Buy Here Pay Here

What Exactly is a BUY HERE PAY HERE Dealership?

With Buy Here Pay Here (BHPH) dealerships the dealer acts as both the seller and the lender by offering in house financing on the vehicles on their lot. Less than stellar credit? What about no credit? BHPH dealers specialize in working with customers like this.

How do BHPH, pay-here financing actually work?

When buying a vehicle at a typical dealership, you walk in, select the car you want and the dealership then passes your information to a third party lender. If the “third party” lender approves you for the car loan, you make monthly payments to the lender for the length of the vehicle contract 36, 60 or 72.

When it comes to a BHPH, these dealerships sell and finance cars straight off their lots. Usually they will ask you to verify your income, proof of residence, pay stubs, and much more depending on your financial situation. Credit at these dealerships is not an issue. Once the dealership figures out the loan amount you qualify for they will show only the vehicles in your price range. The price range is typically based on how much you are willing to put down, how much you can afford per month, and your current monthly income.

  • No credit, bad credit you typically get approved
  • Can build credit with small monthly payments and they will be sent to the credit bureau
  • Have repos or bankruptcy, you will be approved most times
  • Straight forward buying process