The 2005 Chevrolet Malibu 4 cylinder or 6 cylinder provides low priced sound transportation. They are mainstays on the typical BHPH lot. They are well equipped, inexpensive, and roadworthy. They are generally a good ride and we recommend them. However, check underneath and watch out for rust. There have been some transmission problems reported, so get a warranty.
Pros: Roadworthy, great transportation, inexpensive
This article was written by Brian McCormick of Providence, Rhode Island. Brian is a BHPH expert and has been involved in the used car and BHPH industry for over 10 years. He enjoys traveling and sports. Follow him on Google+
Please give my readers a history of Southside Motors. How long has your car dealership
been in business?
Guy: Mike and I opened Southside Motors in February of 2008. We felt the community would be best served by a new and independent Rent to Own dealership.
Does your dealership primarily sell domestic or foreign used cars? Or would you say it’s
a mix of both?
Guy: We definitely carry a mixed inventory of domestic and foreign used cars, minivans, SUVs, and crossovers available to Rent to Own or for sale.
If a person has just declared bankruptcy and they want to buy a vehicle, what do you
suggest they do?
Mike: Depending on how serious the situation is, a person might want to consider a dealership that offers Rent to Own, which doesn’t require a credit check and isn’t affected by things like prior repossessions, bankruptcies, or a poor employment history.
What’s the difference between RTO(Rent To Own) and BHPH?
Mike: BHPH dealerships have discretion in their lending practices, but they still have many of the same restrictions that any other lender would have, limiting the types of customers that they’re able to serve. Southside Motors’ Rent to Own (RTO) program, on the other hand, isn’t a loan. It’s a long-term lease with no credit check, manageable payments, and no cancellation penalties.
Should a consumer run their own credit report before they purchase a used car?
Mike: The Rent to Own program involves no credit check, so our customers don’t need to worry about that. However, a person should check his or her credit report periodically, regardless of whether making a large purchase like buying a car, just to make sure that all of the information is accurate. In fact, the federal government mandated several years ago that each of the three credit bureaus has to provide one annually for free.
Should a consumer bring any documentation with them before they walk into the car dealership?
Guy: Don’t forget your driver’s license, of course, and if you’ve got insurance already, bring the card along. Over 30 different insurance companies are acceptable under the RTO program. However, if you need to get insurance, we can help. The program also requires a list of references, which protects both us and the customer.
If you’re divorced and as a result of that divorce have bad credit, what tips would you offer the consumer on how to obtain a loan?
Again, we would recommend that someone in circumstances like that consider a Rent to Own dealership to avoid the need for a credit check.
What are some common buy here pay here misconceptions the public should be aware of?
Mike: Not being a BHPH dealership, we can’t really comment on misconceptions of that aspect of the industry. However, if you’ll let us address concerns people may have about Rent to Own… Our RTO agreements are underwritten by a nationally-recognized company, who holds us to a high standard of accountability. In addition, we’re subject to the same PennDOT licensure, certification, and training requirements as any other dealership and its staff, so customers remain thoroughly protected.
This is our thirtieth interview in our “1000 Interview Challenge” If your interested in an interview, please contact me.
This interview was conducted by Shane McC. Shane currently is attending RISD studying computer programming. He enjoys traveling and plays hockey. He played for the Boston Junior Bruins of the EJHL during the 01-02 season. You can follow him on Google+