: Don't just look at the monthly payment. Multiply the payment amount by the number of months to see the total price. You will often find you are paying double the car's actual value.
Virginia has specific consumer protection laws that apply to these transactions:
: Some lots advertise "no money down" or very low entry costs.
: Vehicles are usually older, high-mileage models, as the dealer must balance the risk of the loan with the value of the car. Pros and Cons of Virginia BHPH Lots Risks & Drawbacks
: Most BHPH cars in VA are sold without a warranty. You must look for the Federal Trade Commission (FTC) Buyer’s Guide in the window, which will state if the car has a warranty or is being sold "As-Is."
: If you default, Virginia law allows dealers to repossess the vehicle, but they must follow specific rules regarding the sale of the car and your personal property left inside. Essential Tips Before You Buy