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.
You can find a list of car dealers offering Buy Here Pay Here financing at various websites. A good example would be BuyNPayHere. They have a list which is seperated by state and city.
There are many car dealerships that offer the service "buy here, pay here". Auto Trader is one of the most popular car dealers that use this type of service with their customers.
Rent to own auto dealers specialize in selling used cars to individuals with poor credit.So yes, it's on your credit.
Most dealers that will offer those deals are Buy Here Pay Here companies. You can try Marks Auto Sales located at 7800 W. Colfax ave.
They are a reseller and do not pay tax when they purchase a car.
As soon as a lender will let you borrow, or when you have the cash to pay for it. You will pay a higher interest rate, and you have to watch out for "finance here" dealers, who are not licensed as lenders and often change the paperwork by filling in blank spaces after you sign.
Offer to buy it.
Even though it is a buy here pay here dealer it is in the contract you signed. You dont pay they will take your car and you WILL have to pay the late payments on top of the repo cost before you get your car returned.
No
Go to your bank, negotiate an agreeable finance rate, pay off the buy here pay here. You will still have monthly payment but, usually at better rates without the hassle.
CarMax is a buy here, pay here lot that offers quality used cars. There are transaction fees associated with the purchase. Due to CarMax's connections with major dealers, they are able to hand pick the specific car a customer wants.
Opportunities to improve credit, trade-in flexibility and available cars and credit are some of the advantages of "Buy Here Pay Here (BHPH)" financing.