Best Options for a Used Car in Kansas City
Missouri is home to over 385 car dealerships, which have created nearly 48,000 jobs across the state in modern history. It’s clear the state owes a lot to its car dealerships and the people who keep them running, but it’s not the first thing that people attribute to our great state. Tourists, writers, and romantics think about Missouri attribute our famous barbecue, breweries, or the way the Ozarks look in the spring to the state. For the people who live in Missouri, these things are easy to love, but day to day life must also be thought about in its stead, and one of those tenants of daily life is driving.
Part of what makes driving - a daily chore for most - so tolerable is in the comfort of the ride. Each one of the 385 different dealerships in the state will likely make offers about their car dealerships, but it is up to car buyers to decide what the best places for a used car in Missouri and metros like Kansas City are. For many buyers, the ease, flexibility, and variety offered by Buy Here Pay Here lots like AutoBank of Kansas City are the best places to get a used car in the state.
What is a Buy Here Pay Here Lot?
Buy here pay here auto sales companies are used car dealerships with on-site financing options for most buyers. Buyers looking for a used car come to the lot with an idea of what they are looking for and they go over options with their salespersons. Usually, salespeople at buy here pay here lots will afford many of the same opportunities as mainstream dealerships, such as allowing potential buyers to take cars out for a test drive. Buy here pay here lots are unique, however, because they will usually allow those with lower credit scores to finance cars. Mainstream car lots will usually not allow this, and it is hard to get a bank loan with lower credit scores.
Why Buy From a Buy Here Pay Here Lot?
Buy here pay here lots are for a variety of people, not just those with low credit scores or those who have had a difficult time obtaining a traditional loan for a car. Missouri residents choose to buy from a lot like AutoBank of Kansas City for reasons like the following.
- They need help making a low down payment on a used car. Buying a car from a traditional dealership requires a sizable down payment in most cases, and buying used from someone on a platform like Craigslist usually requires payment in full. For a large portion of car dealers, this is not realistic. Buy here pay here dealerships often have a small down payment requirement on their stock which helps customers buy a car from the lot.
- They need a car quickly. Dealerships usually have a waiting period and very rarely do they let you drive away with a car the same day. Many buy here pay here dealerships will allow you to drive away with a car on the same day, which is ideal for customers who need a car for work, travel, or other pressing reasons.
- They have poor credit and cannot obtain financing in any other way. Poor credit does not always indicate poor financial health, and buy here pay here lots understand this. Used car lots like AutoBank of Kansas City help those in need figure out just how much they can afford each month and offer viable options based on that figure. No credit rating is needed to finance a car with buy here pay here lots, which means almost anyone can obtain a car through a lot like this.
- They have poor credit and need a way to rebuild their credit. For those who need a car and a way to rebuild their credit, buy here pay here dealerships are excellent choices. Buy here pay here lots report payments to major credit bureaus, so each on-time car payment helps boost credit ratings.
What About Interest Rates?
For some, the myth of higher interest rates at buy here pay here lots has become so ingrained in their thinking that it will never be an option for them. Those people are missing out on an excellent opportunity to purchase a used car, especially since high interest rates are usually just as mythical as they sound. Where the worry about high interest rates began was in lending practices used for those who had poor credit. Much in the same way a title loan company might use physical collateral to ensure prompt and timely payments, buy here pay here dealerships use income calculators and interest rates to guarantee payments. While this might seem like an unfair advantage on the dealer’s part, it is actually put in place to ensure that the buyer gives thought to their purchase and does not end up paying more down the line. Not all customers have high interest rates, but even those that might have higher than average interest rates based on their credit score spend less time paying off their financed car, which eventually helps them save money down the line.
What Makes AutoBank of Kansas City Different?
There are hundreds of auto dealerships across the state, and among those car dealerships are many buy here pay here options. However, not all buy here pay here lots are the same. AutoBank of Kansas City has been in operation for just over five years but is owned and operated by Kansas City auto dealers who have been in the business for nearly 30 years. We offer competitive interest rates compared to other buy here pay here dealerships, secure online payments, and a 4.9/5 star rating provided by happy customers.
To get started on your next car purchase, stop by one of our two Kansas City locations - on Truman Road or East Front Street. Alternately, you can check out our diverse inventory of cars online and contact us if you see one you’re interested in. We’ll help you figure out your next affordable set of wheels.