buy here pay here

1. A slogan used by car dealerships (or in some cases furniture store) that regularly use predatory loan practices to entice low income earning or individuals with bad credit to enter into high interest rate loans (10% apr on the low end, usually in the neighborhood of 25%). They do this because they unfairly assume the applicants will not be able to pay the loan off so they attempt to extract as much interest as they can from the applicant.
These dealerships also prey heavily on junior enlisted servicemembers, as they know they can definetely have at least 1800 dollars a month they can spend on a car, and get paid regularly. They also rely on the fact that many junior enlisted "boots" make terrible financial decisions.

2. Can be used as a name for the actual store.

1. "Here at Bob's Used Auto Emporium we finance everyone! Good credit, bad credit, no credit we will get YOU in a ride today! Buy here pay here!"

2. Private First Class Jenkins, "Hey man check out this new Camaro I bought! 2015 v6 with 70k miles, only paid 15k!"

Jenkin's Squad leader, "JFC boot.... how much is the interest on it?"

Jenkins,"Ummm, like 23 percent I think?"

SL, "You went to one of those Buy Here Pay Here places didn't you?"

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