At BuyHereNPayHere.com, we allow you exclusive access to one of the most comprehensive networks of local dealerships who offer buy here pay here financing. All you have to do is submit a 3-minute credit application, and we will most likely be able to find you a local dealer who wants to put you in the drivers seat today. Approval rate is greater than 90% for distribution to our dealer network. Click Here to Apply.
What to Expect at Your Buy Here Pay Here Car Lot
Buy Here Pay Here car dealerships are not too different from a normal dealership. On the outside, it might look the same. Or it might be a normal franchise dealership that also offers in-house financing. In any case, the main difference you can expect is making the terms of your financing package the #1 priority. After all, getting approved for financing is often the most difficult part of the car buying process, especially if you have bad credit, no credit, or bankruptcy in your history.
Used Vehicle Inventory
Most buy here pay here auto sales are for pre-owned vehicles. Although you may be tempted by the hottest new models on the market, you should know that a brand new car depreciates 20-25% the second you drive it off the lot. That means you might agree to pay $20,000 for a car that’s instantly worth only $15,000, and that’s the makings of a financial trap. Too many Americans are currently “upside down” on their vehicles like this.
A used vehicle, on the other hand, has already endured this initial hit in value. It’s more affordable, less expensive to insure, and with a Carfax report you can ensure it’s proven reliable to past owners.
Trade-ins & Down Payments
On the whole, buy here pay here car lots are more flexible than traditional dealerships when it comes to trading in your used vehicle, especially if it’s an older model. Too many franchise dealers only accept models a few years old. If you have an older vehicle, you may be able to get more trade equity at a BHPH car lot, putting the trade-in’s value toward your new purchase as a form of down payment.