You may already be familiar with "buy here pay here" (bhph) especially if you are a current Mark's Auto Sales customer reading this. However if you are looking to buy a used vehicle, and haven't gotten a bank approval from a dealership, you may have been recommended to try a buy here pay here dealership.
The biggest difference, as you can tell by the name, a buy here pay here used car lot, has the financing in house. Instead of arranging your lending with a bank, your loan is with the car dealership itself. Similar to a bank, the buy here pay here dealerships will have underwriting procedures and collectors to help keep your payments in line. With the advent of software such as AutoZoom for bhph used car lots, credit risk can be measured. Many dealers will also have their sales staff help the customer budget what they can afford for a monthly payment.
Mark's Auto Sales has been a buy here pay here dealership in the Denver Metro Area since 1983. While there has always been a customer base searching for bhph financing, we have seen an uptick as banks have moved away from their subprime lending programs. Unlike many bhph car lots which only report to the credit bureau when your payment falls behind, we will report all your payments, including your on time payments. This has allowed our repeat customers through the years establish positive automotive credit history. This positive credit history will help the bank towards an approval.
If you're tired of waiting for an approval, and in the Denver metro or front range, don't wait, contact us directly at sales@marksautosales.com or 303-592-7725
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