BHPH car dealer experiences?
- Thread starter 0W-16
- Start date
What's a bhph?
Buy here, pay here. People with zero credit.
You'd be surprised. Many guys that pretend to be wealthy have crappy credit.
That's a pretty snarky 8th post.
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Nothing snarky. It's a fact. And what does only having eight posts have to do with anything?
While you're correct I think you missed the point. Many here wouldn't walk onto a BHPH lot, much less buy from there. Less than stellar vehicles & maintenance history, plus few here could stomach the money spent on financing at a BHPH. Lousy deals typically, the sort of thing BITOG tends to avoid.
There aren't many here pretending to be wealthy. What prompted you to propose the question?
The BHPH business model involves selling the same car over and over again. They like cars that run, but not that well, so when the car breaks down the buyer will quit paying then they can take it back patch it up and sell it again for full price to the next guy.
I have heard of people seeing a car on a BHPH lot and negotiating a decent price to get it for cash. That was before car prices went crazy though.
I have heard of people seeing a car on a BHPH lot and negotiating a decent price to get it for cash. That was before car prices went crazy though.
Many years ago (maybe over 20 years ago? Late 90's i think) I bought a Ford Ranger from a Buy here, Pay here lot. I had garbage credit, but I had finally got a decent paying job and needed a vehicle that wasn't junk. I knew I was being ripped off, I paid thousands more than the truck was worth. The interest rate made me want to puke. But I was able to get back and forth to work and the stealership fixed any issues the truck had under their warranty.
I paid it off in a year and kept driving it. It was actually pretty fun to drive, 4.0 V6 and a manual transmission. I traded it in a few years later.
Anyway, I'm glad I don't have to go through that again. In retrospect I could have found plenty of reliable vehicles for cheap in my area, but I didn't have the time or even the knowledge yet to look for one.
I paid it off in a year and kept driving it. It was actually pretty fun to drive, 4.0 V6 and a manual transmission. I traded it in a few years later.
Anyway, I'm glad I don't have to go through that again. In retrospect I could have found plenty of reliable vehicles for cheap in my area, but I didn't have the time or even the knowledge yet to look for one.
I've heard that many BHPH lots won't take cash for a car. You have to use their financing.
AZjeff
$50 Site Donor 2023
Are you looking for advice? Or have a buying experience to share?
That's because that's where they make the money!
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Correct , wealthy people have crappy credit because they don’t borrow money , use debit cards etc so they have no credit rating .
Since she just bought it, I'd take it back and get another car.
