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Whether you’re looking to buy a new or used vehicle, you might want to consider a Buy Here Pay Here (BHPH) dealership. This type of car dealership is designed to help people with bad credit get approved for car loans.

How much can I get approved for a loan with no credit?

Buy here pay here car dealers near me may require a large down payment or high interest rates, so you’ll need to check your credit before you apply for a loan. You also might be limited by your choice of cars.

The process of applying for a car loan at a buy here pay here dealership is fairly straightforward. The dealership will verify your income and residence before approving you for a loan. However, not all dealers report your payment history to credit bureaus. You may need to pay weekly or bi-weekly payments, which can be inconvenient compared to monthly payments.

BHPH dealers may also try to sell you GAP insurance or a warranty as a condition of the loan. If you default on payments, the dealership may repossess your vehicle. They can also resell the car to another buyer. This isn’t a good option if you want to keep your car.

Buy Here Pay Here car dealers may also require you to make a high down payment. This may be more than you’re willing to pay. In addition, you may have to make payments in person.

You may be able to get a loan with a lower interest rate at a traditional dealership. The dealership will use a third-party lender to extend credit to you. This may be your only option if you have bad credit.


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September 2023