Since the Buy Here, Pay Here (BHPH), dealerships began operating, many myths about them have emerged. Some common myths surrounding buy here, pay here dealerships in Miami have been dispelled creatively – helpful hints.
Only those with low credit scores are eligible to buy from BHPH.
Contrary the popular misconception, people who have bad credit can still use BHPH shops. BHPH dealers are popular among customers with excellent credit due to the streamlined procedures and attention they provide.
2: BHPH only sells substandard vehicles
It is impossible that this is a myth. BHPH dealerships are not only trustworthy, but they also sell vehicles that have high mileage. BHPH showrooms thoroughly check the vehicles they sell to guarantee their safety and reliability.
The rates of financing at BHPH are very expensive.
BHPH loans are often more expensive than traditional financing options. However, this happens only occasionally. BHPH dealerships can work closely with customers to find a package of financing that suits their budget.
Dealers of BHPH do not send credit bureau reports.
The rumor that this is true, it’s not. Paying your BHPH loan on time will help your credit score because most BHPH dealerships report to the credit bureaus.
BHPH dealers don’t offer any warranties.
It is not entirely accurate. Although BHPH often sells older cars without warranties, some BHPH provide warranties or guarantees from other companies in order to offer buyers peace-of-mind.
6: BHPH dealer don’t have a care in the world about their clients
You can easily see that the reverse is true. BHPH dealerships have smaller staff sizes, which allows them to spend more time building relationships with customers. The dealerships provide individual attention to their clients throughout the car-buying and post-purchase process.
We can better appreciate the benefits that come with buying from a BHPH, like streamlined finance, individualized attention, and the ability to establish credit, by dispelling such illusions.