Anyone know of legit buy here, pay here companies

Question

I live in Birmingham, AL and there are plenty of buy here, pay here places. I do not know who or where to start, or avoid...anyone have opinions? My mom recommended JD Byrder, but that's in Indiana. I do not know about the one in Tuscaloosa.

I'm hoping to find someone who'll report my payments to the Credit Bureau.

I can go as far east as Tuscaloosa, AL... North to Gardendale.. West to Gadsden...and South toward Pelham!

Please help me! My credit is bad, as I've filled bankruptcy.

Answer 1

Most such companies are legitimate but their cars and business ethics leave much to be desired. They sell overpriced cars at the highest interest rate allowed by state law. They put you on a weekly or bi-weekly payment plan, and put a starter interrupter device on your car so that if you are late with one payment, your car won't start. If you miss a payment, the car is immediately repossessed and the car put back on the lot. Some such dealers report to credit agencies, most do not bother.

Try to find another way to buy a car. Can you get someone to co-sign with you on a loan? It's a good way to get a good car, good interest rate, and to build up your credit again.

Answer 2

Look for a Drive Time outlet in your area.  They are a step above BHPH, but still used cars.  They do carry their own loans, and can finance just about anyone.  And the cars are typically several steps above 'Billy Bubba's Used Kars"

Answer 3

These buy here - pay here dealers exist to provide people with limited choices the opportunity to buy a car. They are exploitative by nature. They know you can't go down the street and buy a car from someone else. They typically charge high prices for marginal vehicles to people who have limited means to pay. That said, for many people it's the only way they can buy a car. These dealers don't s***w around and can start repossession if you're a day late with your payment. If this is your only option, choose carefully and whatever you do, don't be late on your payments.