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Plus, in-house loans have high interest, causing you to owe more than if you’d borrowed from a traditional lender. We put a lot of heart and effort into regularly updating our inventory to ensure you have access to the latest and greatest used luxury cars for sale. Whether you are looking for speed, style, or comfort, we have the perfect car for you.
Enliven Your Life on the Road with a Luxury Car
Compared to traditional car loans, in-house loans are much easier to qualify for. The dealership sets its own eligibility requirements instead of following those of a bank or finance company. We are an established car dealership with years of professional experience in the auto industry. It's why we offer the best customer service and guaranteed best pricing for our luxury cars for sale. When you buy and finance a car at a traditional car dealership, you choose a car and then the dealer typically passes your information to a network of potential third-party lenders.
The Best Deals with the Best Service
For starters, because most don’t run credit checks, they may not report on-time payments to the credit bureaus. If buy-here, pay-here financing is all you’ve considered so far, look elsewhere. Start by checking your credit scores, then compare auto loan quotes online and at credit unions and banks. Credit unions may be more willing to work with members who have less-than-perfect credit. Buy-here, pay-here car dealerships may or may not report your loan to the consumer credit bureaus — it’s up to them. Make sure to ask before you buy if you’re hoping to have payments reported to help you build your credit.
We’ve helped thousands of people with bad credit obtain financing and low monthly payments.
How much you need varies by dealer, and often depends on the cost of the car you choose. You can use cash, trade-in equity, or a combination of both to make the down payment. Bank loans tend to have competitive rates and are far superior to in-house financing. Even so, leave in-house financing as a last resort, and know what you’re getting into before signing. These loans come with high interest rates, sometimes at predatory levels. Also, in-house financing can increase your chances of ending up upside down on your loan — partly because the cars are older, and partly because the loans are so expensive.
Dealer-arranged financing is not the same as in-house financing, but the process is similar. However, a finance company or bank will fund the loan rather than the dealership itself. People who turn to in-house financing often have bad (or no) credit. Since the dealership knows they might be the only ones willing to lend to these buyers, they charge ultra-high interest rates and fees. In-house financing allows them to sell more cars (since more people qualify). At Hawthorne Auto Square, each of our gently used cars is thoroughly evaluated before we offer it for sale.
Our customers can rest assured the car they’re driving off the lot is safe and has gone through an extensive inspection. Buying used is a sound way to purchase your next vehicle because you will be receiving a high quality for a fraction of the sticker price. We make sure that you’re getting a model that performs excellently, as well.
A potentially cheaper option is buying a used car from a private seller. While you’ll need to handle the paperwork and transfer of ownership yourself, you could pay even less for the vehicle in a private transaction. Getting a vehicle history report and paying for an inspection can help protect you from buying a lemon. Dealers want to be sure they can easily repossess the car if you stop making your payments.
Fully Serviced Luxury Vehicles
If you can hold off on your car purchase, consider taking the time to save for a down payment. Once you’ve saved enough money, the down payment may help you qualify for an auto loan with a lower interest rate. First, you’ll likely pay a higher interest rate than you would with a traditional car loan.
People with rough credit, or little to no credit history, may not be able to get approved for a traditional auto loan. They also might not have the money they need for a car down payment. Additionally, if you make your payments when they are due for a reasonable period of time, the dealership may allow you to refinance and reduce your rate.
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So, if you wish to get your hands on your dream luxury car, don't settle for anything less than exemplary service. All our luxury used cars for sale in Los Angeles have been fully serviced. We go above and beyond to hand-select reliable vehicles and inspect them rigorously. The comprehensive history report and thorough inspection ensure your confidence in your purchase.
Customers shopping at our Los Angeles used car dealership can find plenty of options for their next new car. At Hawthorne Auto Square, we stand behind our maintenance and car service & also offer a six-month warranty on every single car on the lot. Our clients have high expectations for their vehicles, and equally high expectations for the dealership professionals who serve them. JS LOVE MOTORS is widely recognized as amongst the best in reliability, value, and customer approval in both quality sales and service. Feel free to call us with any questions at the number above, and we will show you that exceptional standard of customer satisfaction.
All of our gently used cars are available with our buy here pay here financing options. If you’re looking for a used car dealer near Los Angeles that can get you in your dream car today, look no further. We’re proud to offer a great selection of gently used luxury cars, such as Mercedes-Benz, BMW, and Lexus.
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If you’re in the market for something more understated, we also have a great selection of high quality, great performance vehicles, such as Dodge, Chevy, Honda, and Ford. Buy-here, pay-here dealerships may not cut you any slack when it comes to the interest you’d pay on a loan. According to a 2018 NIADA study, the average interest rate on this type of loan hovers around 20%, which is much higher than what you’d find with an auto loan at most banks and credit unions. If your dealership didn’t check your credit before offering you a loan, chances are it doesn’t report to the credit bureaus.
You may need to make weekly or biweekly payments to the dealer, which can be inconvenient compared with a monthly payment plan. And the payment goes directly to the dealer, not a bank, so options for how you make your payment (pay by phone, check, etc.) may be more limited than with a traditional auto loan. The offers for financial products you see on our platform come from companies who pay us. The money we make helps us give you access to free credit scores and reports and helps us create our other great tools and educational materials. In-house financing exists as a tool for dealerships to sell more cars to more people. Dealerships that offer such services realize that there is a large contingent of potential buyers who are unable to purchase a car through traditional means, often due to poor credit.
If you’re approved for a car loan, you make monthly payments to the lender that finances the loan. With buy-here, pay-here loans, the car dealership acts as both the seller and the lender by offering in-house financing. Dealers sometimes advertise these loans as “no credit check” loans, which can make them especially appealing if you have low credit scores.
People looking to buy a car in California have several options available to them no matter their current credit situation. Many car loans and leasing options can be found with reasonable interest rates even if you have no credit. Some of the best loan and leases are offered through vehicle retailers for both poor credit and previous bankruptcy.
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