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In the United States, a car dealership is a business that sells cars. A car dealership can either be a franchised dealership selling new and used cars, or a used car dealership, selling only used cars. In most cases, dealerships provide car maintenance and repair services as well as trade-in, leasing, and financing options for customers.
In the used car market in the United States and Canada, buy here, pay here, often abbreviated as BHPH, refers to a method of running an automobile dealership in which dealers themselves extend credit to purchasers of automobiles. [1] Typically, purchasers of cars at BHPH dealerships have poor credit history, and loans have high interest rates. [1]
Most car dealerships do not pay cash for the vehicles they buy at auto auctions. [23] They rely on inventory financing, a line of credit extended by a bank or other institution to acquire vehicles. [24] This is known in industry parlance as floorplanning (floor planning) or simply "flooring" vehicle inventory. [25]
While CarMax stores focus on marketing used vehicles, the company acquired its first new car franchise with Chrysler Corporation in 1996. [4] By 1999, it added new vehicle franchises for Mitsubishi Motors, Toyota, and Nissan. [5] In late 2021, CarMax sold its last new vehicle dealership, located in Kenosha, Wisconsin, to the Rydell Company. [6]
Nissan North America, Inc., doing business as Nissan USA, is the North American headquarters, and a wholly owned subsidiary of Nissan Motor Corporation of Japan.The company manufactures and sells Nissan and Infiniti brand cars, sport utility vehicles and pickup trucks through a network of approximately 1,082 Nissan and 211 Infiniti dealers in the United States, including 187 independent Nissan ...
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