Buy Here Pay Here Car Lots – The Bad Credit Car Buying Solution!

Buy Here Pay Here car lots are second chance financing solutions for bad credit car buying consumers. If your past or present credit situation is making it impossible for you to get approved for an auto loan, then a Buy Here Pay Here may be an excellent option to get you a new ride fast!

Let’s take a closer look and see what they are, what to expect when buying and financing a car with one and how to find them.

What Are Buy Here Pay Here Car Lots?

A Buy Here Pay Here is a dealership that not only sells cars, but handles your financing in house. In other words, the dealership is the bank. Buy your car here and make your payments here. These types of dealerships specialize in helping consumers with credit challenges that may be holding them back from getting approved with traditional bank financing.

Many of these dealerships practically guarantee your approval and are not so much interested in your past credit or credit score, but are very interested in your ability to make the monthly payments. A decent down payment and steady income, typically leads to an easy approval.

What to Expect When Buying a Car

When you buy a car from a Buy Here Pay Here car lot, it is important to keep in mind that the types of loans these dealerships make are considered high risk. These loans are considered second chance loans and are not loans that most traditional banks will approve; therefore, you will usually find that these dealerships will charge a high rate of interest, finance for short terms (24 months or less), will sell cars for more than they are worth and look for a decent down payment upfront.

To get approved with a Buy Here Pay Here car lot, they will usually request that a customer provide:

*Proof of Income (pay stub, bank statements, W2)

*Proof of Residence (current utility bill)

*Proof of Full Coverage Insurance

*5-10 References (family and friends)

*Valid Drivers License

*Down Payment (roughly $800 minimum)

That small list is usually all it takes and you are approved.

Most Buy Here Pay Here car lots sell vehicles that are 5-10 years old and have a bit higher mileage, 80,000 to 130,000 miles is common, but not always the case.

Where to Find Them

Buy Here Pay Here car lots are fairly easy to find, whether on the Internet, in your local paper or just driving/walking down the street. They will advertise with sayings like:

*Buy Here Pay Here

*We Finance

*In House Financing

*Note Lot

*We Tote the Note

Justin has over a decades worth of experience arranging auto loans for customers with bad credit and is the creator of He has created one of the largest Directories of Bad Credit Car Dealerships online where you can search for Buy Here Pay Here Dealerships.