The most frequent question that is asked of us here at BHPHPrices.com is “what’s the least dollar amount that is necessary to put down to acquire a vehicle?”. While many BHPH dealers have different standards, the most frequent dollar amount required and the most frequent dollar amount available to put down is $500. This seems to be the industry standard. $500 demonstrates your willingness to commit and your seriousness about paying the balance to your dealer. However, if this is your first BHPH deal, do not “over expect”. By that we mean please do not intend on walking out of the dealership with an upper end vehicle. Remember the dealer is feeling you out at first, and his initial cash outlay is much greater than he is taking in. So, don’t be offended if he directs you to a certain vehicle that he is comfortable selling. Also, be advised that you should relay any “must haves” to your dealer; for example 4 doors, air conditioning, multiple passenger, 4×4, SUV etc. Once you establish a history of repayment, it should be easier to upgrade your vehicle.
To sum up, you should have at least $500 down and demonstrate an open mind and willingness to compromise. By that, we do not mean to surrender but be flexible. Check out this site and explore prices and please fill out a loan application. After all, your journey begins right there
This article was written by Brian McCormick of Providence, Rhode Island. Brian is a BHPH expert and has been involved in the used car and BHPH industry for over 40 years. He enjoys his family and his favorite sports team, The Boston Red Sox. He Graduated from the University of Rhode Island in 1970. Follow him on Google+
