NightRider Posted February 22, 2011 Report Share Posted February 22, 2011 Anyone happen to know of some decent buy here-pay here car lots? A place that's actually worthwhile...and doesn't have a plethora of shitty cars? Looking for ones around the Lancaster area. Any info is appreciated. Thanks. Quote Link to comment Share on other sites More sharing options...
Bad324 Posted February 22, 2011 Report Share Posted February 22, 2011 i don't have personal experience with it however a good friend and coworker in college went that route and financed through them and got royally screwed. Ended up paying like 2.5x the amount the car was worth when she originally bought it but 4 years later Quote Link to comment Share on other sites More sharing options...
NightRider Posted February 22, 2011 Author Report Share Posted February 22, 2011 i don't have personal experience with it however a good friend and coworker in college went that route and financed through them and got royally screwed. Ended up paying like 2.5x the amount the car was worth when she originally bought it but 4 years laterYeah. I'm not looking for a brand new camaro or anything, just something newer than what i have (92). I really don't want to pay more than 2k over what i have. To pay off the car quickly. 2200-2400$ is what i have. Would like to keep the car at around 3500-5000$. Quote Link to comment Share on other sites More sharing options...
chevysoldier Posted February 22, 2011 Report Share Posted February 22, 2011 I've never heard anything but horror stories with these kinds of places. You'd be better off taking some cash to an auto auction like this one. http://www.cfaa.com/ Quote Link to comment Share on other sites More sharing options...
Bad324 Posted February 22, 2011 Report Share Posted February 22, 2011 Yeah. I'm not looking for a brand new camaro or anything, just something newer than what i have (92). I really don't want to pay more than 2k over what i have. To pay off the car quickly. 2200-2400$ is what i have. Would like to keep the car at around 3500-5000$.for something in that range you are better off trying to get a personal loan from a bank and pay that off quickly.My personal line of credit from US Bank had a better interest rate than my damn car loan I had on my old G35. But I got a great deal on the car and it was right after I got my first job out of college so I didn't care at the time, I had to have it Quote Link to comment Share on other sites More sharing options...
Steve Butters Posted February 22, 2011 Report Share Posted February 22, 2011 join a credit union and get an auto loan through them for the balance on whatever you buy, and try to find something in nice condition on craigslist - you will get more for your money compared to one of those shady dealership lots...credit union is the best way to go when looking to finance anything Quote Link to comment Share on other sites More sharing options...
JStump Posted February 22, 2011 Report Share Posted February 22, 2011 or if you plan on paying it off in a year or less try to get a loan on a credit card you already have(if you have a high enough credit limit), i did that when i bought my car and had a 1.99% interest rate for 12 months, you just have to call them and tell em you are wanting to borrow a lot of money and want a promotional interest rate, just make sure you pay it off in the allotted time or else it will go back up to like 20% or whatever your rate is. i payed off a $4000 loan in like 8 months and only payed like $50 in interest lol. Quote Link to comment Share on other sites More sharing options...
Cheech Posted February 22, 2011 Report Share Posted February 22, 2011 Buy here/pay here's (BHPH) are called in the industry rat lots for a reason, the only people that buy cars from them are people with shitty credit. The normal business model for a BHPH is to "sell" you the car, then you make payments directly to them. If you are so much as a hour late with your payment, they come find the car (that had a convenient GPS tracker on it the entire time) and repo it back. A little cleaning later, and it's back out on the lot as a slightly more used car.From what I can see, most of the dealers on CL are the shady auction resellers. Personally, I have a hard time trusting auction cars because it's possible given the right sequence of states it's been sold through that the title could be washed clean of any salvages. Not my cup of tea.Find a owner on CL and get it inspected by a good mechanic. Expect to pay for his services. Run the title through carfax, if between the title (the history) and the inspection (the present) the car looks good, you should be good. Quote Link to comment Share on other sites More sharing options...
chevysoldier Posted February 22, 2011 Report Share Posted February 22, 2011 My dad and I have bought 6-8 cars from the Columbus Fair auto auction and never had any issues. You need to be mechanically inclined so you can inspect them but they have a good reputation Quote Link to comment Share on other sites More sharing options...
