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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]
On site at the main garage is an extensive array of customized cars which can be bought direct from the garage. GAS's work could also be seen on the 2008-2009 television show Knight Rider . They were asked to create the star of the show, a new version of the 2008 Ford Mustang called the GT500KR .
With the average used car selling for $26,717 and the average buyer paying 11.4% interest for the privilege of financing it, previously owned vehicles are hardly the bargain they once were.
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 ...
Casa de Cadillac opened in 1950 at 14401 Ventura Boulevard and has operated continuously in the same facility since that time. The dealership originally opened in 1949 as Don Lee Motors which was part of the Don Lee organization that operated Cadillac dealerships throughout the state of California, including major cities such as Fresno, Sacramento, Oakland, San Francisco, Pasadena, and Los ...
Today, the Cerritos Auto Square provides the city of Cerritos with approximately $12 million a year in sales tax, and is its single largest source of revenue. In 2006, the Auto Square sold 48,241 automobiles, totaling over $1.1 billion in sales, or half of the total retail sales in the city.
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