05/13/2018
What does "Buy Here Pay Here" mean in the Automotive Industry?
Buy Here Pay Here (BHPH) refers to a method of running an automobile dealership in which dealers themselves extend credit to purchasers of automobiles.[1] Typically, purchasers of cars at BHPH dealerships have poor credit history, and loans have high interest rates.[1] BHPH can provide options for those unable to meet credit standards elsewhere.