Buying Used Cars in Anderson: Is $500 Down Offer a Scam?

Why would used car dealers finance vehicles worth thousands of dollars for just $500? Surely, they look to benefit through some shady deal where you pay less upfront but end up giving the dealership more money in the long run. Why else would a buy here pay here in Anderson, SC let you drive out with a fully-financed used car even when you had a poor credit score, to begin with?

A dealership with buy here pay here in Anderson with $500 down offers may seem like running a shady business but once you understand the underlying model, the whole package will appear entirely legit. A reputed dealership like Family Auto does not look to trick you. Valid reasons back our $500 down payment deal and you stand to benefit from the same from all angles.

What do dealerships mean by the $500 down deal?

It means exactly as it reads – you pay only $500 as a down payment to get your bad credit auto loan approved and pay the difference back to the BHPH dealer in monthly premiums. The $500-down deal is just like any other deal that you get from dealers in a competitive market. Dealerships compete with each other to attract customers and a low down payment is another offer that dealers provide to draw you away from their customers.

Is it a scam?

The $500-down deal might seem like a scam because of the associated interest rate. A low down payment means that you are taking a high sum as an auto loan. And a high loan increases the associated risk factor, thus inflating your interest rate payable. But in Family Auto buy here pay here in Anderson, South Carolina, you can both pay a low interest rate and $500 as down. From our massive inventory, pick a used car in the affordable range, take a manageable auto loan, and do not let the down payment affect your interest rate.

$500-down deal is not a scam as long as you have the flexibility of choosing a used car in any price range. The idea at top dealerships is to always enable you to stick to your budget.

Is the $500-down deal worth taking?

Yes, it might increase your interest rate a bit, but it is still worth taking if $500 is all that you can afford now as a down payment. Buying a used car is a major expense and you will have to pay the entire sum off from your income. If you do not have much saved or the cash available to you at home is tight, the $500-down deal is an excellent way to get started. Again, by sticking to affordable used cars in a buy here pay here in Anderson, SC, with a massive inventory, you can diminish the influence of interest rates. When planned right, the $500-down deal can help you.

So, keep your worries aside about a buy here pay here in Anderson with $500 down offers. In Family Auto, we assure you quality, both in financing and used cars, and give you nothing but the best buying experience.