A bad credit score is often the result of mistakes in the past. Perhaps you had overdue credit cards, missed payments, or other errors in your credit history. If you start now and work hard, you can improve your credit score in less time than you think. Start by paying off debts. Take each debt one at a time and keep working to make payments. Your score will change and your negative history will become just that, history.

3. A bad credit score means I’m unqualified for loans

One of the biggest misconceptions about a bad credit score is that opportunities are out of reach. You think lenders will take one look at a bad credit score and reject you on the spot. You have nowhere to turn for help. The reality is that certain companies exist specifically to help individuals with poor credit. If you are looking for a car loan, a Buy Here Pay Here business like CarLoanUnlimited.com can help you into the car you want no matter your credit score. Visit our website for more ideas on improving your credit score.

Busted: 3 Common Misconceptions about BHPH Auto Dealers

Purchasing a car from a Buy Here Pay Here Florida dealership has historically had a few common misconceptions. Like most misconceptions, these views are founded on perceptions and aren’t true. There are several myths surrounding Buy Here Pay Here (BHPH) dealerships, but the fact remains that purchasing a car from a BHPH dealer is a great way to get a car. It’s a reasonable and viable alternative to financing a vehicle from a bank, and it’s a particularly excellent choice for individuals with credit challenges. Buying a car can be a stressful experience, and we want to take the questions surrounding BHPH financing.

In order to dispel some of these common misconceptions, we’ve researched the top three concerns consumers have about Buy Here Pay Here Florida car dealerships.

1. All Lease Interest Rates are Sky High
It’s just something that’s assumed when conversations about BHPH dealerships occur: the loans have high interest rates. This is simply not true. Buy Here Pay Here Florida dealerships offer fair loan interest rates, just as dealerships that rely on bank loans do. In some cases, interest rates may be high- but it depends entirely on individual credit history and financial situations.

2. Warranty Issues
We’ve heard plenty of times that cars purchased through BHPH dealerships don’t come with warranty guarantees. This generally makes people uncomfortable with purchasing a vehicle as they are afraid they have no protection against lemons. In actuality, many Buy Here Buy Now Florida dealerships offer 30-day guarantees and 1,000 mile warranties to ease the consumer’s mind.

3. Inventory Shortage
At BHPH dealerships, there is no shortage of inventory. There may not be the vast selection as dealerships that rely on bank funding, but as the cars are purchased on dealership credit, there’s not feasible way for the selection to be as broad. The cash flow simply doesn’t allow it. That being said, there will always been plenty of vehicles in every price range at a Buy Here Pay Here Florida dealership.

Want to learn more about Buy Here Pay Here dealerships and the ways they can get you into your dream car?

Visit a Car Loan Unlimited location today!

BHPH: What NOT to do when looking for a Car

In 1946, Jimmy Stewart starred as George Bailey in the Academy Award nominated film, “It’s a Wonderful Life.” Throughout the movie, George dreams of traveling to destinations like Florida, but sacrifices his dream for his family and friends. Instead he works at a Building and Loan office where he helps good people into decent houses. He helps his family and friends improve their lives, saying, “They do most of the working and paying and living and dying in this community. Well, is it too much to have them work and pay and live and die in a couple of decent rooms and a bath?”

Buy Here Pay Here dealerships have similar ideas. They don’t believe customers should have to live their whole lives on bad credit diving run-down cars. They want to help good people purchase good vehicles and live wonderful lives. Here are a few tips on what NOT to do or expect then buying a car from a Buy Here Pay Here dealer.

Don’t expect to get your dream car. You may not drive away to your Florida home in the ’96 Mustang or the 2015 Corolla, but you can own a functioning vehicle that will get you where you need to go. This doesn’t mean you should compromise your expectations. Buy Here Pay Here dealerships have a variety of choice cars. Find the car that is right for you.

Don’t make rash decisions. The first impression is not always the right impression, even if you feel pressured to take a deal. Make sure you wait for a deal that is right for your circumstances. Each Buy Here Pay Here dealership is different. The dealerships in Florida may be different from those in Utah. If possible, discuss your choices with a friend.

Don’t lose control of the deal. George Baily never let himself be bullied and neither should you. If you feel uncomfortable with any part of the Buy Here Pay Here process, voice your concerns and don’t be afraid to walk away.

