BHPH car dealer experiences?

[measureman]

Many years ago I bought a car from a dealer that had their own finance company just to finance the mutts.
I was a mutt at that time.
Mutt financing is the term used for those with bad credit.
A job and a heartbeat was all that was needed to buy a car.
Every car on the lot had a large black star decal on the lower part of the rear bumper plus a GPS unit hidden somewhere on the car.
The GPS was used to locate the car and the big star was to zero in on it for the repo guy.
The only plus this dealer had was they had their own repair shop and would fix the financed cars very cheap or add the repairs onto the loan.

 

[0W-16]

Many years ago I bought a car from a dealer that had their own finance company just to finance the mutts.
I was a mutt at that time.
Mutt financing is the term used for those with bad credit.
A job and a heartbeat was all that was needed to buy a car.
Every car on the lot had a large black star decal on the lower part of the rear bumper plus a GPS unit hidden somewhere on the car.
The GPS was used to locate the car and the big star was to zero in on it for the repo guy.
The only plus this dealer had was they had their own repair shop and would fix the financed cars very cheap or add the repairs onto the loan.

I've heard some BHPH lots will have an immobilizer built into the car so if you don't make your payment on time, they shut off your car. How wide spread is this practice?

 

[TiGeo]

The pay day lenders of the auto dealer world. Unfortunate as aquiring a loan from your bank even for a crappy rate and buying a car from an individual is a much better deal for most.

 

[measureman]

I've heard some BHPH lots will have an immobilizer built into the car so if you don't make your payment on time, they shut off your car. How wide spread is this practice?

Forgot to put that in my post,yes the cars had that also.
There's a reason most people are mutts,irresponsible.

 

[kschachn]

I've heard that many BHPH lots won't take cash for a car. You have to use their financing.

But is it true? Did you call and ask?

 

[measureman]

But is it true? Did you call and ask?

Back in the '70's I sold cars at a couple new car dealerships and a couple BHPH lots.
At both types if there was a profit it didn't matter how the buyer was paying that car rolled off the lot.
Of course back then there was a huge supply of new and used cars.
But that was a long time ago.

 

[fisher83]

I bought a 1989 Ford Tempo for my then girlfriend at one of those places when I was young and dumb (and broke). Had it for two days and brought it back with a slipping transmission and a failing alternator. Lost our down payment of $600 which was pretty painful at the time. Still have the girl though! Married for 18 years now!

 

[eljefino]

In 1997 my cheap parents decided that my younger sister deserved a first car because she was just so good and she had lacrosse practice after school and they could save ten percent on her insurance blah blah blah.

They found this amazing beater dealer named "Framingham Auto City." They had cars for as low as $250 that would pass state inspection! The dealer lined them up in order of price and the cheapest heap was a 1982-ish Delta 88 with a flat tire, dented rim and a can of fix-a-flat on the hood. My parents were no fools so they spent $900 on a 1988 Nissan Sentra with a giant rust stain descending the driver's door. There was apparently no other rust. 150k, they had their mechanic do a timing belt (preventative) and a steering u-joint. Car performed admirably for a year then they sold it to someone at church for what they had in it, so, free car for a year.

It had 2 doors, vinyl seats and a 4-speed transmission. Ultimate stripper model and light years ahead in quality compared to what we can buy today.

 

[Bird's_Garage]

I was looking for a car a few months ago. Saw some decent looking cars at a BHPH and looked at them. The salesman had a look of disgust on his face when I asked the cash price on a couple of them. "Why would you want to pay cash? We finance all our cars!" He tried the "$200 biweekly" a couple times then finally gave an astronomical cash price, something near double what the same car goes for anywhere else. When I laughed at it he said, (and this is a direct quote) "That's how much we'd make on it if we financed it, so that's the cash price."

So yea, that's my experience. I don't plan to venture into the lot of such a slimy enterprise in the future.

 

[aquariuscsm]

I've seen many a rare creampuff on tote the note lots.