In addition to your regular car sales business to accommodate customers who will not qualify for a car loan through their normal lenders. Then you can see that BHPH car dealers can come in all shapes and sizes. BHPH Car Dealer Inventory The small to medium sized BHPH car dealer is always looking for vehicles to sell in its lot. They go to auctions to buy cars, buy cars from private party vendors and also buy cars from new car dealerships that were swaps. They are very particular about the cars they buy because they have to pay in cash and they need dozens of cars to supply their lot and attract customers with a good selection. null New car dealers who have a Buy Here Department Pay Here they usually sell their quality exchanges in their BHPH division. It makes sense to sell their markets with internal financing because they have a constant source of vehicles at their disposal and can avoid buying cars from the auction which is a time-consuming activity to find quality cars. No matter where they get their vehicles, they are very careful to make sure they only offer healthy and reliable cars because they will be financing their customers' purchases. If they were to sell junkers and beaters to their customers, they have the possibility that buyers do not make their payments. So if customers do not pay they will have to recover the cars and then they are stuck in vehicles that cannot be sold because they are garbage. Then you can see why they are very particular about the cars they sell and finance at their paid car dealership here. The process at the car dealership Buy here pay here The first step in the process of buying a car when buying here is paid here. It is to see if the buyer can qualify for internal financing. Some distributors throw the consumer credit report and others do not, one of the main concerns is the income and stability of that income of the buyer along with the place to live. The owner of the BHPH lot is looking for a person who has an income that can service the automatic loan weekly or biweekly and how long they have been at work. These aspects are often more important than previous repositions or bankruptcies. null Once they qualify for internal financing, they will discuss the terms of the car loan. including the down payment, the number of payments, the interest rate and when and where the car payments will be made along with the form of payment that could be cash or current account debit. The price is important, but the customer is generally more concerned with the payment. Selection of vehicles in Buy Here Pay Here Lots
Then it is time for the customer to select a vehicle from the dealer.