Traditional auto financing is when your purchase is paid in full to the dealership by a finance company and you pay the finance company in installments. Buy Here Pay Here financing is when the dealership is the finance company as well as the seller. Both instances you don’t own the vehicle in full until the finance company either changes the title over to you or removes the lien.

Buy Here Pay Here Financing is typically done when the purchaser does not have credit history, has bad credit, or the vehicle does not fit the requirements of finance companies. Financial companies won’t typically give loans to someone without credit history. Having a credit card for over 5 years and having a loan, in good standing or paid off, for a furniture purchase would be an example of good credit history. Having [...]