Buy Here Pay Here is a term used buy Used Car lots that offer in house financing. This is for people that have less than perfect credit and cannot get traditional financing through a bank. Buy Here Pay Here means that the lot owner takes your payments monthly at their location.
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First off, make sure you keep in contact with your dealer. If you are unable to make your payment on time, some buy here pay here dealers can work with you on extending payment. However, some will not and they will come repo your car and keep your down payment that you used originally.
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As far as the down payment, deferred down payments (30 days) have to be disclosed on the finance contract to comply with the Truth in Lending Act. If it is not, it is considered an attempt to deceive the lender. Most lenders do not allow deferred down payments. We can help you find one by pairing you up with one's that do by filling out our form to the right!
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That answer we cannot give you....YET...However, we can give you a long list of people and companies that do Buy Here Pay Here in Orlando that are a scam and will rip you off.
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The Buy Here Pay Here business is a cesspool and most dealers are scumbags who are just waiting for you to miss a payment by a day, so they can come repo your car and keep your deposit and resell that car. Buy Here Pay Here dealers also have a lot of risk because I have heard stories of robberies and windows broken because the buy here pay here dealer did come repo the car right away. We are trying to change the business because of the current economy. We are all broke and we all have bad credit and 5% of Americans hold 95% of the money in this Country. We shouldn't be robbing Peter to pay Paul when we are all in the same boat. At BuyHerePayHereOrlando.net we are here to help you and your situation and hopefully get you paired up with a reputable Buy Here Pay Here Dealer!
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