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Smart Shopper Buy Here, Pay Here
328 messages, Last post on Jul 19, 2009 at 7:42 PM
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Replying to: drake7171 (May 05, 2009 7:20 am) BHPH lots have clunkers with prices of 5-8k on cars which are actually 1-2k. And interest rates--well--24-26% U again,,are the minority here.The majority BHPH lots prey on poor credit. And their cars are in such a pathetic condition. It``s like---Beggars cant be choosy---Folks with poor credit have no option.Thats why they come to BHPH lots and are fleeced... |
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Replying to: drake7171 (May 05, 2009 7:20 am) Well, not really. Price is always a key factor in whatever a consumer buys. There is always a small chance a dealership, jewlery store, furniture store will go belly up. Sure, look at stability, reputation and service... but none of that means anything if you don't have enough customers because you are charging too much.
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Replying to: jipster (May 05, 2009 1:20 pm) We wholesale a lot of cars to guys who operate small lots. Most of these guys have been in business for a long time. The cars they buy from us usually aren't "bad" cars. Just cars we don't want. I took in a nice looking and nice running 1996 Taurus Wagon a couple of weeks ago. I think it had around 100,000 miles. It's not the type of car we sell but I'll bet it'll make a nice transportation car for someone without a lot of money. BHPH lots vary in quality and ethics. For some people they are the only place they can buy anything. |
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Usually "your job is your credit". But I work for myself so I have no pay stubs from an employer. How much of a down payment do BHPH dealers need to finance me? 25% of the price? 50%? I am looking for a truck in the $3,000 - $4500 range and I have $1000 to put as a down payment. Any info would be appreciated.
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Replying to: jamesgland (Jun 05, 2009 10:31 am) I would suggest going to your bank(s) first to get an idea of how you might be treated. Otherwise, I'd suggest that you try to save enough to pay the complete cost of the truck. (Consider that if you don't believe that you can save for the truck, how can you ever hope to meet the monthly payments on a loan?) |
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