Buy Here Pay Here lots inflate prices on vehicles. Not true. A real Buy Here Pay Here company by state law must charge the same price for a cash sale as they would for a sale on credit. Different prices means the dealer loses his license or faces bigtime fines.
All the vehicles at Buy Here Pay Here lots are old clunkers that barely run. Nope, no way. How can we expect customers to return if we sell them poor running cars? Also,and most important, will you continue to make payments on a vehicle that doesn't run right? We have 2 -5 year old vehicles and older vehicles that we recondition but we try to keep the price under $6000.00 so they are affordable to working people. Some folks just need a car to go back and forth to work so the can get or keep a job. Some want a school car for the kids.
The interest rates are as high as the Pay Day loan companies 200% and higher. No again. Our State of Iowa Attorney General lists allowable highest amount of interest(Chapter 322.99 Code of Iowa) that can be legally charged as 21% on new cars, 24% on used vehicles under 2 years old and 27% on used cars over 2 years old.
Why are you in the Buy Here Pay Here car business? We want to help people obtain vehicles. Yes, we are a different type of dealer. WE TOTE THE NOTE!!! We treat you with respect and kindness and a honest way to purchase a car. We work with a finance company that will okay almost all of our deals. Go to the application page. Thanks