Real-Life Experience with Buy Here Pay Here Financing

I’m Jane. She is a single mother, and she relies on her car to travel to work and drop her kids off at school. Unfortunately, she is unable to get regular auto financing due to her poor credit score. If you are looking for buy here/pay now car lots, we can help – click here.

Jane decides it is a good idea to visit a nearby BHPH showroom to inquire about their assistance in getting her into a vehicle. She selects a car she loves from a second-hand dealership and agrees on the financing terms. Jane recognizes this as the best way to get her car, despite having to pay a significant down payment and high-interest rates.

Jane leaves the lot with her new car after a pleasant visit at the dealership. She is delighted to have the ability to transport herself again.

The first few months are easy. Jane is responsible with her monthly payments and appreciates the freedom that a vehicle gives to her. Unfortunately, she soon finds it hard to make her payments due to unexpected expenses, including the medical bills for her child.

The dealership shows compassion and is willing to work with her to solve the problem. They propose to temporarily reduce Jane’s monthly payments and to extend the term of her financing arrangement. Jane’s payments become more difficult over time and the dealership is in need of patience.

Finally, the dealer dispatches a repo man to retrieve it. Jane is in deep despair. Jane has spent a lot on the car but it isn’t there anymore. Again, without a means for transportation, she struggles to make ends met.

Jane’s story, although fictional, is not unheard of. Unfortunately, many consumers resort to BHPH loans as a last alternative, and only then can they afford to make the payments. If this happens, they risk having their property taken away. While some people might find BHPH financing a great alternative, it’s important that you fully understand the risks of the process and be aware of your financial status before agreeing to the terms.

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