by Scott Stillings - Posted 4 years ago
BUY HERE PAY HERE: FACT or FICTION?
Will the dealer will try to get a down payment that is close to what he paid for the car. In other words, the down payment will cover the majority of the cost of the car. The payments and interest paid by the borrower are primarily profits to the BHPH dealer.
Some dealership will require down what they have in a vehicle. Most of these dealerships are lower end, smaller lots. It costs over $1000 in taxes and fees just to sell a vehicle, so with your $500 down, That doesn’t even cover the sales tax. Larger nationwide dealerships, like DriveNation USA can absorb the high costs of sales and get you in a better vehicle. Just be a smart shopper. There is a TON of info now available to consumers. Do your homework, but understand We are here to help you and partner in rebuilding your credit and getting you in a good vehicle!