If you have bad credit and are
looking to buy a car you should proceed with caution and do a little research before you walk into just any used car dealer and buy a car with bad credit. Why? In the United States there are approximately 17,000 new car dealers that sell used cars and over 60,000 used car dealers. Nearly 25% of these used car dealer's prospect people with bad credit as potential car buyers.
The quality of the dealership you visit has nothing to do with the profit the car lot earns on the transaction if you decide to buy a car from them. For some reason, many people associate low dealership profit with customer satisfaction and getting a good used car deal. The profit that the dealership makes on the transaction has nothing to do with whether or not you got a good deal.
Dealership profit is based on what they sell the car for minus what they bought it for. Getting a good car deal is based on buying a used car for the lowest price and financing the used car at the best rates and term.
It's easier to get a low price, compared to market value, at a used car dealer that sell a lot of cars and has an aggressive used car manager that knows how to spot a good deal when he or she buys the used car to place on the dealership lot. Believe it or not, used car dealers that sell a lot of cars can often buy used cars in bulk, at auctions and bank repo sales, for thousands of dollars less that the typical mom and pop used car lot.
Additionally, these higher volume used car lots also have special arrangements with national and local automobile lenders. The cliche "
scratch my back, I'll scratch yours" is extremely relevant when it comes to getting the best deal at a used car dealer with bad credit. Smaller used car lots do not have lenders courting them for business, larger used car lots do.
Often, national and local automobile lenders with make special financing arrangements with car lots that sell a lot of used cars; these lenders want the dealer's good credit business, to obtain that, they are willing to accept and approve several applications for people with bad credit, in other words, their policies are that of appeasement. People with bad credit that want to buy a used car can take advantage of this if they visit the right used car dealership.
BuyAndPayHere.com had relationships with over 800 used car lots that sell a lot of cars across the USA. In additions to finding you a low used car price, we'll save you money with better rates, and used car financing terms, as well as saving you time by finding the right dealership, with the right finance options, the first time.
