They are given a list of vehicles that are qualified to buy and finance and choose their vehicle of choice. Yes, that is different from your traditional car dealership, but things are done differently in the purchase here pay here car dealership. Some people say the car is too expensive, but you need to remember that the BHPH dealer is about to finance a customer with very bad credit Insurance and a small down payment. The Buy Here Pay Here dealer is playing with the odds and waiting for the buyer to make the payments as agreed, but a certain percentage of all sales will have to be repossessed after the buyer has run over the car. The buyer of the car with the bad credit knows that they will pay a high price for the car and an interest rate that is high to compensate the dealer for the high risk and the expenses that they will have to absorb when they recover the vehicles. Buy here Pay here Procedures and conditions of the car dealer The preparation and signing of the documentation is done at the distributor’s office, which is a contract between the buyer and the dealer. The documents are all legal and comply with regulations established by the state when the car is being purchased and financed. The terms and conditions are set by the distributor and the buyer must comply with all those conditions or they are violating an agreement law. The last thing you want to do is be late with your payment because the car can be seized the next day. Grace periods for late payments are rare and the BHPH car dealer is within their rights to seize the vehicle one day after the payment is delayed. I could say that there is zero political tolerance when it comes to enforcing the terms and conditions of the contract between the distributor and the buyer. BHPH Auto Dealer Bad Dealers, Repos and errors Even the best broker dealers will surely make bad deals, mistakes and will have to recover vehicles. They are careful to do everything possible to avoid problems, but it still happens. If they have to recover a car, they have to hire a recovery company that can cost several hundred dollars and then they need to do something with the car Very often the car has been in an accident or ran hard and kept wet, which makes the car worthless and be ready for the junk yard. It is very rare for a repossessed car to be in good shape again. Buy Here Pay Here car dealers take it to the chin and lose money, but hopefully, learn a lesson when it comes to qualified buyers. Buying a car from a BHPH car dealer is different from doing business with the traditional dealer in several ways, but it is a second chance or perhaps the last chance for the car buyer with bad credit.
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