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Rent to own auto dealers specialize in selling used cars to individuals with poor credit.So yes, it's on your credit.
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∙ 12y ago
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What type of business is Buy Here Pay Here?
The term "Buy Here Pay Here" pertains to a particular method of running a car dealership. With this method the dealership provides the credit for the purchaser. The "Buy Here Pay Here" is geared for those with poor credit history and usually requires a high interest rate for payments.
How will taking a car back to buy here pay here affect credit when they do not report anyway?
If they don't report, then you don't have to worry about it affecting your credit.
What are credit purchases?
credit purchases are goods that you buy on credit and and pay little by little to pay to the person you owen.
What is the minimum credit score for getting a car loan?
It depends entirely on where you try to buy the car. You can get a car at a buy here/pay here kind of place with almost no credit. However, the finance charges and penalties for late paymetns are very stiff. You can get a car from a major dealer with a credit score of around 700.
How can you buy a house with no credit?
Pay cash.
What are the advantages of buy here pay here financing?
Opportunities to improve credit, trade-in flexibility and available cars and credit are some of the advantages of "Buy Here Pay Here (BHPH)" financing.
What type of business is Buy Here Pay Here?
The term "Buy Here Pay Here" pertains to a particular method of running a car dealership. With this method the dealership provides the credit for the purchaser. The "Buy Here Pay Here" is geared for those with poor credit history and usually requires a high interest rate for payments.
If your car is repossessed by a 'buy here pay here' dealer does it affect your credit?
Only if the dealer reports it to the credit bureaus.
i need to find a buy here pay here car lot?
So long as you have a job, buy here, pay here is a lousy deal. Even with the very worst credit, you can find a variety of internet lenders with a better deal than you will get from buy here, pay here. Check bankrate.com (with your credit information) for a list. Even with awful credit, you can typically get a rate of around 15-20 percent for a car.
How will taking a car back to buy here pay here affect credit when they do not report anyway?
If they don't report, then you don't have to worry about it affecting your credit.
How does a buy here pay here car dealership finance their cars to the public?
They pretty much let you buy the car on credit through them.
What is the purpose of buy here pay here dealers?
The purpose of Buy Here Pay Here by auto dealerships is to allow people who have poor credit history to still purchase a vehicle from the dealer. The interest rate tends to be higher though.
How can one obtain car financing if they have bad credit?
To obtain car financing with bad credit can be done by purchasing from a car lot that advertizes " buy here pay here". You will find that with bad credit you will pay a higher interest rate than if you had good credit.
What do you do if you have no credit at all and want to build a credit?
go to a buy here pay here car lot or a rent to own and make a purchase make the payments on time and ask them to notify the credit agencies of the established credit.
What if I can't find a cosigner for a car?
go to a buy here pay here place. i couldn't find a cosigner, so i went to a buy here pay here place that says "we don't care about credit" or, if its your first time buying a car from a company, some dealerships do the first time buyer credit approval. it all depends.
Buying a car from a buy here pay here dealership can they garnish your wages or send it to the credit bureau?
If they get a judgment they (or anyone they sell your debt too) can garnish yourwages and yes they will report it to a credit bureau.Try too buy a used car and pay for it outright you will save alot of money.
What score can you have to buy a new car?
It depends on the dealer you are buying from. Some 'buy here, pay here' lots only require that you have a job with minimum income, no credit required.
