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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 2005, Carlson acquired 25% of Rezidor Hotel Group, a business partner of the hotel division in the Europe, the Middle East and Africa (EMEA) markets. Rezidor became a subsidiary of the Carlson hotel group in 2010, despite retaining its listing status. The hotel group rebranded as Carlson Rezidor Hotel Group in January 2012. [19]
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.
The company's headquarters, as well as the headquarters of the owner, Radisson Hospitality, Inc., were located in Minnetonka, Minnesota, a suburb of Minneapolis, the city where the first Radisson Hotel was built. In the 1990s, American-Russian businessman Paul Tatum was murdered after a series of disagreements over the Radisson Hotel in Moscow ...
The number of car dealerships in the US peaked in 1927 at 53,125 and steadily decreased over the next decades. By 1960, there were 33, 658 dealerships; by 1980, 23,379; and by 2001, 22,007. [1] Car dealerships are usually franchised to sell and service vehicles by specific companies.
Logo of Carlson Rezidor Hotel Group. Rezidor Hotel Group, formerly Rezidor SAS, became a listed company in 2006. [16]: 380 [17] [18] SAS Group ceased to be the shareholder of Rezidor Hotel Group in 2007, [16]: 380 [19] while Carlson, a significant shareholder of Rezidor SAS since 2005, became the parent company of Rezidor Hotel Group in 2010.
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The Pan Motor Company Office and Sheet Metal Works are the two surviving buildings of a former motor vehicle manufacturing complex in St. Cloud, Minnesota, United States. They were built from 1919 to 1920 for Samuel Pandolfo 's Pan Motor Company , which produced about 750 vehicles between 1917 and its failure in 1922.
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