I’m looking to understand the typical down payment amounts that Buy Here Pay Here (BHPH) dealerships expect from customers. What is the general range, and are there specific factors that might influence the required amount?
I’ve heard that the down payment really depends on a bunch of things, like the price of the car and your income. Some BHPH dealerships might require 10% down, others could ask for more like 20%. I guess it could vary based on how much they trust your ability to pay back the loan. If you have a steady income and can show them you’re reliable, they might be a bit more flexible, but that’s just what I’ve picked up from conversations with folks who’ve gone this route.