Whats the difference between buy here pay here lots and regular car dealerships?
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i wana buy a car...i have about 500 to put down on the car and i have a job...i just wanted to know whats the best place to get one...im hearing that buy here pay here lots are not a good choice but the prices in the cars are in my price range...and i have no credit and im also 18..
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Answer:
Buy here pay here places are generally way over priced. A lot of them claim 0% financing but consider the extra few thousand you are paying for the car the financing cost. Also, they have no warranties. I say try a dealership (Hyundai is great I had good luck financing thru HMFC). Also, try Enterprise Rent A Car. They sell certified cars BELOW Kelly blue book price, and they do trade ins, financig, and have warranties on all the cars. This is the way to go if you are looking for a used car! Www.enterprisecarsales.com
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Other answers
The BHPH lots are where all the "bottom feeders" work. They do not offer "0" percent financing. They cater to those with bad credit that cannot get financed elsewhere. The vehicles sold there are for the most part bought at auction then they sell them for inflated prices. Typically what they get for the down payment is what they paid for the car. That way when someone defaults on a deal they repossess it and re-sell it and never lose money. You would be much beter off saving up as much as possible and buying a vehicle for cash from a private party rather than a dealer. They don't need to charge as much because of overhead costs and you get a better idea of the care the car has had. make sure to have a good mechanic look it over before you buy.
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