Car Financing

How to Buy a Car from a Buy Here, Pay Here Dealership Without Getting Screwed

Growing up in the economically depressed, car-dependent Rust Belt meant that the big tax return checks we got in the spring often went to securing another family car. Most folks I knew who depended on these refund checks to make it through the year didn’t have great credit, either. Maybe it was poor money management or just the circumstances of being poor, but they were prime targets for the “Buy Here, Pay Here” dealership model.

Buy here, pay here dealerships have a bad rap, all of it deserved. Still, it can often be the only source to get a (somewhat) decent vehicle for the cash- and credit-strapped.  But there are some choices that can be made at a buy here, pay here lot to minimize hardship and get the best out of a bad situation.

What is a buy here, pay here dealership?

For those with no credit or bad

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Title Loans: What You Need to Know

Car title loans are designed for people who need cash fast, whether to cover an emergency expense, pay essential bills or manage debt. Some lenders don’t run a credit check and may not even require proof of employment or income, making auto title loans easy to access, even for consumers with a troubled credit history.

But as with many other loans that are accessible to consumers with bad credit, the appeal of these cash loans is overshadowed by their steep costs and harsh consequences if you can’t repay what you owe.

What Is a Title Loan?

A title loan offers short-term financing to borrowers who own their car outright or have significant equity in it. Lenders use your vehicle’s title – a document that proves you own your car – as collateral for the loan and typically require payment within 15 or 30 days.

With such a short repayment

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