What Does Guaranteed Car Financing Mean?

May 11th, 2021 by
Couple sitting at sales desk at dealership

Looking to buy a car with credit that’s seen better days? Guaranteed financing is an option you’ll want to consider. Guaranteed financing is also called “buy here, pay here” financing and is an option for those with less-than-perfect credit. However, before Googling “guaranteed car financing near me” and “guaranteed car finance dealers,” you’ll want to check out our quick guide to what the guaranteed car finance process could mean for you! Read on to discover more, then contact ustoday to find out if guaranteed car financing is an option for you!

Guaranteed Car Finance Plans

Guaranteed car finance plans are nearly always available for you at dealerships with in-house financing because it makes car buying more accessible for many different driver, regardless of credit history. A guaranteed car finance plan, unlike traditional financing, doesn’t require a credit check. In-house guaranteed car finance dealers, conversely, use your income to decide what you could qualify for. Generally, dealers require a minimum income before moving forward.

Can In-House Financing Help Build Credit?

Absolutely! Many local in-house financing dealerships report vehicle payments to major credit bureaus. Therefore, if you make on-time car payments, they’ll develop your credit score, which will result in an improved credit score in the future. With guaranteed car finance options, you can get the vehicle you want and need with the potential to develop credit at the same. If you’re thinking about developing credit, you’ll want to consider asking if the vehicle dealer reports to major credit bureaus.

Why Guaranteed Car Finance?

If your credit needs work, guaranteed car financing can be a hassle-free and convenient way to get behind the wheel. You can easily get vehicle pre-approval and drive off the car dealer’s lot the same-day. You’ll need to meet preset requirements, of course, present the correct paperwork, and make a sufficient vehicle down payment.

Depend on Perkins Motors for Expert Financing!

Now that you’ve learned more about guaranteed car financing options, it’s time to find out what’s right for you! You have many different options on your car financing journey, but depending on our expert finance center is just one way to get behind the wheel of the car of your dreams, even if your credit is less than perfect! Check out our dealer specials, FAQ on trading in a car and apply for financing online, then contact us today to learn more about your car financing options!

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