Buy here pay here Orlando car dealers give individuals of all credit scores the chance to own the car they need. If you’re looking for a car in Orlando and your credit score leaves a lot to be desired, you can take a chance at buy here pay here (BHPH) car lots. These dealerships typically have less strict requirements – some don’t even run credit checks – so you have a better chance of getting approval for auto financing. However, not all car dealerships are the same. Here are some great shopping tips that can help you find buy here pay here auto financing that fits your budget.

Top Shopping Tips for Buy Here Pay Here DealersResearch your dream car’s purchase price.

Don’t get caught unaware by the prices on the cars for sale at buy here pay here dealerships. Some dealers inflate the list price on their vehicles to take advantage of unwitting, desperate buyers. This is why it’s best to do your research on a used car’s Kelley Blue Book value. You might not get the exact KBB price, but make sure the total vehicle cost is a reasonable one. If a BHPH car dealer won’t negotiate on a car price that’s too high, you’re better off looking for another car dealership for the pre-owned vehicle you want.

Don’t immediately accept the first deal offered to you.

It’s never a good idea to accept the first offer presented by buy here pay here dealers. What disreputable buy here pay here car dealers do is hike prices well ahead of time, assuming that the price will go down with each customer. The first offer may sound too appealing to pass up, but keep in mind that there’s always room for negotiation, especially at BHPH car dealers. You may end up paying more than the vehicle’s value in the long run if you immediately accept the dealer’s initial offer.

Find out about the car’s origin.

Buy here pay here car lots in Orlando specialize in selling pre-owned vehicles. Just like in any purchase of a used car, you’ll want to know the car’s origin and history before you sign the dotted line. Reliable BHPH car dealers should have no problems providing you with a detailed vehicle history or even a CarFax report, which details the mechanical trouble and any accidents the vehicle has encountered. Make sure to give these documents a thorough check so you know what to expect from the vehicle you’re considering. A BHPH car dealership that refuses to provide a vehicle history or CarFax report probably shouldn’t be trusted.

Get an independent inspection of the car you want.

While buy here pay here Orlando car lots have in-house mechanics that inspect vehicles before sales are made, it’s always best to have your own mechanic check out the vehicle and its performance. This way, you’ll have unbiased information on the vehicle. You can also ask the car dealer if you can test-drive the vehicle so you can see for yourself if the vehicle is in good condition. If the dealer refuses your requests for an independent inspection and a test drive, chances are good that the dealership is hiding something. Walk away and look for another dealership that will grant you these requests.

Choose a buy here pay here Orlando car dealer that’s near your location.

Auto financing experts recommend going with a BHPH car dealer that’s near where you live or work. This would make it easier for you to make on-time monthly payments, as many dealers prefer to receive cash payments that are paid directly to them. A buy here, pay here car dealer is also more likely to approve auto financing for a customer’s from the same area, as this makes it easier for the dealer to maintain the agreement with the customer. Plus, it’s easier to bring back the car to the dealership for repairs and maintenance when needed.

Make a larger down payment in cash.

You want to save as much money as possible when you’re shopping at buy here pay here dealers. One way to keep your monthly payments low is to put up a larger down payment. The more you pay upfront, the greater your overall loan term is reduced. Auto financing experts say that it’s best to save up at least 20 percent of the total cost of the car you want. It’s a good thing if the BHPH dealer requests for more than that, too, since that just brings the down the balance you’ll be paying off each month. Remember to negotiate for shorter loan terms if you’re paying a large down payment.

Don’t be afraid to shop different interest rates.

Bad credit no credit auto dealerships and buy here pay here car lots often offer higher interest rates to protect their profits in case a customer defaults on his auto loan. Double-digit interest rates aren’t uncommon in BHPH car dealerships, but an interest rate that’s higher than 20 percent is excessive even for subprime auto loans. It’s also a good idea to carefully check the loan documents and make sure that the annual percentage rate or APR is what you and the salesperson agreed on. You’ll also find a lot of online APR calculators that you can use for verification.

Go for short-term financing if possible.

When it comes to auto loans, shorter durations are always better. While it may be tempting to go for a 64-month loan term to keep monthly payments more affordable, you’ll end up paying more towards interest. At the end of the loan term, you’ll have paid way more than the vehicle’s total value. It would be much better for you to make relatively low bi-weekly payments over the course of 32 months. This way, you can keep the interest rate low and ensure that each monthly payment fits your budget.

Find out what happens if you miss a payment.

Buy here pay here Orlando car dealers often have varying policies when it comes to delayed monthly payments. Other BHPH dealers may have the vehicle immediately repossessed when you miss a monthly payment, while others send reminders through phone calls or text messages at the mobile phone number you provide. Most loan documents from buy here pay here car dealers state that your signature indicates consent to receive text messages about your financial agreement. While you should never miss a monthly payment anyway, it’s good to know what to expect if an emergency causes you to delay payment to the BHPH dealer.