Monday, 5 December 2011

Tough Times? On the Spot Financing Can Help

If you're going through a rough financial time in your life, you're not alone. If your financial problems have led to, or have contributed to a poor credit score, you're not alone either. On the spot financing, also known as buy here, pay here, might be able to help you get back on your feet.

The way the credit system is set up can sometimes be contradictory. If your credit score is low, the only way to build it back up is through credit cards or obtaining bank loans, then paying them off. But these same financial institutions will turn you down if you already have bad credit. Once you've been turned down, you may feel stuck, and you might not have much hope for improving your credit score. So how is it that on the spot financing can help you in this kind of predicament?

First of all, what is on the spot financing? On the spot financing is a type car dealership that supplies the vehicle AND the vehicle financing to people who have poor credit, or no credit at all. If you are trying to buy a car but cannot because banks turn you down for car loans due to your poor credit, then you may be interested in going to an on the spot financing dealership. Often times, going through this kind of dealership can be beneficial to people in multiple ways.

On the spot financing dealerships can finance a vehicle for you, when no one else is willing to. Some dealerships may even look at your finances to help you determine what plan is right for you. Secondly, you may get the opportunity to really improve your credit through certain on the spot financing dealerships. If you make your payments on time, pay off your vehicle early, or demonstrate any other kind of financial responsibility, dealerships may report you to credit bureaus. Once credit bureaus see this, your credit will improve. However, beware, many on the spot financing dealerships that claim to report to credit bureaus will actually only report you when you've missed a payment, thus damaging your credit and never giving you the chance to improve it. But a few of the good ones are on your side. They'll report your responsible behavior, giving you the opportunity to improve your credit. So make sure to do your research so you can work with the credible on the spot financing dealerships.

Bad credit can cause many people to feel stuck. On the spot financing is a great way to get back on your feet, as long as you work with a credible dealership.

CarHop has store locations in twelve states across the U.S. and specializes in helping car buyers with poor or no credit get approved for financing to get them driving again fast. Every CarHop vehicle includes an 18-month, 18,000 mile limited warranty at no extra charge. CarHop is now in its 15th year of pursuing its mission of "Helping People Drive®." For more information, please visit

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