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Auto financing - How to find buy here, pay here car lots

Learn how to spot a buy here pay here car lot.
Learn how to spot a buy here pay here car lot.
Photo provided by Moto... via Flickr.

Have you been searching for a buy here pay here (BHPH) dealership in your town? Are you looking for some clues to help you spot one? If so, here are some tips to help you find a BHPH auto lot.

No credit approval

As you drive down your main streets and see car lots, look for signs that say "No Credit Approval." This is a good indicator of a BHPH dealership. Why, because BHPH dealership are very friendly to people with poor credit.

No down payment

In order to get you into their automobile sells lot, BHPH dealers will post huge "No Down Payment" signs next out front of their business. They want you to understand that their mission is to get you a car and that their approval process is much easier.

Monthly payment advertised

BHPH dealers understand that you want a nice ride. They also understand that you want to know how much that nice car will cost you. Therefore, they will post the projected monthly payment for prospective automobiles on the cars' windows for you to see while driving by.

Various cars

BHPH auto sells lots do not specialize in specific cars like mainstream commercial auto dealerships. Therefore, if you pass by a car lot and see multiple different styles of cars for sale, it is probably a BHPH dealership.

Used cars

If you pass by an auto dealer with a lot of used or older cars, it is more than likely a BHPH auto lot. BHPH sales lots do not specialize in new cars. They sell more used cars as they understand their customers may not have as much money.

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