Neighbor News
DriveTime Automotive Drives into West Covina
Nation's Largest Used Car Dealer and Lender Brings Unique Approach for Credit-Challenged Car Buyers Opens Fifth Los Angeles Location
DriveTime, the nation’s largest used car dealer and financing company helping people with credit issues find and finance vehicles, opened its fifth Los Angeles, CA location on March 6, 2015 at 1900 E Garvey Ave S. Recognizing a need in the community, DriveTime is bringing a unique approach to used car buying, leasing and financing to the West Covina community. Roughly 56% of people in the United States have a credit score that classifies as subprime. DriveTime estimates that 35% of West Covina residents aged 18-49 can be considered subprime. This makes buying or leasing a car more difficult, and in some cases, impossible. In addition to sales and financing options, DriveTime offers the Cancel Anytime Lease which allows vehicle return without penalties or negative marks on your credit report should personal financial problems arise, or if you simply want a different vehicle.
The new dealership is the used car company’s fifth location in California. The company has also established an inspection center where incoming vehicles are rigorously tested prior to being placed on the DriveTime lot with an eye towards both safety and reliability.
DriveTime’s salaried and college educated sales advisors match customers with the vehicle and financing option that best fits their individual situation and will be a welcome addition to the community.
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Fifty-six percent of people in the United States have a subprime credit score, while 35% have non-mortgage debt in collection. Meanwhile, $27 billion of the $55 billion spent in the automotive finance space comes from the lowest ranges of the market. As of December 2014, the unemployment rate in Los Angeles is 8.3 percent.
When people face credit issues, access to necessities as simple as transportation becomes a challenge. It doesn’t have to be. DriveTime is not your father’s used car dealer. The company provides used cars and financing to everyone, including those with bad or no credit in a pleasant, respectful and transparent environment.