Essay about Should You Trust A Buy Here Pay Here Car Lot?
Most likely you have seen a “Buy Here Pay here” car lot at some point. They are virtually everywhere. Both small towns and large cities have them. There is often no credit check for you to purchase a car through them and the promise a low down payment with sometimes low monthly payments on any vehicle in stock. It sounds like a great deal to most and it does tempt a lot of people to venture out and buy their next pre-owned vehicle. The question is, should you trust these car lots that promise so much?
The Beauty of It All
One of the best things about a car lot that allows you to purchase a vehicle with a buy here pay here deal, is that it makes it easy. Most people go to them when they have no credit or bad credit. When they need a vehicle in a hurry and when they simply have no other choice. It is often the last place to go for someone who cannot get a “good running” vehicle through other means. They simply do not have more money than a grand and they can turn $800-900 into a vehicle whereas other dealerships would want much more.
The Way It Works
In most Buy Here Pay Here situations, the car lot will lend you the money to purchase the vehicle. You sign on the dotted line saying that you will pay them back every dime of the money you owe them and in return, you get to drive away, that day, in a vehicle of your choice. It’s just such an easy deal and most of the time, too tempting to resist.