If you’re looking for new wheels but your credit score is poor, then there are other options available. Although you have heard of “Buy Here Pay Here,” you are not certain how much it will cost. Get ready for a roller coaster ride as buy here pay now wv takes you through BHPH pricing, and the consequences of failing to pay – more bonuses.
First of all, prices at dealerships that offer “Buy Here-Pay Here” can differ significantly. All depends on the year, make and model of the car, as well as the dealership location. The catch is that “Buy Here, Pay Here” finance often comes with high interest rates. So even a cheap car could cost you more over the course of time.
What will happen if you do not pay? Just like any loan, your automobile can be repossessed by the dealer if you miss a payment. It means that the dealer will pick up the vehicle, and leave you with no car.
Hold on, there is more to come! But there’s more! The dealership will continue to charge you for the rest of your loan amount and the costs associated with repossession. It means that you will be unable to pay off your debt due to the fact that it keeps increasing.
The lesson that can be drawn from the story is: What are you going to do? Before buying a car at a Buy Here Pay Here dealership, you should carefully plan your budget and ensure that the payments are affordable. In the event that you miss a payment, or cease to make payments altogether, you may have your vehicle repossessed. This will leave you in a debt spiral and with damaged credit.