auto financing alternative

[angelaohio]

hi everyone!!

i just thought that since i am in the auto financing industry that i might share some insight.

i know there is alot of stigmas and bad talk about "buy here pay here" dealers but it may be something to consider fresh out of bk. this is a perfect way to get reliable transportation while keeping alot of $$$ in your pocket.

if you can come up with a down payment ($500+) you can get into a decent car with reasonable payments. and guess what? most payment plans are done in 1-1 1/2 years. although there are some crooks out there, many dealers are honest (like myself). i don't knowingly sell a car with problems. as a matter of fact, if i suspect a car may have problems in the near future i get rid of it rather than retailing it. i offer service contracts (they aren't bs), and i offer 1 year same as cash (no interest). i offer reasonable payments. my average payment is $250 a month.

i have the ability to pull credit reports when a customer comes on my lot, but i don't. my main concerns are attitude, consistent income, valid license & and proof of address.

sounds like alot of people are concerned with buying a brand new car soon after bankrupcty. i must say buying a brand new car is the worst investment one can make! even with low interest, let alone 20%+ that most of us are faced with after bk it is a horrible way to spend your money. it does not make sense to make payments for 6 years on a such a depreciable item that is worth 25% of what you paid when you're done.

personally, i have a limit of $5000 on any car i purchase for my use.

the best recommendations i can make in dealing with a "buy here pay here" dealer are: have a good attitude, don't try to negotiate too much (they usually don't price them with much room if any), have the car inspected prior to purchasing it, check the nada or blue book values, and don't accept a payment plan over 2 years. the bigger the dealer, the bigger the price (larger dealers have more overhead expenses, therefore higher prices)

i'm not trying to advertise, i am just suggesting an option that many probably don't consider. i know that many folks feel embarrassed to drive a less than new car, but we need to prioritize our finances. where is that brand new car going to get you?