by How do dealerships afford to sell used cars just with $500 as down payments? Is the offer just like any other marketing gimmick that is targeted to benefit off customers? Do you get reliable cars with such low down payments or is there a special term that you must satisfy before becoming eligible for the low down? All these are natural questions that might crop up in anyone’s mind. You may have others as well while searching deeper for $500 down cars near me. But if you understand the business model surrounding the concept, all your doubts will clear up at once.
In this post, we target that purpose. We explain to you Family Auto’s reasons for offering $500 down used cars to customers. On the surface, it might seem like an offer too good to be true but when you understand the foundation, the deal will seem legitimate.
The buy here pay here is a competitive market
And all dealers must offer exciting deals to attract customers. Just like you now get 0% financing deals in the new car market, buy here pay here dealerships in Greenville extend a variety of financing deals to convince customers to buy from them. Family Auto’s $500 down deal has a similar purpose. We wish to attract customers and stay ahead in the race. And down payment flexibility is one of our deals. By paying just $500 upfront, you do not have to liquidate your savings. You can pay your credit from your earnings and keep your life’s financial stability intact.
The down payment is dependent on the used car
Obviously, you cannot pay $500 as down for any used car that you see in our buy here pay here in Greenville, SC. A vehicle that costs well over $15,000 cannot come for just $500 as down. This factor depends on your income to debt ratio which we read from your credit report. If the ratio is high, that is, your monthly income is way more than your debt payments, we can accommodate $500 down for a few used cars (but not all). As a lender, we need to ensure that you can handle the loan burden. And we do not wish to see you into bankruptcy. Our business model is to enable you to pay a low down payment that saves the interests of both sides intact.
The motive is to offer you flexibility
Family Auto is all about flexibility and options. Be it our inventory or financing, we always look to accommodate your needs. With our $500 down offer, we intend to bring flexible bad credit financing to you and remove all obstacles of buying a used car. We have the largest inventory of Toyota of Greenville used cars. The same is true for Honda, Kia, Ford, Chevy, Subaru and Nissan. And with just $500 down, you are sure to find a car of your choice in our dealership. Above all, our business motto is to treat you like family. Our $500 down offer serves that purpose as well. When you visit Family Auto, you get what you see without hidden terms and conditions.