Are Buy here Pay Here Places the same as Places that finance?

Question

Buying a car from a place that say they finance is a buy here pay here place right are is it more to it? And are those place intrest rates high?

Answer 1

The only reason to use a Buy Here Pay Here dealer is if you can't get legitimate financing anywhere else.

They will over charge you for the car and overcharge you for the interest on the loan and if you are 1 day late you will get the car repossessed.

Answer 2

I would avoid a Buy Here, Pay Here, the interest is going to be very high and they will repo your car ASAP if you fail to pay.

Save money or get a loan for a credit union.

Answer 3

No you may no longer take it decrease back. You signed a settlement and now your caught with it. do no longer shop on with the advice that they do no longer checklist on your credit. they do exactly no longer checklist helpful action on your credit. you will properly be helpful they're going to make helpful to point you defaulted on your automobile loan and that they had to repo. in case you're taking it decrease back to them it is going to teach as a repo on your credit for the subsequent 7 years and you isn't waiting to finance a 2 litre of coke till 2016. i'm sorry whether evidently such as you have purely discovered a tough lesson on the college of difficult knocks. credit are high priced there and that i do no longer think of they're going to be college transferable. The "cooling off era" in trouble-free terms applies to traveling salesmen that come on your place of organisation or domicile to end a transaction and does not shop on with to automobile (or hardly the different) sale or settlement.

Answer 4

I've never been in a position where I had to use such a dealer, but I know three people who have and all three report favorable results. Talk to the dealer, read the "fine print", and make your payments on time they all told me. One of the three did walk away from two dealers before they settled on the third one