Buy here pay here dealers near me dealers offer no credit check car loans, which appeal to people with poor credit or no credit history. In some cases, this type of financing can be a good option for people with bad credit or no credit history, but you should consider all the factors before making this type of decision. In addition, a buy here pay here dealer may not report your payment history to the credit bureaus, which can hurt your credit score.

Get a co-signer

Many people with bad credit find it difficult to qualify for financing through traditional car dealerships. They may try to get a personal loan from a friend or family member, or even go to a local bank. However, if these options are not available, they may need to consider buying a car from a buy here pay here dealer. Because of this, these dealers provide in-house financing to people with bad credit, but there are some cons to buying a car from a BHPH dealership.

For example, if a car is more expensive than the borrower can afford, the dealer may not set a maximum loan amount based on the vehicle’s value. This means that the borrower could pay more than the car is worth, which could result in the borrower ending up upside down on their loan.