Buy Here Pay Here Business Plan – Get approved in minutes, not hours! 6 months to build payment or approval 100% bad credit, no credit, bankruptcy or OAC or OAD suspension
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Do you want to sell your car? Book a visit to your car dealership and enjoy the benefits of selling your car at the lowest possible price.
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If you’re looking for a used car dealership with a pay-to-buy business model in Los Angeles or the surrounding area, Hawthorne Auto Square has a pricing plan for you. Our home finance is all about streamlining the process so you can buy the perfect car and pay big bills the same day. As a Los Angeles used car dealership, we offer high-quality used cars for every budget at great prices and better financing options.
If you are looking for a used car dealership in Los Angeles with low down payment options and no credit, visit Hawthorne Auto Square today. We bring you a great car that fits your budget without the hassle.
At Hawthorne Auto Square, all used cars are evaluated before they are sold. Customers can be confident that the vehicles they drive are safe and have passed extensive inspections. Buying a used car is a great way to buy your next car because you can get high quality for a fraction of the list price. Helps you find models that perform well.
Hawthorne Auto Square prides itself on great customer service. Our dedicated staff works hard to ensure that every customer who comes through our doors finds the perfect used car for them. We always get great customer ratings and reviews, but more than that, we’re happy to provide great, reliable cars to many families through our Buy Here Pay Finance model. Customers who visit our Los Angeles used car dealerships typically find that our financing options allow them to purchase the car of their dreams.
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We take great pride in helping people find the best car for their budget and needs. Often far beyond the type of car they had in mind. We take great reviews, high recommendations and returning customers as a sign that we offer more than most people expect from the average Los Angeles used car dealership.
Hawthorne Auto Square offers a variety of makes and models to suit every style and sensibility. All gently used vehicles are available here with purchase financing options. If you are looking for a used car dealer near Los Angeles where you can find your dream car today, look no further. We are proud to offer a wide range of gently used luxury vehicles including Mercedes-Benz, BMW and Lexus. If you’re looking for something a little more understated, there’s also a range of high-quality performance vehicles, including Dodge, Chevy, Honda and Ford.
Customers shopping at Los Angeles used car dealerships will find a variety of options for the following new vehicles. Hawthorne Auto Square supports vehicle maintenance and service and offers a 6-month warranty on every single vehicle on site.
With experts to help with every aspect of the car shopping or car ownership experience, Hawthorne Auto Square provides finance, auto service and a wide range of vehicles for car buyers in Los Angeles, CA. Tiffany Lee wanted a car. She was exhausted from the two-hour bus ride from the UCLA Health System Clinic to her job. She hated asking her friend to take her 7-year-old son to her asthma treatment.
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However, as a single mother of three, she had bad credit and could not find a bank or dealer to get a loan for $27,000 a year.
Another buyer may break the deal he offers. Lee thought she had no choice. He paid $3,000, agreed to pay $387 per month for four years, and drove away in a 2007 Ford Fusion. Interest rate: 20.7%, nearly three times the national average for used car loans.
After a year and a half, Mr. Lee was unable to pay his debts and filed for bankruptcy. So he was relieved when the dealer called and offered to make the loan cheaper. The sales manager even promised to come out with a smog free check. My aunt, 35, drove back to the Refuse Auto on a rainy Monday evening, handed the keys to her secretary, and sat down with the manager.
Tiffany Lee, a single mother of three with a two-hour bus ride to work, desperately needed a car. Unable to find a bank or dealership that would give him a loan, he turned to Repossess Auto Sales.
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She said there will be no new contracts. Mr. Lee’s car was recovered. She and her children waited in the rain for her friend to take them home.
Lee, who described the night as “one of the worst experiences of my life,” plunged into the seedy world of used cars.
In a little-known but fast-growing automotive market, dealers charge premium prices for road-worn cars with sales financing at interest rates as high as 30%.
In a sort of financial alchemy, they’ve found a way to turn odds and ends into cash cows and make money off customers with the worst credit. Millions of Americans are stuck in unpaid jobs, saddled with debt, and unable to qualify for conventional cars. loan
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For most of them, having a car is the only way to stay employed and will accept almost any condition to get one.
According to CNW Marketing Research, Buy Here Pay Here lots sold nearly 2.4 million cars nationwide last year, up from 1.3 million a decade ago.
CNW estimates that there are more than 33,000 new car dealerships nationwide compared to around 20,000. According to Federal Deposit Insurance Corp, by buying here and paying here, merchants get $80 billion in loans each year.
Merchants don’t want to open their books, but profit margins average nearly 40%, according to the National Alliance of Buy Here Pay Here Dealers, a trading group. That’s double what new car dealers make.
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Most lots require customers to come back once or twice a month to pay off cash advances. Hence the term Buy Here Pay Here is used.
A key reason the industry has been able to grow during difficult times is that dealers can know ahead of time whether their customers will continue to pay off their loans.
About 1 in 4 standard buyers. That would be bad news for the real estate and credit card industries. In a Buy Here Pay Here world, this is just another way to make a profit. The car can be immediately handed over and returned to the parking lot for sale. The cycle begins again when a new buyer makes a down payment and takes out a high-interest loan.
Because they are indestructible, these recycled cars pay dividends. Some dealerships have sold and resold cars 3, 4, and even 8 times, respectively, according to vehicle records.
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Unknown outside the automotive and finance industries, Buy Here Pay Here retailers have a larger share of the market.
Also, these inherited wheels hold their value very well. Records show that the selling price is often higher the second or third time a car is sold. The record is a testament to the desperation of buyers and the market dominance of Buy Here Pay Here as the lender of last resort.
Default and recovery are so business-critical that many retailers plan for both. Cars are equipped with hidden GPS units and remote control ignition interlocks to make the brakeman’s job easier.
Many people follow their customers for years after their car is reclaimed and resold. Some hire lawyers and file dozens of lawsuits each month to recover unpaid balances and garnish debtors’ wages.
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One large retailer, Neil’s Finance Plaza in Kansas City, Missouri, has records of more than 6,000 complaints since 1995 by employees seeking unpaid balances from delinquent customers. The dealership sells approximately 1,400 cars per year.
“Our customer has no money. He doesn’t plan for a rainy day,” Florida-based Buy Here Pay Here dealer consultant Chuck Bonanno told a recent industry conference in Las Vegas. “If you don’t, we don’t pay.”
California Department of Motor Vehicles records show that Hawthorne and another sister company’s Repossess Auto Sales have each sold more than 130 vehicles at least three times since 2008.
Dealers say they provide an invaluable service to those with bad credit, providing transportation for their families.
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They argue that the risks inherent in the business can be daunting and difficult to turn a profit on. You watch your investment decrease in value after each sale. “There is money.”
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