OUR IN-HOUSE FINANCING

The term “Buy Here Pay Here” (BHPH) refers to a method of running an automobile dealership in which the dealer extends financing to the buyer, either directly or through a private in-house lender. Dealerships that are not “BHPH” typically use the auto manufacturer’s credit company to finance the buyer’s loan—and their requirements are based on a good credit score, a significant down payment and loan that is long-term. 

WHAT ARE THE BENEFITS OF BUY HERE PAY HERE?

  • Auto loans are NOT based on credit; they are based on income and residence
  • You can be approved with Social Security, pension and self-employment income
  • You can be approved with prior repossessions or bankruptcies
  • You can be pre-approved over the phone, in 5 minutes or less… without giving us your Social Security number
  • Loans are short-term–not a long commitment–and are geared to helping you BUILD CREDIT FAST
  • We have flexible insurance options so you can SAVE $$$ on insurance costs
  • Easy weekly, bi-weekly and monthly payments
  • Very low down payments
  • There’s a higher level of commitment to quality vehicles because the dealers don’t get paid unless you continue to make your payments
  • There’s a vested interest in making sure your payments are within your budget
  • Even people without bad credit can benefit from in-house financing

WHY IS LaBate Auto Sales FROM OTHER BUY AND PAY HERE CAR LOTS?

Some Buy/Pay Here car lots may, in turn, resell a loan to an outside funder such as a bank. LaBate Auto Sales never resells a loan. Our private funder is the only source of our loans. That means our continued success lies in your ability to make your loan payments. WE DON’T GET PAID unless you continue to make your payments.

But that’s a good thing. It means that we’re invested with you not only from Day 1, but every day until your loan is paid off. So your ability to drive to work every day is just as important to you as it is to us!

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