Autos10 Aug 2009 07:10 am
If you want to know about car dealers that offer in-house financing, otherwise known as BUY-HERE-PAY-HERE-CAR-LOTS, then there are a few things that you ought to know. First of all, these types of dealers make most of their money charging high interest rates. They also make a lot of money reselling cars because if you’re even a week late on your car payment they will come back and repo your car. Then they sell the car to somebody else and make even more money. So if anybody out there is thinking about using one of these types of car dealerships that do their own financing, then you should really think twice before you jump in to that type of deal.
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