Purchasing a new car from a buy here pay here auto dealer is not for the faint of heart. Not only are you being charged a higher interest rate, you’re also subjecting yourself to a variety of fees and hidden costs. If you don’t know what you’re getting into, you could wind up upside down on your loan and driving a car that costs more than it’s worth.
Can you borrow money for a down payment?
If you’re looking for a new car with bad credit, you may be surprised to hear that buy here pay here auto dealers miami fl don’t offer the most affordable loans. The good news is that you may qualify for a better interest rate through your local credit union. Besides, you can often get the same car for less at a used car lot.
It’s also a good idea to shop around and compare the best deals. You might also want to consider getting a preapproval. This way, you’ll know exactly what you’re getting into before you even start shopping. The most reputable lenders are more than willing to work with you if you’re not perfect. Moreover, you’ll be able to get the most out of your money by comparing the best deals on both a new and used car.
While you’re at it, you may also want to find a buy here pay here dealership that has good reviews. This will ensure you won’t be disappointed in the quality of the car you get.