[Randall Aiu]

Hi Gustan. Hello Miss Bailey. Firstly as someone concerned for your well being, I would definitely recommend avoiding a Buy Here/Pay Here. You should not judge a book by its cover but at first glance these operations oftentimes appear cash strapped. They are often in lower commercial rent areas so therefore will have probably just a sales office with poor signage and a small service area if any. Lastly their inventory will be mediocre. Sadly they do fill a niche, but these are all warning signs that they will not have the resources to help you if the air conditioning stops working in a week or to even report your on time payments to the bureaus.

As a former Finance Manager at a large branded dealership, I recommend that is where you go. Pick a couple of the largest in your area as they will have an inventory that likely will have what you need. And their captive bank (such as Ford Credit, Toyota Financial or GM) will probably find a way to get your fiance’s loan done. And they will have good rapport with other major banks up and down the credit sprectrum such as Capital One, Santander, and Wesltake. If you are buying their vehicle, they will find a way. Or go to the next place. You will have to flexible with down payment and term etc.

As for the truck you have now, hopefully you are equitable and can use it as part of the down. To keep your name off the new loan you can sell it to the dealership. Explain your situation and objectives. Tell the salesperson that greets you that you have a special financing situation to save time. Talk to his sales or finance manager right away to avoid too many handshakes. A good team can find the right vehicle that can absorb whatever negativity you might have. Cash always helps so be prepared. You might have to put a substantial down payment to get in an equitable position on the new truck to get your finace’s approval or more favorable terms for your budget. Try to find the newest truck that fits your needs. With your finace’s provable income, these guys should find a way. You might have to show common residency too.

For your fiance to refinance the truck you have now is not worth the effort and the banks will think so also. It has age and miles and does not present itself as decent collateral even for your current bank. But you can try them, threaten them with default if you have to. But don’t default of course.

Best of luck, keep us posted.