Demand for Lots of Buy-Here/Pay-Here Cars

Modern life is plagued by high unemployment rates, high inflation, and a depreciated currency. Behind each fiscal disaster is a household or individual with nearly zero credit and ruinous credit. These households often have to rely on unemployment benefit, weekly payments and public assistance (or all three) to survive for the week. There is little left to save – visit us.

The BHPH Model is designed for people who have been disadvantaged by a poor economy. These car sellers can sell cars to customers with poor credit and limited cash. But the trade-off is high interest rates. Sub-standard cars are available, as well as unreliable collection actions against car owners who default on weekly payments. These businesses provide transportation for modern life but are often criticized by the public as being exploitative.

Analysts recommend that the BHPH marketplace be viewed as a finance market and not an auto market. These companies tend to be preoccupied by collecting payments on high-interest loans. Those who can’t pay for their vehicle will lose it. This means that the burden is on the poor who already have a hard time paying the exorbitant interest rates of BHPH sellers.

A typical car-buying procedure allows shoppers to choose the car they want, then talk about financing options. Before showing potential buyers the cars they may be able to purchase, BHPH dealerships often discuss credit history and down payments. BHPH buyers will often be required to physically report at the dealership once they have selected their car. Late payments are often repossessed.

The buyer may be subject to additional terms, which can make the BHPH experience much worse. Some dealers also equip their cars with tracking devices that automatically turn the cars off if they are not paid in full. This can leave drivers stuck in unexpected places and without a way to get home, or safety.

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