A guide to the costs of cars bought here-pay-here

You are in the market to buy a new car, but it is difficult to know where to begin. Although you can go to a dealership to get a loan, it’s not practical. Buy here pay here is a great option. The process is easy and the cars are very easy to see. Before you go to the lot, let’s talk about the cost of these cars with buy-here-pay-here? more help!

Let’s start by clearing up a common misconception regarding BHPH. It doesn’t mean that cars at a dealership are cheap because they are buy here-pay here. Prices for these cars are just as variable as traditional dealerships. So, what is the difference between these cars?

At a traditional dealership, the dealer sets the price for the car based on the car’s make, condition, year, and model. At a buy here, pay here dealership, the dealer and the cost to finance the car determine the price. In other words, the financing cost may make the car more expensive.

What does all this mean? It means that you should have an idea of your budget, and the amount you are willing or able to spend before you shop. Don’t forget to compare prices and the cost for financing.

Let’s address the elephant in this room: the feared down payment. Traditional dealerships allow you to put down small amounts or even nothing. A buy here, pay here dealership will often require a downpayment. This amount may vary but is typically between 10-20% on the total cost.

Leave a Reply

Your email address will not be published. Required fields are marked *