NightRider Posted February 22, 2011 Author Report Share Posted February 22, 2011 I've never heard anything but horror stories with these kinds of places. You'd be better off taking some cash to an auto auction like this one. http://www.cfaa.com/Have you...or anyone you know ever purchased a car from an auction? Just looking at the website. You need to pay 150$ for a bidders badge...and maybe i read this wrong? But it seems as i can only bid on repossessed cars. And i need to make a deposit of 350$ on each vehicle i bid on. Obviously...i get the deposit back if i don't win, but each car? join a credit union and get an auto loan through them for the balance on whatever you buy, and try to find something in nice condition on craigslist - you will get more for your money compared to one of those shady dealership lots...credit union is the best way to go when looking to finance anythingIs there any difference applying for a loan through a credit union compared to a bank, besides maybe lower rates? IE: What you would need to provide, to start the loan process. Pay stubs, phone bill, whatever. Quote Link to comment Share on other sites More sharing options...
NightRider Posted February 22, 2011 Author Report Share Posted February 22, 2011 My dad and I have bought 6-8 cars from the Columbus Fair auto auction and never had any issues. You need to be mechanically inclined so you can inspect them but they have a good reputationThanks for all the replies. Quote Link to comment Share on other sites More sharing options...
chevysoldier Posted February 22, 2011 Report Share Posted February 22, 2011 Have you...or anyone you know ever purchased a car from an auction? Just looking at the website. You need to pay 150$ for a bidders badge...and maybe i read this wrong? But it seems as i can only bid on repossessed cars. And i need to make a deposit of 350$ on each vehicle i bid on. Obviously...i get the deposit back if i don't win, but each car? .Yeah, you read it right. The $150 for the badge is good for a year. $350 deposit per car you plan to buy. They run 3-4 lanes at once and they go fast! It helps to have other people there to watch. I think $25 will allow a visitor but they can't bid. They have some really nice cars go for cheap as hell! Of course sometimes they go for more. Quote Link to comment Share on other sites More sharing options...
Steve Butters Posted February 22, 2011 Report Share Posted February 22, 2011 lower rates - less stupid feesnot sure what you need to sign up at one, ive been a member my whole lifefor an auto loan, you just bring in a pay stub showing how much you make, and they will check your credit and adjust your rate accordingly (at least at the one i go to, i imagine it varies between which one you use)banks are thieves, once you use a credit union you will never go back to a bank Quote Link to comment Share on other sites More sharing options...
chevysoldier Posted February 22, 2011 Report Share Posted February 22, 2011 banks are thieves, once you use a credit union you will never go back to a bankThis. Quote Link to comment Share on other sites More sharing options...
Jst2fst Posted February 22, 2011 Report Share Posted February 22, 2011 I've used a BHPH before when I was a teen and got some good suv's a back in '06 I had a "99 Chevy Blazer that was a steal guy just bough it at auction and was mint only 90,000 miles on it. As far a Cheech is saying with the gps tracker completely illegal to do. I never had any problems with the guys a the lot got a warranty that cover everything for six months had to have the seats belts fixed so it was done at the dealership they paid for it and what not. Sad part was I was only ably to enjoy it for a month before I wrecked it . Its a hit or miss with BHPH lots some are shady as hell and some are legit. Oh, mine was reported to the credit agencies so that helped my credit a bit. It all depends on what your gonna use the vehicle for if its just around tyown and a beater works for you but if your gonna do some traveling then you might want to get an auto loan and buy a newer model vehicle. My two cents..... Quote Link to comment Share on other sites More sharing options...
chevysoldier Posted February 22, 2011 Report Share Posted February 22, 2011 I've used a BHPH before when I was a teen and got some good suv's a back in '06 I had a "99 Chevy Blazer that was a steal guy just bough it at auction and was mint only 90,000 miles on it. As far a Cheech is saying with the gps tracker completely illegal to do. I never had any problems with the guys a the lot got a warranty that cover everything for six months had to have the seats belts fixed so it was done at the dealership they paid for it and what not. Sad part was I was only ably to enjoy it for a month before I wrecked it . Its a hit or miss with BHPH lots some are shady as hell and some are legit. Oh, mine was reported to the credit agencies so that helped my credit a bit. It all depends on what your gonna use the vehicle for if its just around tyown and a beater works for you but if your gonna do some traveling then you might want to get an auto loan and buy a newer model vehicle. My two cents.....No they aren't. I've seen them. They are also able to disable the vehicle. Quote Link to comment Share on other sites More sharing options...
