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If you are aiming to purchase a car that is just within your budget, you may end up defaulting should another regular expense suddenly increase or unforeseen circumstances require a substantial one-off expense. Buy Here Pay Here (BHPH) financing means that you arrange a loan and make payments on it at the dealership. In many cases, BHPH dealerships aren't just an option—they may be the only option when someone has been turned down by traditional loan institutions. High Interest Rates Even though you have bad or no credit, you should still be able to get a decent interest rate. Who should go to a BHPH dealership? BHPH dealerships are primarily designed for shoppers who may have experienced significant financial bumps and bruises. Make sure you ask the dealership if reporting is a policy they follow. After you've seen a few models, asked a host of car questions and possibly test driven one, the dealer will help you explore payment options. You therefore "buy" the car at the dealership and "pay" on the loan at the dealership. It is important to keep credit limits low at first with the card though so that you.
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