Buy Here Pay Here Car Financing

Buy here pay here car financing is available only through certain used car dealers that own and operate a Related Finance Company or RFC. It’s a specialized type of auto lending and it serves the most credit challenged population. Buying a car with especially bad credit can be a particularly challenging experience. In fact, many individuals go from dealership to dealership only to be rejected time and time again.

At CarLotLoans we simplify the process so you don’t have to go from dealer to dealer and wonder if you can get financing. We’ve contracted with a nationwide network of buy here pay here car dealers who are ready and willing to help you. Simply apply online and a credit specialist from one of our participating auto dealers will help you with your purchase.

What You Need To Qualify

When we say we get financing offers for people with bad credit, it’s for people with really bad credit. We’re talking FICO scores at or below 550, people with histories of one or more bankruptcies, recent repossessions and foreclosures – even open bankruptcies. It’s this particular group of people that cannot get financing anywhere else. If you have tried and been denied for an auto loan, it’s time to apply with CarLotLoans. Here’s s few items you’ll need to qualify:

  1. Income. A job with gross monthly income of at least $1,200 from a verifiable source.
  2. Job stability. The farther back your current employment history goes, the better. Our dealership partners usually require at least one year on the same job.
  3. Residence stability. Of course, the farther back your current residence history goes, the better, but usually one year at your current address is required.
  4. Down Payment. You will need to have some amount of a down payment. The exact amount depends on your personal credit history and type of vehicle you purchase.

Your credit history doesn’t really factor into the buy here pay here car financing equation. You can, however, expect our dealers to pull a credit report to see how bad things really are and to verify your identity and address.