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When purchasing a buy here pay here car is it necessary to have a down payment?Tell a Friend

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When purchasing a buy here pay here car is it necessary to have a down payment?

It isn't always necessary to have a down payment but that depends on what type of customer you are. For example, if you purchased multiple vehicles from the dealer in the past and have shown the dealership your good record of payment then the dealer may forgo the down payment. On the other hand, if your a new BHPH customer with no credit history with the dealership then you will need a down payment with your purchase.

How much of a down payment do I need?

The down payment depends on a lot of things. What type of vehicle your looking at and your payment history with that BHPH dealership. If your looking at a "newer" used car then you should have a larger down payment. I would also like to add if you've shown your a prompt payer and your looking at a "newer" used car then the dealership will usually forgo the down payment or will want a smaller down payment that's associated with the car.

What if I'm looking at a slightly older used car?

If your looking at a slightly older used car then the dealership will usually want a smaller down payment. The dealership will still require a new customer to have some form of payment commitment to the automobile. They usually aren't going to let you walk of the dealership with no down payment. As I've mentioned above, that type of service is usually given to the best BHPH customers.

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