Poor Credit, Bad Credit, No Credit, No Problem – Buy Here Pay Here

These are the signs you’ll see at most used car dealers and displayed on your television. Are you able to understand the meaning behind these terms?

The Tote-the-Not dealership works in the same way as furniture rental companies. You pay for the car exactly where it was purchased, without any loan company. However, there is a significant difference between a car dealer inventory levels and a furniture company – your credit report.

The car salesman will spend more time helping you to obtain a loan from a lending company when you are in search of a new or used vehicle. It works like this: You fill in a credit application. Your manager will then take your information to a computer to run your credit report. They will then fax the information to lenders who use it to finance the cars they sell. The loan company will now review your credit report and decide whether or not they would like to finance your loan. This means you will have to repay the loan company for the money they paid the car dealer. No credit, poor credit or bankruptcy will make you less likely to be approved for a loan. You may also have to pay 21% interest on the purchase price. You will end up paying the same amount every month for your used car as for renting or purchasing your home, regardless of how good your credit rating is.

Furniture rental companies look at your credit history and may refuse to let you rent furniture.

Tote the Note car salespeople do not view your credit history. The only information they require is your address, where you work, how much you earn, your nearest relative’s address, telephone number, as well as the amount of money you have earned. You only need a job to purchase a used vehicle from the Tote the Note lots.

Tote the Note takes cars from individuals who want to sell their vehicles, buy them through auctions, or trade them in for new ones. A mechanic will typically fix major problems with the car. However you will not be covered by any type of warranty. The dealer cannot repair the car for you. This means that if the car does go wrong, you will be responsible for all costs. This is often called “sold in its current condition”.