Shaffer Investment Auto Inc Decatur

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Shaffer Investment Auto Inc. in Decatur, Illinois, is a used car dealership known for its focus on providing vehicles to customers with varying credit situations. While specifics on their exact inventory and service offerings can change, their general business model typically centers around offering financing options to individuals who may have difficulty securing loans from traditional lenders. This often includes individuals with bad credit, limited credit history, or those who are rebuilding their credit scores.

The dealership’s approach usually involves a “buy here, pay here” model. This means that Shaffer Investment Auto Inc. provides the financing directly to the customer, rather than relying on external banks or credit unions. Customers then make their car payments directly to the dealership, often on a weekly or bi-weekly basis. This direct relationship allows them to approve loans that other institutions might reject.

While this type of financing can be a lifeline for those needing transportation, it’s important for potential buyers to understand the terms and conditions carefully. Interest rates in “buy here, pay here” arrangements are often higher than those offered by traditional lenders, reflecting the increased risk the dealership takes in lending to individuals with less-than-perfect credit. Additionally, repayment schedules can be more frequent and potentially stricter.

Customers considering purchasing a vehicle from Shaffer Investment Auto Inc. should meticulously inspect the vehicles available. Due to the nature of the market served, the selection might include older models with higher mileage. A thorough pre-purchase inspection by a trusted mechanic is highly recommended to assess the vehicle’s condition and identify any potential maintenance issues. Understanding the warranty, if any, is also crucial.

Transparency is key when dealing with any auto dealership, and particularly with “buy here, pay here” businesses. Potential buyers should clarify all fees associated with the purchase and financing, including down payments, interest rates, late payment penalties, and any other charges. Understanding the total cost of the vehicle, including all interest and fees, is essential for making an informed decision.

Beyond the financing aspect, Shaffer Investment Auto Inc. likely operates similarly to other used car dealerships, handling the sales process, paperwork, and potentially offering basic services related to the vehicles they sell. However, their primary differentiator remains their willingness to work with customers who face credit challenges, providing an avenue to vehicle ownership that might otherwise be unavailable to them. As with any significant financial decision, potential buyers should weigh the pros and cons carefully and ensure the terms are suitable for their individual circumstances.