Now if you're looking for a vehicle then you are obviously going to understand and notice that there are many different options available for getting financed. All of them are going to be very different and will typically cater to people in certain situations more likely than people who would be in other situations. This is generally common knowledge when it comes to loans in general though.
If you are looking into buying a car with rough credit though then there is a likely possibility that you will have come across the term rent to own cars. Rent to own cars are not something that is new and they are pretty self explanatory, but most people do not properly know the ins and outs before they sign up which they should. There is one major piece of advice that I have and that is to make sure that you know all about your purchase before you make it that is going to save you strides in the long run potentially.
Rent to own cars draw in a lot of people because the deal does sound attractive. In all reality it is exactly the same as a buy here pay here program. If you are unfamiliar with buy here pay here it is where the dealer will finance you and they hold ownership of the vehicle until you have finished paying it off. Simple enough concept and it works for a lot of people every day. Also you get a wide variety of options when it comes to payment such as going in and paying cash or directly to the dealer, and weekly, bi-weekly, or monthly options typically (this will vary depending on the dealership).
Good:
Bad:
As you can see there are definitely the pros and cons, but if you have bad credit then you may want to consider the other available options. This should be a last resort options and should only be considered after exhausting all other options. There will be many other options and they are much easier to find.
We can give a helping hand and make sure that you find the other option. If you have good credit or bad credit or even no credit then you will still have a great shot at getting a loan. It takes one application for car financing online through us and it costs nothing to apply. If anyone is going to be able to get you the deal that you need for a new or used car it is going to be FundingWay.com and if we can't do it then feel free to get a rent to own car.
If you are looking into buying a car with rough credit though then there is a likely possibility that you will have come across the term rent to own cars. Rent to own cars are not something that is new and they are pretty self explanatory, but most people do not properly know the ins and outs before they sign up which they should. There is one major piece of advice that I have and that is to make sure that you know all about your purchase before you make it that is going to save you strides in the long run potentially.
The Allure of Rent to Own
Rent to own cars draw in a lot of people because the deal does sound attractive. In all reality it is exactly the same as a buy here pay here program. If you are unfamiliar with buy here pay here it is where the dealer will finance you and they hold ownership of the vehicle until you have finished paying it off. Simple enough concept and it works for a lot of people every day. Also you get a wide variety of options when it comes to payment such as going in and paying cash or directly to the dealer, and weekly, bi-weekly, or monthly options typically (this will vary depending on the dealership). The Rundown
Now there is of course going to be good and bad like with any situation and here listed are the main points that you need to know on both sides.Good:
- Typically low priced vehicles.
- It is all done in person so you have the chance to get to know who you're dealing with.
- Most rental dealers are not going to run a credit score check.
Bad:
- They will not send reports to credit companies.
- Usually not the greatest quality of vehicles (there are always exceptions though).
- Exclusively short term loans usually around 12 months.
As you can see there are definitely the pros and cons, but if you have bad credit then you may want to consider the other available options. This should be a last resort options and should only be considered after exhausting all other options. There will be many other options and they are much easier to find.
We can give a helping hand and make sure that you find the other option. If you have good credit or bad credit or even no credit then you will still have a great shot at getting a loan. It takes one application for car financing online through us and it costs nothing to apply. If anyone is going to be able to get you the deal that you need for a new or used car it is going to be FundingWay.com and if we can't do it then feel free to get a rent to own car.