The zero down myth has been around so long, we're not sure where it from originally. The point we want to get across is the fact that Zero down requires a lot more effort and work on your end, but it can be done. Many of these "Zero Down" programs are junk anyway, they tell you one thing and then do another when its time for paperwork.

Your credit requirements will be very high, even if you have a cosigner with good credit. The catch here is they want someone else to lose money investing in your business. BHPH dealership typically don't care about bad credit or no credit, so this means you'll probably have a better chance getting approved before the person with good/average/perfect credit history does because of their scores.

You should never have to pay anything upfront while going through dealer financing or buying a car. It's the dealers job to come up with creative financing and because of this, they will sometimes ask you for down payments, but its not required. If you do pay any money upfront, it should be the smallest amount possible and only if your dealer really likes you or is willing to risk losing business because of their lender requirements.

Bottom line, these bad credit car lots are looking for some kind of down payment to minimize the risk. If the dealer is willing to take on all the risk, you might be able to get something free or close too it if your credit is good enough.

The more money you have available for a down payment can really help increase your chances of program approval because having cash shows that you're serious about buying a vehicle and not just wasting their time with some hot air story. The worst thing they hate are people wasting their time so if its free or close to free why not try? We are talking about buying here pay here dealers , so this means they will most likely do whatever it takes up front without any questions asked because they want your business and they want you driving.

They will require a down payment if your credit scores are low, but it won't be very much. Usually $500 or less. Just because you don't have money for this payment doesn't mean its not possible, many BHPH dealers will work with you on your down payments. You just need to ask about getting an auto loan that requires no down payments .

Bottom line is: It's quite possible to get zero down at a buy here pay here car lot , but only if the right things happen and "the stars align". If your credit history isn't so great and/or you have some other issue(s) going on with your finances, then expect to drop some cash as part of this transaction.

Hope this article helps you to understand the Buy Here Pay Here Requirements.