Sometimes, instead of “Buy Here Pay Here” you’ll hear “on the spot financing” or “tote the note.” All these expressions mean is that, by purchasing your used car, truck or van through a Buy Here Pay Here dealership, you essentially get financed through CarHop rather than through a bank. Unlike other used car dealerships, we don’t hand off your credit application to a bank – we work with our own exclusive lender to get you approved without a traditional car loan from a bank. So if you suffer from bad credit or no credit, this approach might be your best option.
Another benefit of purchasing through CarHop is that CarHop reports your consistent, on-time payments to credit bureaus, which helps to improve your credit score. As long as you stay on time and don’t miss your payments, you have an opportunity to improve your poor credit with every payment you make. By improving your bad credit through CarHop, you’ll have new opportunities buy a home, or accomplish many other things you can’t do if you suffer from bad credit.
When purchasing your new vehicle, you’ll also want to watch for any type of warranty offered. Most dealerships sell cars “as is,” but CarHop offers a warranty* with our vehicles. So if you purchase your car through CarHop, you not only get a reliable vehicle, but you also get an excellent warranty* with your purchase to ensure your satisfaction.
So all in all, if have poor or no credit, and are shopping for a used vehicle, keep your eyes peeled for the CarHop sign – or you can apply for financing online! With our Buy Here Pay Here approach, our regular credit reporting to help you improve your credit score, and our warranty*, CarHop provides a valuable service to our customers who can’t get car loans from banks or other dealers.
Our mission is Helping People Drive®, and we look forward to helping all of our customers get behind the wheel of the new car, truck or van they need. If you need to get on the road today, don’t wait – apply for financing online now!
*See dealer for copy of limited warranty.