JStump Posted February 22, 2011 Report Share Posted February 22, 2011 No they aren't. I've seen them. They are also able to disable the vehicle.i would say its legal as long as the dealer holds the title cuz they technically own it till its payed off. Quote Link to comment Share on other sites More sharing options...
Jst2fst Posted February 22, 2011 Report Share Posted February 22, 2011 No they aren't. I've seen them. They are also able to disable the vehicle.I've only heard that being used on rental vehicles. No BHPH vehicles Quote Link to comment Share on other sites More sharing options...
chevysoldier Posted February 22, 2011 Report Share Posted February 22, 2011 Sorry. If it's still being paid for it's legal. When it's paid off, they remove the tracker. Sorry, forgot we were talking about BHPH dealers. Quote Link to comment Share on other sites More sharing options...
jporter12 Posted February 22, 2011 Report Share Posted February 22, 2011 I had a friend do well with a BHPH lot. He bought a reasonable car, the amount wasn't much more than he would've gotten from any other place. He had little choice with as bad as his credit was. Anyway, after a while through the contract, or whatever they call it, they offered him the option to transfer it to a regular loan, with a normal lender. I'm not sure of the terms, but I remember it being very fair.On the other side of the coin, I've seen many go the other way. I've also worked on some of the heaps that they sell. There were a few times that there was serious stuff wrong with a car, but the lot wouldn't want to fix it, they'd just sell it that way! I wish I would've had the means, and the time to watch and tell the people buying some of those vehicles what was up with them! Quote Link to comment Share on other sites More sharing options...
Jst2fst Posted February 22, 2011 Report Share Posted February 22, 2011 I had a friend do well with a BHPH lot. He bought a reasonable car, the amount wasn't much more than he would've gotten from any other place. He had little choice with as bad as his credit was. Anyway, after a while through the contract, or whatever they call it, they offered him the option to transfer it to a regular loan, with a normal lender. I'm not sure of the terms, but I remember it being very fair.On the other side of the coin, I've seen many go the other way. I've also worked on some of the heaps that they sell. There were a few times that there was serious stuff wrong with a car, but the lot wouldn't want to fix it, they'd just sell it that way! I wish I would've had the means, and the time to watch and tell the people buying some of those vehicles what was up with them!That's how mine was they offered me a second lender to take my loan and make it legit in my favor Quote Link to comment Share on other sites More sharing options...
Cheech Posted February 23, 2011 Report Share Posted February 23, 2011 No they aren't. I've seen them. They are also able to disable the vehicle.Bingo. As long as you are making payments to the BHPH, they retain the title and ownership of the car, which is what makes it so easy to repo them back if you're late on your payments. Quote Link to comment Share on other sites More sharing options...
NightRider Posted February 23, 2011 Author Report Share Posted February 23, 2011 I appreciate all the reply's. I think i'm just gonna stick with my current car for now. Quote Link to comment Share on other sites More sharing options...
max power Posted February 23, 2011 Report Share Posted February 23, 2011 I appreciate all the reply's. I think i'm just gonna stick with my current car for now.You should. That's the nicest beater car i've ever seen....and its paid for. Bonus. Quote Link to comment Share on other sites More sharing options...
NightRider Posted February 23, 2011 Author Report Share Posted February 23, 2011 You should. That's the nicest beater car i've ever seen....and its paid for. Bonus.Very true. It's definitely not bad looking at all. Just...with being a 92, and the miles...i get nervous there's gonna be a unforeseen break down. If the new job works out, i'll be driving 30 mins or so everyday. Quote Link to comment Share on other sites More sharing options...
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