You so have your sights fixed on a fantastic pair of wheels. The beating in your heart, picture those weekend trips, wind in your hair. But what exactly is that? Classic vehicle financing turned you down? So, relax! Allow me to present the universe of “Buy Here Pay Here” (BHPH). Sounds something like those distinctive TV advertising, doesn’t it?
BHPH dealerships are like the friend who always keeps your back covered. They rely less on outside lenders since they provide in-house funding. Credit is less than perfect. Not worried. They contain your number. For those who have had a few credit road bumps, it’s like shopping and banking combined into one – a one-stop shop.
Here’s where it gets more difficult than a cat in a room filled with rocking rockers, though. Sometimes the interest rates with BHPH cause your eyebrows to fly upward. Visualize heavens. Also, cars with a little more “character” sometimes replace elegant technologies and newest models. You’re getting warmer if you can visualize that reliable vintage automobile with little miles under its belt.
Making payments is simpler than running through a marathon of reruns. Usually weekly or bi-weekly, payments are made; some dealerships want you to make these payments in person. Always longed to be a frequent visitor to your neighborhood car showroom? Your chance is right here now. Remember, though, should you neglect your payments, a pleasant reminder—or even a snatch-back visit—may come in very handy.
But for whom is BHPH actually meant? These are the people who believe the banking system has handed them the short end of the stick. Maybe you really need a car for employment, school, or maybe just the freedom to explore. Whatever the motivation, BHPH is a good, albeit occasionally difficult substitute.
Read the tiny print as with any offer that appears too good—or too interesting—to be true. Ask questions, delve deeply into the phrases, don your most dubious hat, and perhaps bring a close friend along for moral support. A head-scratcher or a lifesaver, BHPH can be Either way, you should give this some thought.
Is BHPH then the ancient jalopy with a fresh coat of paint or the knight in dazzling armor? Only you will make decisions. Good vehicle hunting; perhaps, the horsepower will be with you.