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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've been shopping for a car recently, or even just driven by a few used car lots, you've probably seen signs advertising, "Buy Here, Pay Here." But what exactly does that mean, and is it a ...
Buy here, pay here financing is an attractive solution for those looking to purchase a car with lower credit scores. Find out what you need to know about buy here, pay here dealerships.
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.
A used car, a pre-owned vehicle, or a secondhand car, is a vehicle that has previously had one or more retail owners. Used cars are sold through a variety of outlets, including franchise and independent car dealers , rental car companies, buy here pay here dealerships, leasing offices, auctions, and private party sales.
The 50 top-selling used cars in the United States. American car buyers continue to show their love for trucks in the used market, with trusty options like the Ford F-150, Chevrolet Silverado 1500 ...
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