What are the Most Common Myths About Buy Here Pay Here Car Dealers?

November 12th, 2021 by

2014 Chevy Equinox

Buy here, pay here dealers are used car dealers that offer on-site auto financing. BHPH dealers usually have less strict qualifications and easier approval requirements than other dealerships that arrange financing through traditional banks and lenders. However, a lot of people are wary about Buy Here Pay Here dealers. What should you know about BHPH dealers?

Myth: Buy Here Pay Here Car Dealers Only Sell Low-Quality Used Cars

Fact: The reality is that BHPH dealers are like any other business. They want you to have a great experience, so you come back when you need to buy your next vehicle. Because of this, you can count on CarHop to sell you a quality vehicle. We even provide a free AutoCheck vehicle history report.

Myth: You Will Only Be Approved for a High Car Payment

Fact: Most lenders offer applicants with a lower credit score a higher interest rate. This can increase your monthly payment, but the payment may not be as high as you might assume. CarHop works with customers to develop payment plans that fit their budget. The best way to determine how affordable it could be to buy your next used car from CarHop is to start your approval online today.

Myth: You Don’t Get a Warranty When You Buy a Car from a Buy Here Pay Here Car Dealership

Fact: Some buy here, pay here dealerships don’t offer warranties, but that’s not the case at CarHop. We stand behind the quality of the vehicles we sell and include an 18-month/18,000-mile limited warranty. Our team can tell you more about the included warranty coverage when you stop by for a test drive.

Myth: Buy Here Pay Here Dealers Don’t Have to Follow Any Rules

Fact: Like all car dealerships, BHPH dealers have to follow the rules set in place to protect car buyers. These include usury laws, deceptive practices laws, privacy laws, the Used Car Rule, the Truth in Lending Act, and more.

Contact CarHop Today

If you’ve been turned down for a car loan at a bank or credit union, CarHop has financing options that may be able to help.

At CarHop, we want to help you get into a quality used car. To learn more about our models and about the financing options we offer, contact our team today.