A Buy Here Pay Here dealer is ready to help you improve your life. Don’t “work and pay and live and die” in an old, broken down car. Enjoy driving through the beautiful Florida country in a car you can afford and appreciate.  Buy Here Pay Here dealers, like Car Loan Unlimited, will help you have a wonderful life. Visit CarLoanUnlimited.com today!

BHPH: What NOT to do when looking for a Car

In 1946, Jimmy Stewart starred as George Baily in the Academy Award nominated film, “It’s a Wonderful Life.” Throughout the movie, George dreams of traveling to destinations like Florida, but sacrifices his dream for his family and friends. Instead he works at a Building and Loan office where he helps good people into decent houses. He helps his family and friends improve their lives, saying, “They do most of the working and paying and living and dying in this community. Well, is it too much to have them work and pay and live and die in a couple of decent rooms and a bath?”

Buy Here Pay Here dealerships have similar ideas. They don’t believe customers should have to live their whole lives on bad credit diving run-down cars. They want to help good people purchase good vehicles and live wonderful lives. Here are a few tips on what NOT to do or expect then buying a car from a Buy Here Pay Here dealer.

Don’t expect to get your dream car

You may not drive away to your Florida home in the ’96 Mustang or the 2015 Corolla, but you can own a functioning vehicle that will get you where you need to go. This doesn’t mean you should compromise your expectations. Buy Here Pay Here dealerships have a variety of choice cars. Find the car that is right for you.

Don’t make rash decisions

The first impression is not always the right impression, even if you feel pressured to take a deal. Make sure you wait for a deal that is right for your circumstances. Each Buy Here Pay Here dealership is different. The dealerships in Florida may be different from those in Utah. If possible, discuss your choices with a friend.

Don’t lose control of the deal

George Baily never let himself be bullied and neither should you. If you feel uncomfortable with any part of the Buy Here Pay Here process, voice your concerns and don’t be afraid to walk away.

A Buy Here Pay Here dealer is ready to help you improve your life. Don’t “work and pay and live and die” in an old, broken down car. Enjoy driving through the beautiful Florida country in a car you can afford and appreciate. Buy Here Pay Here dealers, like Unlimited Car Loans, will help you have a wonderful life.

The Biggest Problem with Buying a Car on Bad Credit, and How You Can Fix It

A maintained, quality vehicle is necessary for most people today. Whether driving to work, taking the family on a drive, or hurrying to the hospital to visit a sick friend, your car is your tool to help you keep up with life.
The problem is that most cars cost more money than some people can afford. You need a loan to help you buy a car. In order to get approved for a loan, you need to show your credibility. Let’s say you apply for a car loan, but find out your credit is bad.

Buying a car on bad credit means you are taking a higher risk, but with some diligence and careful planning on your part, you can fix your credit.

Credit provides opportunities

Credit scores provide a variety of opportunities and rewards. A better score makes things like getting a car loan easier, but a lower credit score may not necessarily deny you a car loan. Talking to a lender, even if you believe your bad credit will harm your opportunity to attain a car loan, can only give you good information.

Bad Credit before and after a car loan

Good credit is developed over time through decision and action. The decision to purchase a car, even with bad credit, will lead to the action of paying back a loan and improving your credit. This is where you need diligence and planning. Your financer can help you set up scheduled payments. When you follow your plan, your bad credit will be transformed through your car loan and bring you better opportunities and higher rewards.

What is the risk?

If obtaining a car loan when you have bad credit is so easy, why doesn’t everyone get approved for loans and have better credit? People make mistakes. Lenders take human error into account when they approve or reject a loan. Lucky for you, CarLoanUnlimited.com specializes in people who have made mistakes. We understand that people need forgiveness and second chances. We work every day to help people find a fresh start and climb out of bad credit pitfalls. If you struggle to obtain a car loan because of bad credit, contact us to for options and opportunities.

The Biggest Problem with Buying a Car on Bad Credit, and How You Can Fix It

A maintained, quality vehicle is necessary for most people today. Whether driving to work, taking the family on a drive, or hurrying to the hospital to visit a sick friend, your car is your tool to help you keep up with life.

The problem is that most cars cost more money than some people can afford. You need a loan to help you buy a car. In order to get approved for a loan, you need to show your credibility. Let’s say you apply for a car loan, but find out your credit is bad.

Buying a car on bad credit means you are taking a higher risk, but with some diligence and careful planning on your part, you can fix your credit.

