Buy here pay here (BHPH) dealerships are car lots that finance auto loans in house. Since car buyers with poor credit often find it difficult to get approved for an auto loan, they may find themselves looking into a BHPH dealership.
Different from traditional dealers, BHPH dealerships finance their vehicles in house. This means that the process of buying a car and taking out a loan is done under one roof. BHPH dealers typically aren't affiliated with banks, credit unions, or third-party lenders. To get approved for financing, you'll need to visit a BHPH dealer in person.
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If you're still on the fence about financing through a BHPH car lot, you should know that even though you may not be able to improve your credit, there are two big benefits to these types of dealers:
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What is the best way to increase your FICO score? If you have a parent, son or daughter, ask them to add you as an authorized user on a credit card account they have.
Your credit score is important. If you want to improve your bad credit score, this video from the credit experts at Auto Credit Express will show you how.
Buy here pay here dealers are different than traditional dealerships, and can be helpful for people who are struggling with credit issues. BHPH dealerships can be a great option if you've been turned down for a traditional or subprime car loan, and you typically don't have to wait long for an approval if you find it to be the best choice for you.
You can trade in a buy here pay here vehicle much like if you had financed it from a bank, credit union, or other lending company, but how this process works depends on what you still owe on the loan compared to your car's value.
Looking to get an auto loan in Dallas? Many dealerships will offer bad credit financing in the area, but they can be hard to get in touch with without our help.
Working with buy here pay here car lots in Denver, Colorado offers you more options when it comes to buying a new car specifically those with bad credit scores
Sacramento residents that may have damaged credit think that they can not get approved for bad credit car loans, but you can through buy here pay here car lots.
When you need to purchase a vehicle in the Dallas-Ft. Wroth area and think that your credit will not support it, think again and try buy here pay here dealerships.