Specialized Financing: Buy here pay here (BHPH) car lots offer specialized financing directly from the dealership, often without the need for external lenders.
No Credit Check Requirement: One distinctive feature is the absence of stringent credit checks, making it accessible for individuals with limited or no credit history.
In-House Financing: BHPH lots provide in-house financing, meaning the dealership acts as both the seller and the financier, simplifying the purchasing process.
Accessible for All Credit Types: Whether you have good, bad, or no credit, buy here pay here car lots cater to a diverse range of credit profiles.
Approval Based on Income: Instead of focusing solely on credit history, BHPH approvals are often based on the buyer's ability to make regular payments, typically determined by income.
Quick and Convenient Process: Bypassing traditional lenders speeds up the buying process, allowing customers to select, finance, and drive away in a car from the same location.
Flexible Payment Options: BHPH lots usually offer flexible payment terms, allowing buyers to make weekly or bi-weekly payments that align with their financial situation.
Build Credit with On-Time Payments: Some BHPH dealerships may report on-time payments to credit bureaus, providing an opportunity for buyers to build or improve their credit over time.
Wide Range of Vehicle Options: Despite credit history, buyers often have access to a variety of used cars, providing choices that suit their preferences and needs.