In your search for an auto loan, you may have considered a Buy Here Pay Here dealership; an auto dealer that essentially acts as a bank by offering loans in-house to buyers with bad credit. These buy here pay here dealers can offer an alternative to the traditional route of securing an auto loan, but they can also be trouble if you don't know what you're getting into.
Protect yourself from a Buy Here Pay Here dealership scam by conducting thorough research on the vehicle you're considering by using a non-biased comparison site such as Kelley Blue Book, Edmunds or J.D. Power. Choose a buy here pay here dealer that is accredited by the Better Business Bureau and has strong customer testimonials to get you on the right track and on the road with a high-quality car.
Still, getting approved means you can finally purchase that car you’ve had your eye on and keep the vehicle as long as you make payments on time. Another benefit of purchasing from a Buy Here Pay Here dealer is they may be willing to take in your older car as a down payment for the purchase. Your Buy Here Pay Here financing options could be that much more affordable with a trade-in allowance.