What is the typical car price and cost at dealerships that offer buy-here-pay-here? Let’s take a look.

Auto Vehicles Rates

Pay Now and Later. Because of the higher risk of lending money to borrowers with bad credit, BHPH dealers charge a rate that is usually between 15 to 25 percent. Interest on a 60-month loan could cost hundreds of dollars.

Vehicle Costs

The price of an used car at a Buy Here, Pay Here dealer can vary significantly depending on its model. But the average cost for a vehicle is between $10k and $15k Due to the higher interest rate and additional costs of financing these prices could be double the price you would pay at a normal dealership.

Pricing and Vehicle Insurance

The rates and prices of cars at buy-here, pay-here dealerships may vary. Also considered are the condition and age of the car, the amount of loan, and its length. Your income and credit score will be factored in when determining your rate of interest.

Do your homework and shop around to find the right vehicle for your needs and budget.