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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.
In 1947, partnering with Matt Slap, he opened a Lincoln-Mercury dealership in Northeast Philadelphia. [1] The store floundered and after discovering that the large Jewish population in the area avoided purchasing Ford cars due to the anti-Semitism associated with Henry Ford, he persuaded Israel's first president, Chaim Weizman, to accept a Lincoln as a gift in 1948 during a public event in New ...
After nearly a year of waiting, Amazon users can now buy a Hyundai vehicle through the online retailer.Starting today, Amazon car shoppers in 48 cities, including New York, Los Angeles, and ...
Typical car dealership (in this case a Jeep dealer) in the U.S. selling used cars outside, new cars in the showroom, as well as a vehicle entrance to the parts and service area in the back of the building An aerial view of auto dealer's service in Kuopio, Finland Service and repair entrance Auto dealer's service and repair facility Dealer for vintage cars
On average, a CarMax location employs 40 sales associates. Each car goes through a thorough 125-point inspection process, beyond any state-required inspections, and includes a 90-day warranty, three days to change the financing for free, and, 10-day money-back guarantee (reduced in 2024 from a 30-day money-back guarantee). [10] [11]
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