This type of dealership offers buy here-pay here financing in order to assist those customers who are not eligible for a traditional bank loan or credit card. This model's mainstays include used vehicle sales and on-site financing to help customers with poor credit. They pay the dealer directly, without using a third-party loaner, read here?
The buy here-pay-here dealerships may provide an opportunity for people who have no or little credit. In-house financing is often more flexible for car dealers who are willing to work with consumers that have less-than perfect credit. People in financial difficulty can take advantage of this to improve their credit rating and start a new life.
The purchase here-pay here model has several disadvantages. They often have older vehicles that are not in the best condition. Their prices are also higher than on more traditional lots. Buy here pay here interest rates can sometimes be very high. That could increase the overall price.
You should always research the car's history before buying it. It is important to research the past of a vehicle before purchasing it. Carfax will give you a report that includes the entire history of your vehicle.