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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]
Online auto auctions are also growing in popularity. One of the most popular online auctions to buy cars from is eBay Motors. [13] On eBay Motors, any user can create an account and put their vehicle(s) up for auction even if they are from a state that only allows closed auctions. There is usually a fee associated with selling a vehicle on eBay ...
Buying a car at auction requires a whole new set of rules and things to watch out for, whether it's a government or law-enforcement auction or one with vintage and high-end cars meant for collectors.
Lemon law protection arises under state law, with every U.S. state and the District of Columbia having its own lemon law. [1] Although the exact criteria vary by state, new vehicle lemon laws require that an auto manufacturer repurchase a vehicle that has a significant defect that the manufacturer is unable to repair within a reasonable amount of time. [2]
The Basics of Buying a Used Car From a Private Party. Some risk is always involved in buying a used car from a private party because you don’t have as much recourse if the car turns out to be a ...
Some auction systems allow buyers to end an auction early by paying a predetermined final price for the item (generally substantially more than the minimum opening bid). This may discourage some sniping because another bidder can simply purchase the item outright while the sniper is waiting for the auction end time, even if a successful snipe ...
Buying a brand new car today requires some additional considerations. New vehicle average transaction prices (ATPs) are still near record highs, at $47,936 in October 2023, according to Kelley ...
An auto auction can be an inexpensive way to get a lightly used car or a nerve-wracking, resource-depleting means of buying the rare vehicle of your dreams. In either case, it's never dull and it ...