Are Buy Here Pay Here Car Lots Good Today

While "buy here, pay here" (BHPH) lots provide a quick path to a vehicle for those with poor or no credit, they are often considered a due to high interest rates, inflated prices, and strict repossession policies .

Some traditional dealerships work with lenders who specialize in bad credit but offer better rates than BHPH lots. are buy here pay here car lots good

Buying a cheap, reliable car with cash from a private owner avoids the high interest and fees of a loan. While "buy here, pay here" (BHPH) lots provide

The price was $7,999— double the market value —financed at a 25.99% interest rate . They also had to pay a $1,000 down payment. The price was $7,999— double the market value

Here is a story illustrating the typical experience at a BHPH lot: The Story of the "Quick Approval"

Most BHPH lots do not report on-time payments to credit bureaus, meaning you can't use the loan to rebuild your credit. Better Alternatives to Consider Before going to a BHPH lot, consider these options: