A dealership is a type of car lot that provides in-house financing for used vehicles. Unlike traditional dealerships that send your loan application to third-party lenders like banks or credit unions, a BHPH dealer acts as both the seller and the lender . How It Works
While BHPH dealerships offer a lifeline for those needing transportation quickly, they come with significant trade-offs. What Is Buy Here, Pay Here Auto Financing? - Experian buy here pay here car dealership
: You often make payments directly to the dealership, sometimes in person, on a weekly or bi-weekly basis. A dealership is a type of car lot
: Many dealers install GPS trackers or "kill switches" (starter interrupt devices) to facilitate easier repossession if a payment is missed. Pros and Cons sometimes in person