Would you buy a Tacoma from a buy here pay here?

Typically, I won't, no offense to anyone meant. But, a lot of 2015+ are there with good prices, clean Carfax, etc. It's a Toyota, so I thought it might be worth a chance.

Say it is 3-5k less. I have the money, no financing needed. I don't want to spend it unnecessarily. I know Carfax isn't perfect but it's a good tool, that and autocheck and service records.

 

Some folks have no other choice unfortunately.

 

What’s a buy here pay here?
Pay all in with cash?

 

People with no credit bad credit. Usually are stuck going to these places. They own the cars and you pay them direct. Probably like 25% interest.

 

Got ya, thanks.

 

That's true. Sometimes they sell the same car over and over from repos, sometimes to the same person.

 

If the truck is clean, has a clean car fax, and no bodywork etc then give it a try. Just make sure you can pay cash and not be stuck with their crazy finance rates.

 

I tried (several months ago), to buy a truck from a buy here-pay here lot. The guy wouldn't sell it to me. Why? Because I wasn't going to finance it. I wanted to pay cash for it. See, these dealerships make money on the financing of their cars (most are shit, but you find some gems).

A little over 20 yrs ago my credit was absolute shit and I didn't have a co-signer. I went to a buy here-pay here (also known as Tote-The-Note), and financed a used 1997 Nissan Altima with decent miles on it. It was $8999+ TTL. My interest rate was (sit down, this is gonna hurt to read): 21.9%

I was so broke and my credit was so bad, I had to take the fucking that they offered me. After 3yrs, I paid a grand total of $16k for that car. It was worth about $4k wholesale.

Now my credit is in the mid 800's, so I can get the lowest rate possible.

 

You can ask. I asked about buying a Jeep Wrangler off one of those lots a few years ago with cash. They wouldn't make the sale. Guy just turned his back and walked back into the office.

 

Same experience.

I've tried to buy a manual Jetta wagon and a Pro from one of these places. They had no interest unless I financed it.

 

Nope. Those places buy the cheapest vehicles they can get at auctions which means most are garbage.

 

Don't tell ANY dealer how you intend to pay for the car. Tell them that is totally dependent on the out the door price they are able to come up with. No sales guy likes a cash buyer.

BTW, CarFax is bullshit. It's a very tiny tool in a huge multi-faceted equation. I have NEVER found 1 that wasn't missing some very significant and important info. Usually it applied to significant crash damage.

 

Can you not finance and just payoff on first payment or pay most of it as the down payment? If it's a solid truck and no different than a private party sellers truck.

 

They won’t do it, and usually have to pay weekly

 

The big dealers go to those same auctions to add to their inventory. The vehicles come from all sorts of sources, lease returns, bank repos, dealer's old inventory, junk trade in from the dealer. Some are great still under factory inventory vehicles, some salvage title junk with a million miles and everything in between. When buying a used vehicle from anywhere your best to do your own due diligence because at the end of the day any franchise dealership or bad credit place are there to make money on you whether it is a good vehicle or a junk one. Too bad we can't always find those private party one owner garaged elderly guy trucks.

 

A number of summers ago I worked at an auction car place in Phx. Cactus Jack's is one that will have their own vehicles repoed and they will re-buy at the auctions. The same vehicles will come through end over end. At the auction company they go under another name.

The buy here pay here is notorious for putting low jack on the cars. They even install equipment to auto disable for non-payment. Obviously it's not able to do it while the vehicle is running though.