BHPH Loans Give Car Buyers with Bad Credit a Shot at the Driver's Seat

With consumer debt rising to new heights, more and more Americans find themselves unhappily classed as unbankable customers - an unfortunate situation to be in for someone who's planning on buying a car.

Greenwood,, IN (prHWY.com) April 17, 2012 - Indianapolis, Indiana (April 10, 2012) - Last February, the Federal Reserve released a consumer credit report estimating the total revolving debt in the United States to be around $800 billion or nearly $16,000 per household with credit card debt. With consumer debt rising to new heights, more and more Americans find themselves unhappily classed as unbankable customers - an unfortunate situation to be in for someone who's planning on buying a car.

Fortunately for these would-be car buyers, reputable new and used car dealerships such as Ray Skillman Ford offer in-house financing programs that give customers with bad credit a shot at owning a quality pre-owned vehicle. With the kind of Buy Here Pay Here Indianapolis, IN dealerships offer, ineligibility for conventional lending programs from banks and other third-party lenders is no longer an issue.

The lending process for the kind of Buy Here Pay Here Indianapolis, Indiana auto giant Ray Skillman offers follows a simple model. It begins with a credit check and an interview between the dealer and the prospective buyer. This allows the dealer to get a general idea of the customer's financial situation, enabling him or her to determine which vehicles best fit the latter's budget.

After determining which cars the buyer can reasonably afford, getting familiar with the available vehicles is the next item on the agenda. The process is the reverse of that which is followed when it comes to traditional loan programs, where exploring payment options typically comes last.

Dealing only with reputable dealerships is a must because the kind of Buy Here Pay Here Indianapolis, IN dealerships offer comes with a caveat standard in nearly all types of short-term loans: higher interest rates. Another downside, this time unique to these in-house financing schemes, is that car choices are limited to what is on hand and to what falls within the buyer's price range.

Despite the warnings, however, Buy Here Pay Here loans are a breath of fresh air for the credit-challenged car buyer. Through BHPH financing, Ray Skillman gives customers an opportunity not only to drive off in a car of their own but also to reestablish their credit ratings.

Interested parties can learn all about Buy Here Pay Here financing at Ray Skillman Ford by visiting www.RaySkillmanFord.com.

About Ray Skillman Ford

Located at 1250 US 31 South, Greenwood, IN, Ray Skillman Ford has been an automotive leader in the Indianapolis metro area for years. The dealership boasts an impressive selection of new and pre-owned vehicles, a first-class auto repair and collision center, and excellent auto financing options like the kind of Buy Here Pay Here Indianapolis, Indiana car buyers need.

To learn more, call (800) 416-5555 today.

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Tag Words: car dealer indianapolis

Categories: Automotive

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1250 US 31 South, Greenwood, IN / 800-416-5555

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