I’m Jane. She is a single mother and relies on her car to commute to work, as well as drop her children off at school. She has not been able to get regular auto finance because of her poor credit rating. This could have been a problem. It is possible to find local buy here-pay here car lots, related site?

Jane decides to visit a nearby BHPH dealer to see if it can assist her in getting into a vehicle. Jane decides to buy a secondhand car that she loves, and agrees with the dealership’s financing terms. Jane is certain that this is her best choice for getting the car she wants, even though it comes with high-interest rates and a large down payment.

Jane is happy to leave the dealership in her new vehicle after a pleasant, helpful experience. She is glad to be able to get transportation again.

The first few months go well. Jane is reliable and secure with her payments. She also appreciates the freedom that a personal car provides. However, Jane’s financial situation starts to deteriorate when she is confronted with unexpected costs. These include her child’s medical bills. It becomes difficult for her to make the payments.

Initial, the dealership is sympathetic and willing to work with her in finding a solution. They propose to temporarily reduce her payments and prolong her financing arrangement. Jane’s payments begin to fall and the dealership needs patience.

Finally, the dealership sends a repossession agent out to retrieve Jane’s vehicle. Jane is distraught. Jane is in despair. She spent so much money and time on the car that it’s not even there. Without a means to transport, she struggles to make ends work.

Jane’s tale may be fiction, but it is not uncommon. Unfortunately, many people use BHPH finance only as a last option. They don’t need the money to make payments or risk losing their property. Although BHPH financing may seem appealing to some, it is crucial that you understand the risks and evaluate your financial situation before agreeing to terms.