BHPH means Buy Here Pay Here, referring to dealers who finance the vehicles they sell either themselves or through a related finance company. Other dealers sell vehicles financed by outside sources such as banks, credit unions, or other financial sources.
Dealers who use “Responsible BHPH Practices” report good and bad credit to the credit bureaus.
Dealers who use “Responsible BHPH Practices” accept multiple forms of payment, including but not limited to; debit cards by phone, check by phone, recurring payments by check, Western Union, Pay Near ME, Money Gram, or in person at the dealers location.
Dealers who use “Responsible BHPH Practices” provide a warranty, a vehicle service contract, or both. In general, a warranty will cover the customer’s car in case of major mechanical failure. A vehicle service contract may be purchased by the consumer and may cover longer periods of time. These products combined help the consumer with mechanical events and reduce loan failure.
Dealers who use “Responsible BHPH Practices” will insist a consumer test-drive the automobile.
Dealers who use “Responsible BHPH Practices” want to sell reliable transportation to informed consumers. They encourage the customer to have an inspection done by a third party qualified mechanic to help build the “Trust Factor” between the customer and the dealer.
Here are some items a consumer can look for to insure they are working with a dealer who use “Responsible BHPH Practices”: