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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]
In the business, such dealers are called "Buy Here Pay Here" dealerships. These stores can make loans directly to customers because they have some means of recovering the vehicle if the customer defaults on the loan. The means by which "Buy Here Pay Here" dealers can recover a vehicle vary by state. Most dealers utilize indirect lenders.
It happened after they had the car for several months. The latest incident started after an Olathe man purchased a 2015 Lincoln MKX for his daughter from CarNation in Feb. 2023. He paid about $12,400.
Captives have a smaller share of the overall car financing market (new and used cars), along with banks, credit unions, and finance companies. A small number of cars are financed directly by the dealership at "Buy Here Pay Here" dealers, which cater to customers with subprime credit. Buy Here Pay Here financing accounts for 6% of the total ...
Around 2 miles of downtown Wichita streets will be blocked off this Saturday for one of the largest car shows in Kansas. The 28th Automobilia Moonlight Charity Car Show and Street Party will ...
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