What is Buy Here Pay Here?

Buy Here Pay Here means that you arrange a loan and make payments on it at the dealership. You purchase the car through what's referred to as in-house financing versus through a third party, such as a bank or credit union.

Instead of making monthly payments to a bank such as Chase Auto Finance, you make weekly or bi-weekly payments at and to the dealership. Although some Buy Here Pay Here dealerships will accept payment by phone or online, some still require that you physically bring a check or cash to their location. You therefore "buy" the car at the dealership and "pay" on the loan at the dealership. Hence Buy Here Pay Here......

Buy Here Pay Here dealerships are primarily designed for people who may have experienced significant financial bumps and bruises. If your credit score is on the lower end of the scale or if you've had trouble getting an auto loan, a Buy Here Pay Here dealership should be one of the places you visit during a car search.

What are the benefits of Buy Here Pay Here financing?
1. Available cars, available credit
The most important benefit of Buy Here Pay Here financing is that it gives credit-challenged people the opportunity to get much-needed transportation. In many cases, Buy Here Pay Here dealerships aren't just an option — they may be the only option when someone has been turned down by traditional loan institutions.