Buy Here Pay Here Richland
If you are in the market for a car and you are in Richland, Washington looking around for an automobile, you may have come across some discussion about “BHPH” car dealers. In the auto sales industry, BHPH stands for “Buy Here Pay Here”. So, what are BHPH auto dealers?
These are car dealerships in Richland, WA that specialize in in-house financing of auto purchases. Basically, you buy the car from the dealership and finance your purchase at the same dealership. The auto loan that you take out is paid directly to the car dealership, not to any bank or financial institution. So, you buy your car and pay for your car at the same place.
When you see phrases like “Financing Available”, that means the BHPH option is mostly likely offered. More and more dealerships are offering to finance purchases because they see mutual benefits for the dealership and for the buyer.
For the Richland dealership, they can sell more cars because they are making the sale more attractive and convenient to potential buyers. For the buyer, there are multiple advantages.
First, if the car buyer has poor credit and does not qualify for a car loan at an financial institution, dealer financing may be the only option left. With Buy Here Pay Here, the buyer can choose the car that he wants and be able to make payments that he can afford to the dealer directly.
The other benefit is that when the car buyer continues to make payments on time to the dealership, he can gradually improve his credit history if the dealership reports this positive activity to the credit agencies. This is something that the car buyer should discuss with the dealer.
Some BHPH dealerships are more lenient about taking trade-ins. They tend to see the value of extending the usability of a vehicle. So, if you have an old car that still runs perfectly, the BHPH dealership can probably find a buyer for it.
What are BHPH auto dealers’ differences compared to conventional car dealerships? This would relate to the shopping experience of the buyer. In a typical car dealership, the shopper looks around, test drives a model or two, chooses the car he wants, then talks money matters with the dealer. In a buy here pay here car dealership, the shopping experience usually begins with a discussion about credit and the ability to pay. A credit report may be run on the buyer’s history. The dealer reviews the individual’s financial position. Affordability will be discussed, and the buyer is presented with car models that fit the buyer’s financial picture.
Now that you know what are BHPH auto dealers, you can make an informed decision and get the best loan possible for your needs. For a lot of people who have difficulties with their credit, buying from a specialized lender like this may be the only choice. It is good to know that even if you are turned down for a loan at other places, our BHPH car dealers are willing to take the risk and finance your purchase of the car that you want. Apply today and get approved from a local Richland dealer within 60 seconds!