What Is The Cost Of Buy Here, Pay Here Automobiles?

They are often sought after by people with bad credit histories or those who do not have any credit. BHPH car dealerships offer flexible finance requirements. Buy here pay here West Virginia cars can come at a high price and with less favorable terms, continue reading.

The price of a BHPH vehicle can differ significantly depending on its make, model, and dealership. BHPH cars are priced between $10,000 and $20,000. Some may cost more or less depending on age, features, condition and other factors.

BHPH car dealerships require a small down payment in addition to costing the car. It can be anywhere from a few hundreds to several thousand dollars, depending upon the dealership and price of car.

BHPH dealerships offer financing in-house with rates higher than the traditional lenders. This is due to the fact that BHPH dealerships take more risks by lending money to people who have bad credit. In order to compensate for this, the interest rate charged on a BHPH loan may be up to 20%.

It is also important to be aware that BHPHs may have additional charges such as documentation, processing, or other fees. These additional fees may add up to several hundred dollars.

BHPHs are a viable option for people who do not qualify for traditional loans because of poor credit. Before committing to a BHPH vehicle purchase, you should carefully review the cost of the entire car. This includes the overall price, any financing fees and the additional costs.

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