Just what is Buy-Here Pay-Here, anyway?

Many of you have heard the term, "Buy-here, Pay-Here", before. It generally indicates a car dealership that is specifcally set up to deal with people who have credit issues. Either bruised credit, bad credit or no credit at all. Despite being the fastest growing segment in the auto sales industry, there's not an official definition for Buy-Here Pay-Here (sometimes called BHPH)in the dictionary. Buy Here Pay Here (BHPH) financing means that you arrange a loan and make payments on it at the dealership. You purchase the car through what's referred to as in-house financing versus through a third party, such as a bank. Instead of making monthly payments to a traditional lender, you make weekly or bi-weekly payments at the dealership. You therefore "buy" the car at the dealership and "pay" on the loan at the dealership.

Express Auto is a BHPH dealership we work with our customers to try and get them into cars they can afford and pay for. For more information on our program, contact any of our three locations in southwest michigan toll free -- 1-888-870-7250.