Based on what the dealer decides you can afford, they will show you a limited selection of vehicles you are allowed to purchase.
While average used car rates hover in the single or low double digits, BHPH interest rates routinely soar to 20% to 29% , or the legal maximum in your state. buy here pay here used car lots
The dealership lends you its own money to buy a car from its own inventory. Because the dealer takes on 100% of the risk, the buying process is flipped upside down: Based on what the dealer decides you can
Instead of falling in love with a car on the lot, a BHPH dealer will evaluate your income and residency first. Because the dealer takes on 100% of the
Perfect for young buyers, immigrants, or those recovering from bankruptcy who cannot get approved anywhere else. 🔴 The Cons
You can typically secure financing, pick a car, and drive off the lot on the same day.
🚗 Decoding Buy Here, Pay Here (BHPH) Used Car Lots .