what is buy-here pay-here company?

Buy-Here-Pay-Here (BHPH) companies specialize in selling cars to people with bad credit. They are often the only car dealers who will make loans to people with low credit scores and charge higher interest rates.

The BHPH name is a bit misleading because it doesn’t mean that you’re actually paying here; it means that you’re paying your loan off either in full or in part until you’re ready to pay it off.

Buy here pay here car dealers are car lots that cater to people with bad credit, no credit, or maybe even a bankruptcy on their credit reports.

Although these dealerships will give anyone with a heartbeat a car loan, buying one from one of these lots does involve a few additional hoops to jump through. In other words, most people won’t qualify for a buy here pay here car lot loan.

Buy Here Pay Here auto dealers are car dealers that let you make payments in installments. A Buy Here Pay Here dealer or dealership will normally require a down payment or deposit of 10-50% of the price of your car and you then pay the remaining balance over time.

If you are making good money, have a solid job history and good credit, you can get financing directly from the dealer instead of having to join a Buy Here Pay Here program.

Just be aware that you will need to pay in cash to avoid interest rates of 10% or more. You can also visit our best buy here pay here list of dealers in your state to get a better idea of what to look for in a Buy Here Pay Here dealer.

Buy Here Pay Here (BHPH) is an automotive term which refers to car dealerships that sell cars to customers who, because of bad credit or no credit, are unable to secure credit approval through conventional lending channels.

In a buy-here pay-here (BHPH) dealership, the customers can purchase a vehicle by paying cash or by securing financing. BHPH dealerships are dedicated to serving customers who may have financial difficulties: bad credit, bankruptcy, repossessions, or the inability to qualify for traditional auto loans.

BHPH dealerships have much lower overhead than traditional dealerships, so they can charge lower prices. They offer high-quality cars, at a price that is right for the customer.

Buy Here Pay Here car dealers are car dealerships which are specialized in selling cars to customers with bad credit history or no credit at all. These car dealers will take customer’s car as trade in, hold customer’s money until car is sold and repay them in installments.

Want to connect with dealers in united states?

Search here 3000+ dealers across united states.