I’m considering purchasing a vehicle through a buy here pay here dealership, but I have a repossession recorded in my credit history. I would like to know if this will affect my ability to secure financing and purchase a car through this type of dealership.
Absolutely, you can still get a car through a buy here pay here (BHPH) dealership even with a repossession on your credit history. BHPH dealers primarily look at your current income and ability to make payments rather than your credit score. However, expect higher interest rates and less favorable terms. They’ll likely require a larger down payment and may have tracking devices installed in the car. Make sure you understand the terms thoroughly before signing anything, and only commit if you can comfortably manage the payment schedule. Research and compare a few BHPH dealers to see who offers the most manageable terms.