When purchasing a buy here pay
here car is it necessary to have a down payment?
Approved for Your BHPH loan before You Walk into the Car Dealership
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
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.
For Your Buy Here Pay Here Car Loan
BHPH Car Lots By State