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Benefits of Rent-to-Own Cars Over Buy Here Pay Here

Buy Here Pay Here. If you aren't well-versed in auto industry lingo, that phrase might seem redundant. After all, when you buy something, you almost always pay for it on the spot. However, when it comes to auto financing, Buy Here Pay Here refers to dealerships that offer loans to consumers who wouldn't otherwise qualify for a traditional auto loan. So instead of paying a lender, the customer pays the dealership. Rent-to-own dealerships, on the other hand, allow customers to make weekly payments and when they've completed those scheduled payments, they will own the car they have been renting.

Both of these options are commonly considered by consumers who need a car but lack cash and credit. However, there are many benefits of Rent-to-Own cars over Buy Here Pay Here. Don't believe me? Scroll down to learn more.

 benefits of rent-to-own cars

Benefits of Rent-to-Own Cars Over Buy Here Pay Here

Reasonable Interest Rates.

If you've researched Buy Here Pay Here dealerships at all, you'll know that they are infamous for having extremely high interest rates. Don't be surprised if you walk away with rates hovering around 30-35%—they're unfortunately common in this industry. To avoid those extravagant, inflated interest rates, try a Rent-to-Own dealership instead.

Very Few Taxes.

Although Rent-to-Own dealerships vary, some offer cars with no upfront sales tax or property tax. Everyone hates taxes, especially those who need a car fast but are short on cash. Buy Here Pay Here dealerships, on the other hand, in addition to charging sky-high interest rates, regular payments, and a one-time down payment, will also ask you to pay sales tax. Wouldn't you love to bypass all those pesky taxes?

A Protective Warranty

Most of the time, Rent-to-Own dealerships offer warranties on the majority of their vehicles. So if your car breaks down, needs a repair, or is damaged, you will have a warranty to back you up. If this is important to you, be sure to seek out a Rent-to-Own dealership that offers a warranty on your preferred vehicle. Your alternative, a Buy Here Pay Here dealership, will almost certainly not offer a warranty. They aren't common in the Buy Here Pay Here industry, so you will probably have to shell out your own hard-earned cash for the repairs.

Your Car Will Be Licensed

Although this service isn't offered at every Rent-to-Own dealership, some dealers will license your vehicle ahead of time and you won't have to pay any licensing fees. When you arrive, your vehicle will already be tagged and ready to go! Do you think you'll find a convenient service like this at a Buy Here Pay Here dealership? Not likely!

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Although both services cater to those who need a car fast, lack exceptional credit, and can't pay for a car out-of-pocket, you'll find more savings and less frustration at a Rent-to-Own dealership.

If you're interested in renting-to-own or leasing a car, be sure to check out Auto By Rent, the largest rent-to-own/lease auto dealer in Missouri and Tennessee. We can help you secure a quality vehicle regardless of your credit history. To learn more about our services, please click here for a free quote or contact the location nearest to you:

North Springfield: 417-447-7979

South Springfield: 417-877-2001

Joplin: 417-553-0555

Marshfield: 417-859-6363

Rogersville: 417-753-3669

Chattanooga: 423-553-8200

We look forward to hearing from you!