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What does Buy Here Pay Here mean? Despite being the fastest growing segment in the auto sales industry, there's not an official definition for Buy Here Pay Here in the dictionary. High Interest Rates Even though you have bad or no credit, you should still be able to get a decent interest rate. In addition to being a way to get a new car, financing the purchase through a poor credit car loan can help repair your own credit history in the process. 2. Nowadays car dealers are also coming forward with new packages with flexible terms. A savings account can even be used as collateral for the secured credit card. Remember that, as the interest rates are higher than a normal loan, the corresponding monthly payments will be higher also, so aim for a model of car that you can make the payments on with relative ease. You will get a chance to go through quotes from different lenders and select the most suitable for you. 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. If your credit.
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