Florida law allows high APRs (often near 30%) for these types of loans.
Approval is based on your income and proof of residence .
Look up the dealer on the Better Business Bureau (BBB) and read Google reviews. pay here buy here orlando fl
Because the dealer is taking a high risk on the loan, the costs to the consumer are significantly higher.
Ask for a Carfax or AutoCheck report to see if the car was a total loss or has title issues. Florida law allows high APRs (often near 30%)
If you decide a BHPH lot is your best option, follow these steps to protect yourself:
Cars are often older, high-mileage vehicles bought at auctions. Because the dealer is taking a high risk
In a typical car-buying scenario, you pick a car and the dealer finds a third-party lender (like Chase or Wells Fargo). In a BHPH model, the dealer lends you their own money. The dealer is your "bank."