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Can You Finance Buy Here Pay Here Used Cars in Greer with Zero Down Payment?

Zero down payments are one of those offers that are gaining popularity in the market. When you search online for a “used car dealership near me that finance,” it is not uncommon to find a few dealers who are willing to finance you for no down payment at all. On the surface, these dealers claim that you walk into their lot, split the entire credit amount into monthly payments, just pay the first payment, and walk out with the keys. Although enticing, such a deal rarely benefits the used car buyer, no matter what the price of the vehicle is that you just bought. So, even when zero-down offers are available in today’s competitive market, you need to exercise caution before stepping into such deals. You must ask what you are paying extra to avail such a deal.

The truth behind zero-down deals

If you are looking at buy here pay here used cars in Greer, it means that you currently have a poor credit score. And with a bad credit score, you will be paying a higher interest rate to any lender who is willing to finance you. Now, the interest rate payable does not technically depend on your credit score. It depends on the risk factor associated with you as a borrower.

Your credit score is the first indication of your high associated borrowing risk. The amount of loan you take next adds another layer of associated risk. As per the market standards, the higher the loan amount you take, the longer you will take to pay off the loan, and the greater the risk the lender carries of not being paid back. This added risk is compensated with yet higher interest rates which add on to the credit score-based rates and you pay extra in interests just because you took a greater sum in loan.

This is why most dealers are overexcited to hand you zero-down auto loans. With no down payment, you take a higher sum as a loan, and you pay extra in interest payments that are ultimately the dealer’s profits. Hence, always try to pay as much down payment as you can. Search for that buy here pay here dealership near me which gives you flexible down payment options so that you can design the financing plan as per your affordability and not the dealership’s profit-making plans.

Zero-down possible at Family Auto with no extra interest payments

How? Through our industry-leading trade-in offer. If you have a used car to sell, bring it to Family Auto and trade in the vehicle to buy your next used car. We offer competitive resale rates that allow you to pay zero down payment if the dollar value of your old car is sufficient to cover the down requirements. Still, we recommend that you pay at least $500 added down payment if you can afford the same. It will only bring down your loan amount and help you to save on interest payments. The ultimate decision is yours. Trade-in your car, pick an affordable vehicle from our vast inventory, and buy a quality vehicle by paying nothing as a down payment. Our down offers are flexible. Our financing deals are designed to benefit you. The best buy here pay here used cars in Greer await you in our dealership for a down payment that you can afford.

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