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If you have credit dilemmas, you might be considering "buy here pay here" as a solution. Even though it may be tempting, you might find that upon learning a few facts, that this type of establishment does not fit in just a positive financial outlook. This informative article will explain a few tips to consider when looking at the prospect of using dealerships that finance their particular cars.

Buy here pay this is a form of auto financing which involves the dealer holding the title to the vehicle until it is paid for. Payment arrangements are made between you and the dealer, and if you default, the car is quickly repossessed. Generally, you can find no credit checks involved and it's easy to get buy here, pay here financing with a down payment.

Hold it there, cowboy.

Down payments are always required at buy here pay here charlotte these types of car lots. Autos sold at buy here pay here lots are typically cars that can not be sold by normal dealerships. They've been purchased at car auctions low priced, and frequently the total amount requested for a down payment equals a good portion of what the dealer covered the car. What you pay in car payments and interest, is primarily profit.