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Buy Here Pay Here – What is this?

Buy Here Pay Here – What is this?

Buy Here Pay Here (BHPH) car lots distinguish themselves from other used car lots because BHPH dealerships offer on-site financing.

If you have bad credit, no credit, or in bankruptcy, you may find BHPH dealerships to be your best option. Even if you have good credit or don’t need financing, BHPH dealerships offer great deals on certified pre-owned vehicles.

While “buy here pay here” financing may be your only way to obtain a vehicle of your own. Make sure you do your due diligence and make an educated decision beforehand.

Buy Here Pay Here lots have to abide by stricter laws since they are also effectively a finance company. Any BHPH lot that does not follow state and federal rules and regulations will not be in business for very long.

For example, all BHPH dealerships will have to follow the Truth in Lending Act (TILA). This requires the dealer/financier to disclose the final cash price. In addition to other necessary information for the consumer to shop and compare.

Other laws and regulations include the Fair & Accurate Credit Transaction Act, State Usury laws, and the Fair Debt Collections Practices Act.

 

Buy Here Pay Here Pros

The first obvious advantage of BHPH dealerships is the ability to purchase and pay. Instead of getting an auto loan from a bank or another third party, you’ll be able to get everything done at the dealership.

Often, your BHPH dealer will be able to match up your pay dates with your job to make it as easy as possible to make payments on time and build up your credit score.

 

 

48-Hour Return Policy

When you buy from a private seller, you give up the chance to return the vehicle if you aren’t satisfied (along with a host of other buyer securities). When you buy a car from a BHPH car lot on the other hand, you are given a short return period to drive and test your purchase.

48 hours should give you enough time to drive your new vehicle through a variety of road conditions and even compare it with other cars and deals. There is absolutely no obligation to accept the offer if you are within the 48-hour timeframe.

 

 

Free CarFax Report

Another advantage of going with a BHPH dealership is access to free CarFax reports on all vehicles.

Certified Pre-Owned Vehicles and Thorough Inspections

A certified pre-owned car is one that has undergone a full inspection and any necessary repairs as specified by the automaker. CPO vehicles are often in “like-new” condition. They may cost more, but often come with additional warranties and roadside assistance (like our 6 Month/6000 Mile Powertrain Warranty), one of the main reasons why it’s a smart idea to buy from a BHPH dealership.

We are able to inspect, fix, and test all of the cars on our lot because we have all of our services on-site. We control the quality levels and meticulously recondition the vehicles to ensure we meet, and hopefully exceed, all of your expectations.

 

Quick and Easy Process

All BHPH vehicles are normally in a database. BHPH dealers may also be able to work with you to clear any existing loans you may have taken out.

We make the car buying process easy. You can get started without even leaving your couch:

  1. Get Pre-Approved Online
  2. Search Online Inventory
  3. We Help You Find the Right Vehicle
  4. Drive It Using Our Private Track for Test Driving
  5. Buy with Confidence (See: Customer Confidence Program)

Although you may have to sign on a dotted line or two, all the paperwork is typically handled by the dealership. Most of our customers are able to drive away in their dream car the very same day.

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