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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]
If you're in the market for a car and your credit history is shaky or worse, you'll see plenty of dealerships with signs proclaiming "no credit, no problem," "buy here, pay here," "no credit check
Bad credit loans are offered by banks, credit unions, online lenders and through dealers. ... However, the cost of your loan may be far lower with a bank, credit union or online lender than with a ...
By 1997, Farr had expanded his Mel Farr Auto Group to 14 auto dealerships in five states (Michigan, Ohio, New Jersey, Maryland, and Texas) with annual sales in excess of $500 million. [ 31 ] [ 34 ] By 1998, Farr's dealership group grossed $596.6 million, making it the top black-owned business in the United States and the 33rd largest auto ...
After a change of political leadership in Michigan's executive branch, on January 22, 2020, Tesla and the state of Michigan agreed to settle Tesla's 2016 federal lawsuit against the state for unfair vehicle sales and service restrictions. The agreement allows Tesla to sell and service cars within the state.
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