Do Individual Sellers Sell to Buy Here Pay Here Dealers?
When it comes to purchasing used cars, you will naturally prefer a vehicle that was previously owned by an individual for personal or family use rather than any corporation. Even if you cannot find a direct individual seller, you will at least want to shop with a dealer who buys from individual sellers and has a fleet of such cars. This is where the question becomes important – do buy here pay here dealers absorb from individual sellers? And if yes, how?
Trade-ins bring in individually-owned vehicles
A few used car lots that finance also allows you to trade in your old car. This is how individually-owned cars primarily find their way to buy here pay here car lots. A customer looking for an upgrade can easily sell his/her old sedan to the dealer, which then becomes a part of the fleet, and goes home with a new used SUV which someone else might have sold to the dealer. In short, the buy here pay here dealers facilitate the exchange of used cars among sellers and buyers by acting as the middle-party and storing the cars in their inventory until the need to buy or sell arises among customers.
Tie-ups with auto loan lenders
Imagine an auto loan lender who lent to an individual to buy a new car. On the occasion where the car owner defaults on his/her auto loan payments, the lender takes possession of the car. Now, these lenders are not car sellers. But they do need to extract the money that they had lent. The easiest way out for them is to sell those vehicles to used car dealers which then become individually-owned buy here pay here used cars. Although such circumstances are rare, people do default on their auto loans and give up their cars in top-notch conditions. The buy here pay here dealer facilities the lender here to get back the sum fast.
However, lease, rental, and wholesale cars also available
Buy here pay here dealers also take in rental cars sold by car rental corporations. A few come from the wholesale market where they buy saleable cars. Indeed, not all buy here pay here used cars that you see in the lots are individually-owned. But if you pick a dealer like Family Auto who supports an easy customer-friendly trade-in policy, you might find a majority of individual-owned used cars. And even if you settle for the other types, you can be rest assured about the quality owning to their backing by warranties and market reputation.Pick the dealer right. Make sure quality is never secondary on their radar. Then, the ownership of the car you are about to buy will hardly matter.
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