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What is Buy Here Pay Here?

You might have heard of Buy Here Pay Here, but you might not know what it means. Plenty car buyers don’t, which is a shame since Buy Here Pay Here car lots:

  • Can provide vehicle financing when traditional lenders won’t.
  • Can work with you regardless of credit history.
  • Can help you build a stronger credit score.
  • Can simplify your car-buying process.

Interested? Here’s how Buy Here Pay Here works, along with a look at some of the most attractive benefits it can provide.

How Does Buy Here Pay Here Work?

The Buy Here Pay Here (BHPH) model isn’t too different from standard financing at other used vehicle dealerships.

Very few of us can afford to buy a car with cash, so we borrow through third-party lenders — often banks or credit unions.

If you’ve suffered from poor credit history or no credit to speak of, such institutions may be unwilling to take a chance on you. BHPH cuts out the middle man by financing through the dealership. It’s a one-stop shopping process that can get you behind the wheel.

You’ll usually need:

  • An Address
  • A Steady Income

That’s it. Remember: pre-owned vehicle dealers are motivated to sell their vehicles and develop an ongoing relationship with new customers — here’s a way to work that to your favor.

The Benefits of Buy Here Pay Here

The most obvious benefit of BHPH financing is the freedom that comes with your own set of wheels. When you’re denied a vehicle because of your credit elsewhere, you could be left relying on public transportation. BHPH prevents that from happening.

Further benefits include:

  • Repairs Your Credit History: Loans are often designed help repair your credit history, so you’ll enjoy a stronger array of choices in the future as long as you make your payments on time.
  • Easier Trade-Ins: Most BHPH lots will be wiling to take older vehicles in for trade to supplement a down payment.
  • Convenient Process: BHPH dealers help define your budget before you start shopping, avoiding the nuisance of constantly asking yourself “can I afford this?”

CarHop sweetens the deal with our own set of incentives:

  • 7-Day Money Back Guarantee*
  • Fixed Interest Rates
  • 18-Month/18,000-Mile Limited Warranty**
  • Complimentary AutoCheck Vehicle History Report***
  • Credit Reporting to the Three Major Credit Reporting Agencies Every Month
  • Multiple Payment Options

Buy Here Pay Here Can Help When Others Can’t or Won’t

Don’t accept defeat if you’ve been turned down for financing in the past. Instead, take advantage of the competitive Buy Here Pay Here concept, no matter your credit history or current credit situation. Visit your closest CarHop location to find out more.


* See dealer for details.

** See dealer for copy of limited warranty.

*** AutoCheck reports are provided for informational purposes only.

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