It’s clear that you are looking for a new vehicle, but need guidance on where to look. While it is possible to go to a traditional dealership to apply for a loan, let’s face the facts – not everyone has the time or the patience. You can shop at a buy here-pay here dealership where the process is simple and the cars are easy on the eye. But, before you go browsing the lot let’s discuss with buy here-pay here one important factor: helpful hints.
First, let’s dispel a common myth about BHPH. The dealership may be a buy-here-pay-here, but that doesn’t necessarily mean the cars will come at a bargain price. The prices for these cars can be just as varied as those at traditional dealerships. So what is the difference?
A traditional dealership sets the car’s price based upon the vehicle’s make, year, model, and condition. A buy here-pay here dealership sets the price for the car based on the vehicle’s make, model, year, and condition. This means that the price of the car might be higher because it includes financing.
What does that all mean? You need to know your budget and how much you are willing to spend before you go shopping. Also, remember to consider the cost of financing when comparing prices.
Let’s discuss the fearsome down payment. A traditional dealership will allow you to pay only a small down payment. At a buy here-pay here dealership, a down payment may be required. It can vary in amount, but typically it’s between 10-20% to cover the entire cost of the car.