buy here pay here dealership

[Boxur227]

I'm looking to buy a new car with minimal credit.

Someone recommended me to purchase one through a "buy here pay here" dealership. It is my understanding that you don't need any credit to purchase a vehicle from similar organizations.

I just have a few questions before i decide to start going around these places looking for a new car.

Are their vehicles as well maintained as they are at branded dealerships and is it a complete scam? Meaning, i would assume with no credit at all they have the ability to make your bill from interest as much as possible and charge you more monthly than they originally claim.

I'm mostly concerned for the quality of the vehicles they sell.

 

[LoLSmurfin]

I would avoid those sorts of dealerships at all cost, honestly. Most of them look to goad you into buying a sub-par vehicle for a "too good to be true" price, then skyrocket your interest rates if you weren't careful when you bought it.

Better to buy a nice used car with a vehicle history report, either from a reputable dealer or carefully from an individual, for a better price with no strings attached.

 

[Boxur227]

Is there any way around this?

Do they not offer any contracts stating you will pay so much a month for so many months without forcing you to pay more?

 

I would avoid those sorts of dealerships at all cost, honestly. Most of them look to goad you into buying a sub-par vehicle for a "too good to be true" price, then skyrocket your interest rates if you weren't careful when you bought it.

Better to buy a nice used car with a vehicle history report, either from a reputable dealer or carefully from an individual, for a better price with no strings attached.

He's already said he doesn't have any credit to work with, hence him looking into this as an option.

Is there any way around this?

Do they not offer any contracts stating you will pay so much a month for so many months without forcing you to pay more?

Obviously the interest rates will be specified in the contact, just make sure that they're clear before you go and sign anything. Usually there isn't any interest for a period of time then you have to start paying.


As far as quality goes you can always ask for an outside mechanic to take a look at the vehicle(or atleast do a carfax or something similar). Also most normal dealerships come with some kind of warranty(even used ones) so you should probably ask about that as well.

 

[Boxur227]

He's already said he doesn't have any credit to work with, hence him looking into this as an option.




Obviously the interest rates will be specified in the contact, just make sure that they're clear before you go and sign anything. Usually there isn't any interest for a period of time then you have to start paying.


As far as quality goes you can always ask for an outside mechanic to take a look at the vehicle(or atleast do a carfax or something similar). Also most normal dealerships come with some kind of warranty(even used ones) so you should probably ask about that as well.

So essentially, they're safe and reliable?

I am just very skeptical of spending so much money at an organization that doesn't have as good of a reputation as a signature dealership.

I suppose if they do give you a set contract and aren't allowed to raise the price it wouldn't be that bad. The stories I've heard have all been about them bumping up the cost of interest by a lot and ripping the customers off.

 

[LoLSmurfin]

Do you have a decent amount of cash to pay down with? My parents always told me that I shouldn't buy a new car under any circumstance, and I should only buy what I can pay for on the spot unless it's completely necessary. So far, that advice has been golden.

If your legalese isn't very good and you happen to find one of the sketchier dealerships, they may try to pull a fast one on you in some fine print. I've heard a few horror stories about it happening to people. But I suppose as long as you check everything out and get a VHR, you should be okay.

 

[Boxur227]

Do you have a decent amount of cash to pay down with? My parents always told me that I shouldn't buy a new car under any circumstance, and I should only buy what I can pay for on the spot unless it's completely necessary. So far, that advice has been golden.

If your legalese isn't very good and you happen to find one of the sketchier dealerships, they may try to pull a fast one on you in some fine print. I've heard a few horror stories about it happening to people. But I suppose as long as you check everything out and get a VHR, you should be okay.

I have a separate bank account i have been using for savings towards a new car, currently a little over $10,600 in it. I would rather use credit (if i had any) to purchase a car and make payments, however, i have not yet established credit.

 

[paypalwiz]

I have a separate bank account i have been using for savings towards a new car, currently a little over $10,600 in it. I would rather use credit (if i had any) to purchase a car and make payments, however, i have not yet established credit.

Make sure to check the dealerships reviews before using

 

So essentially, they're safe and reliable?

I am just very skeptical of spending so much money at an organization that doesn't have as good of a reputation as a signature dealership.

I suppose if they do give you a set contract and aren't allowed to raise the price it wouldn't be that bad. The stories I've heard have all been about them bumping up the cost of interest by a lot and ripping the customers off.

I wouldn't go as far as to say they are "safe and reliable" considering I've never used one myself. I'm saying make sure you make sure that the contract has a fixed rate.

 

[Boxur227]

Make sure to check the dealerships reviews before using

The three i found that has the model of vehicle I'm looking for has no reviews nor ratings at all.