Credit provides opportunities

Credit scores provide a variety of opportunities and rewards. A better score makes things like getting a car loan easier, but a lower credit score may not necessarily deny you a car loan. Talking to a lender, even if you believe your bad credit will harm your opportunity to attain a car loan, can only give you good information.

Bad Credit before and after a car loan

Good credit is developed over time through decision and action. The decision to purchase a car, even with bad credit, will lead to the action of paying back a loan and improving your credit. This is where you need diligence and planning. Your financer can help you set up scheduled payments. When you follow your plan, your bad credit will be transformed through your car loan and bring you better opportunities and higher rewards.

What is the risk?

If obtaining a car loan when you have bad credit is so easy, why doesn’t everyone get approved for loans and have better credit? People make mistakes. Lenders take human error into account when they approve or reject a loan. Lucky for you, Unlimited Car Loans specializes in people who have made mistakes. We understand that people need forgiveness and second chances. We work every day to help people find a fresh start and climb out of bad credit pitfalls. If you struggle to obtain a car loan because of bad credit, contact us to for options and opportunities.

3 Myths about BHPH Dealerships

Before making a decision to purchase a car, it’s important for every potential buyer to do their research and make sure they fully understand their choice. This is especially true when it comes to learning about different types of dealerships, financing options, and payment plans. There are some common misconceptions regarding the way that a buy here pay here dealership functions. Before dismissing a buy here pay here dealership, potential buyers should make sure that their decision has not been influenced by any buy here pay here dealership myths.

1. The BHPH Industry Is Not Regulated

This myth could not be farther from the truth. Just as with a traditional dealership and other consumer-oriented businesses, the buy here pay here industry operates based on a significant number of laws and regulations. These regulations exist at both a federal and state level, just as with traditional dealerships. They work to protect several aspects of the purchasing process, such as ensuring operational ethics and quality of a consumer’s purchase.

The following are just a few regulations by which the BHPH industry operates:
• Truth in Lending Act
• State Usury Laws
• Deceptive & Unfair Practices laws
• Used Car Rule
• Safeguards Rule
• Red Flags Rule
• Fair Debt Collections Practices Act

2. BHPH Lots Always Charge Excessive Interest Rates

Due to the nature of financing and lending, interest rates may be higher for those with poorer credit. This is also true with traditional dealerships and lending institutions. However, the idea that a buy here pay here dealership will always charge excessively high interest rates is simply not true. Some individuals perceive that a BHPH lot will charge 30 percent APR or higher. On average, BHPH dealers may charge between 10 and 20 percent APR, depending on a number of factors – primarily the purchaser’s credit. We work one-on-one with our customers to meet a financial agreement that all parties can agree on.

3. BHPH Dealers Charge Late Fees and Order Repossessions, While Banks Do Not

It is a common misconception that buy here pay here dealerships are the only types of dealerships that will enforce extra charges or repossessions for late payments. While buy here pay here dealerships may implement these rules, they are not exclusive to BHPH dealerships. Any financial institution is permitted to enforce these policies, and a vast majority of them will. It is also a myth that BHPH dealerships will charge late fees at a significantly higher rate than other lending companies.

Visit CarLoanUnlimited.com to see how we can help you today!

Why Choose a BHPH Dealership

Those who may not be familiar with the concept may find themselves asking why they should choose a buy here pay here dealership as opposed to a traditional dealership. There are a number of answers to this question. However, the most important reason to choose a buy here pay here dealership is if you’re struggling with a loan approval from a traditional dealership or third party auto financing company. We’re here to help those who need a car but are having difficulty with the purchasing process.

Credit Acceptance

The staple of a buy here pay here dealership is providing a reliable, quality vehicle to individuals who have been turned down by other dealerships because of their poor credit ratings and limited finances. At Automotive Link, we understand that this can be frustrating. In many cases, a car is the only thing standing between an individual and the financial stability they’re seeking. We believe that our customers should still have the chance to drive away with a good car that fits their needs and wishes.

Fast Approvals

At Automotive Link, we know that some other buy here pay here dealerships can take a while to perform a credit check. All we ask is 60 seconds of our customers’ time to let them know if they’ve been approved and that they are eligible to purchase a car from our lot. We respect the time of our customers and understand that no one has time to wait around for an answer on their credit application.

