Buy Here Pay Here Installment Contract -

Most BHPH cars lack warranties; check for a "Buyers Guide."

A installment contract is a unique type of auto financing where the dealership acts as both the seller and the lender. Unlike traditional car buying, you don’t get a loan from a bank; you owe the dealer directly. How the Contract Works Direct Lending: The dealer holds the "paper" (the debt). In-House Payments: You often pay at the lot. Flexible Credit: Approval is based on income, not scores. Short Terms: Loans usually last 2–3 years. Key Terms to Watch For High APR: Interest rates often hit 20% to 30%. buy here pay here installment contract

"Pick-up payments" that cover a short-staffed down payment. Most BHPH cars lack warranties; check for a "Buyers Guide

Many cars have GPS trackers or remote kill switches. In-House Payments: You often pay at the lot

Not all BHPH dealers report to credit bureaus.

Ensure the "Truth in Lending" box is filled out.

These may limit your right to sue in court. Common Pitfalls