What Cherry Auto Group Is
Cherry Auto Group is a used-car dealership chain with locations across multiple states. They buy, recondition, and sell used vehicles to individual buyers, typically financing the purchases through their own lending program. Unlike a manufacturer or a national franchise with a single brand, Cherry operates as an independent dealer network where each location stocks a rotating inventory of vehicles from various makes and model years.
The company's core business model centers on in-house financing — they lend directly to buyers rather than referring them to banks or credit unions. This means the same dealership that sells you the car also holds the loan, which affects how the purchase process works and what happens if you miss a payment or want to refinance later.
Key Takeaways
- Cherry Auto Group finances its own car sales, so the dealership is both the seller and your lender.
- You can visit a physical location to see and test-drive vehicles, and the dealership handles paperwork and title transfer on-site.
- Loan terms, interest rates, and down payment requirements vary by location and your credit history, so you should ask about these specifics before committing.
- If you fall behind on payments, you are dealing directly with the dealership that sold you the car, not a separate bank.
- Your purchase includes a vehicle inspection report and typically a short-term warranty, though coverage details differ by location and vehicle age.
How the Purchase and Financing Process Works
When you visit a Cherry Auto Group location, you browse the lot, select a vehicle, and can request a test drive. The dealership will pull a vehicle history report (usually a Carfax or AutoCheck) and show you the inspection results. Once you decide to buy, the sales staff will discuss financing terms with you — down payment amount, loan length, interest rate, and monthly payment.
Because Cherry finances the loan in-house, the approval process is faster than explore to a bank. The dealership can often give you an answer the same day. You will sign a promissory note (the loan agreement), a security agreement (giving the dealership a lien on the car), and a bill of sale. The dealership handles the title transfer and registration paperwork, though you may need to provide proof of insurance before driving off the lot.
The entire transaction typically takes a few hours. You leave with the car, the keys, and documentation showing you own the vehicle (once the title is processed, which can take one to three weeks depending on your state).
What Happens If You Miss a Payment
Because the dealership holds your loan, they are the ones who contact you if a payment is late. Most dealerships will call or send a notice before taking action. If you miss one payment, you will likely face a late fee and a call from the dealership asking you to catch up.
If you fall significantly behind — typically 60 to 90 days, depending on the loan agreement — the dealership can repossess the vehicle. This means they send someone to take the car back without your permission. Once repossessed, the car is sold at auction, and you are responsible for any difference between what it sells for and what you still owe (called a deficiency). You will also owe repossession and auction fees.
If you are struggling with payments, contact the dealership directly as soon as possible. Some locations will work with you on a payment plan or loan modification, but this is not may provide and depends on the dealership's policies.
Warranty Coverage and Vehicle Condition
Cherry Auto Group vehicles come with an inspection report showing the condition of the car at the time of sale. Most locations offer a short-term warranty — commonly 30 to 90 days — that covers certain mechanical failures. The exact coverage (what parts are included, what is excluded, how long it lasts) varies by dealership location and the age and mileage of the vehicle.
Before you buy, ask the dealership for a written copy of the warranty terms. Find out what is covered, what is not, and how to file a claim if something breaks. Some dealerships cover engine and transmission; others cover only specific components. Some warranties are "as-is" with no coverage at all, so you need to know what you are getting.
Used cars sold as-is (without warranty) are sold in their current condition, and the dealership has no obligation to fix problems that show up after you drive away. Always read the paperwork carefully before signing.
Refinancing or Paying Off Your Loan Early
If you want to refinance your Cherry Auto Group loan with a bank or credit union, you can do so at any time. You will need to contact the dealership to find out your current loan balance and payoff amount. Once you have that number, you can explore for a loan from another lender and use the money to pay off the Cherry loan in full.
Paying off early typically does not trigger a penalty, but check your loan agreement to be sure. Some dealerships do charge a prepayment fee, though this is less common. Once the Cherry loan is paid off, the dealership will release the lien on the title, and you will own the car free and clear.
Refinancing can lower your monthly payment or shorten the loan term if you may have access to for a better interest rate elsewhere. This is worth exploring if your credit has improved since you bought the car, or if interest rates have dropped.
Common Issues and How to Avoid Them
One frequent problem is discovering mechanical issues shortly after purchase that are not covered by the warranty. To reduce this risk, have an independent mechanic inspect the vehicle before you buy — not the dealership's mechanic, but someone you trust. This costs $100 to $200 but can save you thousands if the car has hidden problems.
Another issue is confusion about what is included in the loan. Some buyers are surprised to learn that gap insurance, extended warranties, or service plans were added to their loan without their full understanding. Before you sign, ask the dealership to itemize everything included in the loan amount and make sure you understand what you are paying for.
A third common problem is title delays. If the dealership is slow processing the title transfer, you may not receive your official ownership documents for weeks. Ask when you can expect the title in hand and follow up if it does not arrive on schedule.
Comparing Cherry Auto Group to Other Options
Cherry Auto Group is one option among many for buying a used car. You can also buy from a franchised dealership (like a Ford or Honda dealer selling used vehicles), an independent used-car lot, a private seller, or an online marketplace like Carvana or Vroom.
Franchised dealerships often have more rigorous inspection standards and longer warranties, but typically charge higher prices. Private sellers offer lower prices but no warranty and no financing. Online marketplaces offer convenience and a wide selection but require you to arrange your own financing and handle title transfer yourself.
Cherry Auto Group sits in the middle: they offer in-house financing (which is fast and convenient), a physical location where you can see the car before buying, and a short-term warranty. The trade-off is that their interest rates may be higher than a bank would offer, and their warranty is shorter than a franchised dealer's.
Frequently Asked Questions
Do I need a down payment to buy from Cherry Auto Group?
Most Cherry locations require a down payment, though the amount varies. Some dealerships will work with buyers who have little or no money down, but this typically means a higher interest rate and a longer loan term. Ask your local dealership what down payment options they offer.
What credit score do I need to get financed?
Cherry Auto Group works with buyers across a range of credit histories, including those with poor or no credit. However, a lower credit score usually means a higher interest rate. The dealership will tell you the rate they can offer based on your credit report.
Can I return the car if I change my mind?
Most used-car dealerships, including Cherry, do not offer a return period once you have signed the paperwork and driven the car away. The sale is final. Some locations may allow a brief inspection period (24 to 72 hours) if the vehicle has a serious defect, but this is not standard. Check your local dealership's return policy before you buy.
What if the car breaks down after the warranty expires?
Once the warranty ends, all repairs are your responsibility. This is why having an independent mechanic inspect the car before you buy is important — it helps you understand what repairs might be coming. You can also purchase an extended warranty from the dealership at the time of sale, though this costs extra and should be reviewed carefully.
How do I contact Cherry Auto Group if I have a problem with my loan or vehicle?
Contact the specific dealership location where you bought the car. You can find their phone number and address on your loan paperwork or by searching online for the nearest Cherry Auto Group location. If you have a complaint that the dealership does not resolve, you can file a complaint with your state's attorney general or the Consumer Financial Protection Bureau.