Monetary Flexibility

We know that our customers are often limited by resources such as time and finances. That’s why we will sit down with each customer to create a customized payment plan that suits his or her unique financial situation. We will examine the customer’s current and projected finances, alongside credit scores and ratings, to calculate a payment plan that allows the customer to drive home in a reliable vehicle.

Flexibility with Trade-ins

Buy here pay here dealerships are also typically more flexible when it comes to trade-ins. Customers who find that it’s time for a newer vehicle or a more reliable vehicle can discuss any trade-in options that they may wish to pursue. Based on certain considerations, we can offer customers trade-in credit that can be used toward a vehicle on our lot. We understand that just because a vehicle is older, it doesn’t mean that it’s no longer valuable. This is a significant advantage over traditional dealerships, which may offer very little or nothing for an older vehicle.

Visit CarLoanUnlimited.com today!

How In-House Financing Works – Orlando, FL

In-house financing in Orlando, FL is a great way for car shoppers to receive instant approval and minimal hassle on their car loan. In-house financing is also referred to as buy here pay here financing. Due to the more lenient nature of in-house financing, this process is ideal for car shoppers who don’t have the best credit, or who may have limited resources. The best part is that the car dealer and the lender are the same institution, which makes the process quick and convenient for all parties involved.

The Dealer is the Lender

The key to how a buy here pay here dealership functions is that the dealership itself is the source of the auto loan that is granted to the customer. In some cases, these loans are underwritten by a finance company. This means that the customer does not have to deal with the hassle of going back and forth with a third party for the loan approval and management process.

Additionally, the dealers in Orlando providing the loans have the ability to make their own decisions in terms of approving customers. Often, buy here pay here dealerships will approve those with poor credit scores, because those customers deserve the opportunity to buy a car too. We provide 60-second approval to our customers to ensure that their valuable time isn’t wasted waiting to hear back on their auto loan.

Car Loan Flexibility

In-house financing allows buy here pay here lots to work with their customers on a personal level. Dealers will review each potential customer’s credit and finances once they are approved for a loan. Depending on factors such as these, the dealership and the customer can come to an agreement on financing terms for the auto loan. We’ll work with each customer to find the best car for their needs and budget while working to create the most suitable terms for their auto loan.

Car Loan Terms

When it comes to deciding the terms of the car loan, each buy here pay here dealership will typically decide on a case-by-case basis. This is because the resources, finances, and needs of each customer will be different. At CarLoanUnlimited.com, we work to find terms that suit each customer uniquely. We focus on a low down payment for customers, because this is often the main difficulty that customers face when trying to drive home in a vehicle they can call their own. Our payment structure is geared toward allowing our customers to own their car as quickly as possible, without any confusing long-term loan agreements.

Questions to Ask a BHPH Dealership

When it comes to the important milestone of purchasing a car, it’s important for new customers to be fully informed before they make their final decision. Customers should understand all aspects of the purchase process, from the initial screening to the last payment. We encourage potential buy here pay here customers to ask a few critical questions before purchasing their vehicles, to make sure they’re educated and aware of their agreements.

Purchase Timeline

It’s no secret that those who come to any car dealership – let alone a buy here pay here dealership – are looking to drive away in their purchase as soon as possible. Especially for those who are in dire need of transportation, it’s important for customers to be aware of the dealership’s policy when it comes to approvals and final agreements. Before the process begins, shoppers should make sure that the transaction will suit their time constraints and needs. A number of buy here pay here dealerships will cater to a shopper’s needs and allow him or her to finalize all the details and drive home the same day that they are approved.

Early Loan Payment

A critical question to ask a buy here pay here dealership pertains to their policy on early payments toward their auto loan. Shoppers should never purchase from a buy here pay here dealership that charges fees for early payment. At Automotive Link, we believe that individuals shouldn’t be penalized for the desire to take care of their financial obligations as quickly as possible. That’s why we will never charge any fees for early payment on loans. We strive to provide our customers with an opportunity to regain their financial independence if they are struggling, not add financial burden for being responsible consumers.

Payment Plans

Perhaps the most important question for potential customers to ask is for all of the details regarding the payment plan and process for the purchase. We’re focused on constructing a payment plan that’s catered to each customer, so that we can all be happy with the transaction. We’ll sit down with our customers to look at factors like current and projected finances to calculate a payment plan that suits their financial situation. We offer low down payments to make sure that customers can drive home in a great car that suits their needs. Payment plans are structured so that buyers can own their cars in as little as two years, without all the complicated terms that some dealerships may impose.