Save Money on Your Next Car Purchase
Better Alternatives to DriveTime
Discover smarter ways to buy a car and get insurance without the high costs of buy-here-pay-here dealerships. We'll show you how to save thousands.
Common DriveTime Concerns
While DriveTime serves customers with credit challenges, understanding these common issues can help you make a more informed decision.
High Interest Rates
DriveTime financing often comes with rates of 15-25% APR
Better Option: Shop for better financing options before car shopping
Limited Vehicle Selection
Restricted to DriveTime inventory, often older models
Better Option: Consider certified pre-owned from major dealers
Bundled Insurance Requirements
May require specific insurance coverage levels
Better Option: Get independent insurance quotes for better rates
Hidden Fees
Documentation fees, dealer fees, and add-ons increase costs
Better Option: Review all fees and negotiate or shop elsewhere
Better Ways to Buy a Car
These alternatives can save you thousands in interest and get you a better vehicle.
Credit Union Auto Loans
Lower interest rates and better terms for members
- Rates as low as 3-7% APR
- Flexible terms
- No prepayment penalties
- Personal service
Bank Pre-Approval
Get approved before shopping to know your budget
- Competitive rates
- Negotiate as cash buyer
- Shop any dealer
- Clear budget limits
Certified Pre-Owned
Major manufacturers offer CPO programs with warranties
- Manufacturer warranty
- Inspection certified
- Better financing
- Newer vehicles
Independent Dealers
Local dealers may offer better deals and flexibility
- Negotiable prices
- Various financing options
- Wider selection
- Local reputation
Smart Car Buying Process
Follow these steps to get a better deal than buy-here-pay-here options.
Check Your Credit
Know your credit score and fix errors before applying
Get Pre-Approved
Secure financing from banks or credit unions first
Get Insurance Quotes
Know insurance costs for vehicles you're considering
Set Your Budget
Include loan payment, insurance, gas, and maintenance
Shop Smart
Compare prices, negotiate, and avoid add-ons
Review Everything
Read all contracts carefully before signing
Smart Insurance Shopping
Don't let dealers bundle expensive insurance. Here's how to get better coverage for less.
Shop Insurance First
Get quotes before buying to avoid surprises
- Compare multiple carriers
- Check coverage requirements
- Factor into monthly budget
Avoid Dealer Insurance
Dealer-arranged insurance is often overpriced
- Get independent quotes
- Compare coverage levels
- Check for hidden fees
Consider Vehicle Insurance Costs
Some cars cost much more to insure than others
- Research insurance costs by model
- Avoid high-theft vehicles
- Check safety ratings
Bundle for Savings
Combine auto with other policies for discounts
- Multi-policy discounts
- Multi-vehicle savings
- Loyalty discounts
Ready to Save on Car Insurance?
Whether you're shopping at DriveTime or elsewhere, we'll help you find affordable insurance that meets lender requirements without breaking your budget.
DriveTime Alternative Questions
Why are DriveTime alternatives often better?
DriveTime specializes in subprime lending with high interest rates and limited vehicle selection. By improving your credit, getting pre-approved elsewhere, or exploring other dealer options, you can often get better rates, newer vehicles, and more favorable terms.
What if I have bad credit and need a car?
Consider credit unions that work with members on credit rebuilding, look for co-signer options, save for a larger down payment, or explore lease-to-own programs. Even waiting a few months to improve your credit can save thousands in interest.
How much can I save by avoiding buy-here-pay-here dealers?
The difference can be substantial. A $15,000 car at 20% APR costs about $8,400 in interest over 5 years, while the same loan at 7% APR costs only $2,700 in interest - a savings of $5,700.
Should I get insurance through the dealer?
No. Dealer-arranged insurance is typically more expensive. Always shop for insurance independently. Get quotes from multiple carriers and choose coverage that fits your needs and budget. We can help you find affordable coverage.