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Buy here pay here (BHPH) click here, financing is a popular option for people who need a car but have bad credit. But how exactly does BHPH work? Let's take a closer look before we search for car lots with buy here-pay here near me.

Step 1: Locate a BHPH dealer.

The first step to BHPH financing is finding a dealer that offers this financing. These dealerships can be easily identified by prominently displaying "Buy Here, Pay Here" and "No Credit Check" on the lot or website.

Step 2: Select a vehicle

BHPH dealers often have fewer cars than conventional auto loans. They are more flexible with credit requirements and will work with you to find a car that meets your needs and budget.

Step 3: Talk about the cost

Because BHPH retailers often charge higher interest rates that conventional lenders, the overall cost of the car may be greater than expected. Be sure to inquire about any additional fees.

Step 4: Complete the loan application

If you are satisfied with the terms and interest rate, it's time for the loan application to be closed. This usually involves disclosing personal information and financial details such as income, credit score, and employment history.

Step 5: Make a downpayment.

Depending on the vehicle's price and the criteria of the dealer, the BHPH down payment could cost anywhere from a few hundred dollars to several thousand.

Step 6: Sign the loan contract.

This document will outline the terms of the loan including the interest rate and repayment plan as well as any costs.

Step 7: Make your payments

Monthly payments are required at BHPH dealers. They can be made in person, online or over the telephone. You can avoid penalties and foreclosure by making your payments on-time and in full.