{"id":2445,"date":"2021-02-09T12:35:00","date_gmt":"2021-02-09T12:35:00","guid":{"rendered":"https:\/\/www.dealerfireblog.com\/thirdcoastautos\/?p=2445"},"modified":"2021-02-09T12:35:00","modified_gmt":"2021-02-09T12:35:00","slug":"does-buy-here-pay-here-financing-hurt-my-credit-score","status":"publish","type":"post","link":"https:\/\/www.thirdcoastautos.com\/blog\/does-buy-here-pay-here-financing-hurt-my-credit-score\/","title":{"rendered":"Learn more about your financing options available at Third Coast Auto Group"},"content":{"rendered":"

Does buy here, pay here financing hurt my credit score?<\/span>\u00a0<\/span><\/h2>\n

Finding financing to buy a car, truck or SUV can be a steep hill to climb under the best of circumstances. People who find themselves in a less-than-ideal credit situation<\/span>\u00a0may very well have an even more difficult time successfully getting a car loan. There are some things that can be done to rebuild credit<\/a>, but that process can take a while.\u00a0<\/span>Third Coast Auto Group is what is known in the industry as a buy here, pay here dealership \u2013 meaning we largely handle financing in-house. If you\u2019re wondering, \u2018Does bu<\/span>y here, pay here financing hurt my credit score,\u2019 our team has some answers for you.<\/span>\u00a0Let\u2019s\u00a0<\/span>take a look<\/span> at a few common questions\u00a0our team gets asked\u00a0<\/span>each<\/span>\u00a0<\/span>week.<\/span>\u00a0<\/span><\/p>\n

READ MORE: Do you have enough car insurance?<\/a><\/span><\/strong>\u00a0<\/span><\/p>\n\n\n

The simple answer to the original question, \u2018Does buy here, pay here financing hurt my credit score,\u2019 is, no, it doesn\u2019t. A so-called\u00a0\u2018hard\u2019 credit check isn\u2019t run by a buy here, pay here\u00a0(BH\/PH)\u00a0dealers, so the various credit reporting agencies (Experian, TransUnion,\u00a0Equifax)\u00a0aren\u2019t really involved in the process.\u00a0Some\u00a0BH\/PH dealers don\u2019t report on-time payments to the credit agencies. While\u00a0this\u00a0may not be ideal for rebuilding credit, if someone falls behind on payments, a repossession may not actually show up on a future credit pull.\u00a0\u00a0<\/p>\n\n\n\n

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How does buy here, pay here financing work? <\/h3>\n\n\n\n

The buy here, pay here model financing model used at Third Coast Auto Group is pretty simple. Basically, a customer chooses a vehicle, and they make their payments directly to us instead of a bank, credit union or third party financial institution. This gives our finance team quite a bit of space to work toward getting people the vehicle they want. <\/p>\n\n\n\n

Is buy here, pay here financing my only option if I have bad credit? <\/h3>\n\n\n\n

There is no point in sugar-coating the fact that people with low credit scores are going to have a tough time getting a car loan. However, that is not to say there are no available options<\/a>. People\u00a0with a low credit score should also\u00a0look into\u00a0some of these options:\u00a0<\/p>\n\n\n\n

\u2022 Find a trusted co-signer 
\u2022 Apply for a loan with a local credit union 
\u2022 Look for a \u2018Second-Chance\u2019 loan program 
\u2022 Research online lending options. <\/p>\n\n\n\n

If you need additional help finding a safe and reliable vehicle, as well as a way to pay for it, make an appointment with a Third Coast Auto Group product expert today.<\/p>\n","protected":false},"excerpt":{"rendered":"

Does buy here, pay here financing hurt my credit score?\u00a0 Finding financing to buy a car, truck or SUV can be a steep hill to climb under the best of circumstances. People who find themselves in a less-than-ideal credit situation\u00a0may very well have an even more difficult time successfully getting a car loan. There are […]<\/p>\n","protected":false},"author":1,"featured_media":2446,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[11,9,8],"tags":[],"yoast_head":"\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\n\n\t\n