(803) 806-7878

5001 Two Notch RD
Columbia, SC 29204

(704) 545-1213

13134 Albemarle Rd
Mint Hill, NC 28227

Buy Here, Pay Here Dealers Matter

Buy Here, Pay Here Dealers Matter

Buy Here, Pay Here Dealers Matter


How many times have you driven past a ‘Buy Here, Pay Here’ auto dealer and thought to yourself, “yeah right?”  Probably quite a few times, huh!?  Well, there’s an old saying; “Don’t knock it before you try it”—heard that one, right?  Within the last 5 years, Buy Here, Pay Here dealers have become the “go-to” source for used car shoppers.  Due to a growing clientele, BHPH auto dealers have also experienced a significant rise in profits.  A majority of the car-buying population and experts believe BHPH dealers and lots are ‘rip-offs’ and an abomination to the automotive sales industry due to the lack of quality vehicles, high interest rates, and bi-weekly payments.  Despite popular belief, Buy Here, Pay Here dealers can actually be quite beneficial, so before we ‘knock-it’, let’s take a look at why we should ‘try-it’.


Aids  Credit-and-Financially-Challenged  Consumers

Perhaps the biggest reason Buy Here, Pay Here dealerships are experiencing a growth spurt is because they go above and beyond to cater to the ‘challenged’ consumer.  BHPH dealers exclusively target the credit-challenged and financially-challenged consumer market.  These are the consumers with ‘less-than-perfect-credit’ for whatever reasons; maybe they have a withstanding repo or below-average credit score.  These consumers are usually the 9-to-5ers that work and live paycheck-to-paycheck, desperately fighting to stay afloat, and trying to stretch every hard-earned dollar as far as they could.  By the time these consumers find their way to a Buy Here, Pay Here dealer; they’ve already been declined, denied, laughed-at, and shooed away by the big-name dealers, and often feel that they’re out of options or that no one can or will help them.  BHPH dealers openly welcome these consumers, and in most cases, are able to find a dependable used car for the buyer.



Lower  Down  Payments

Another great reason for choosing to purchase a car from a Buy Here, Pay Here dealer is that they typically have lower down payments, which allows you, the consumer, to get into your new, used car just a little bit faster.  The average, or major car dealership usually requires a minimum of $1500 or more as a down payment—sometimes this is even with a ‘trade-in’.  The average BHPH dealer only requires approximately $500 to $1000; with the $1000 requirement only necessary in rare cases.  Many BHPH will even ‘hold’ a car for you with only a $100 security deposit, which can later be applied towards your $500 down payment—not bad, huh!?


In-House  Financing  &  Payments

Now, this is the reason Buy Here, Pay Here dealers are called, ‘Buy Here, Pay Here’, and perhaps the primary reason for their increasing clientele.  Unlike the major auto dealers; Chevy, Toyota, Ford, GMC; just to name a few, BHPH dealers have their own, on-site financing department and doesn’t require mediation with a 3rd-Party lender.  This enables them to make their own terms which cater specifically to each individual consumer’s needs.  There is a slight downside to this; most BHPH dealers require bi-weekly payments instead of monthly payments like their big-name counterparts.  This is the reason many critics argue that Buy Here, Pay Here car lots are a rip-off because you pay twice a month for a car that is ‘allegedly’ not worth it.  Seemingly, what they fail to realize this is the norm for any industry that offers assistance to credit and financially challenged consumers.  Last time we checked—the credit card industry does the same thing—do they not have higher interest rates for ‘high-risk’ account holders?  Slightly higher payments are common knowledge among BHPH customers.


The  Bottom  Line

The bottom line is this—Buy Here, Pay Here dealers are doing better in sales and demand than their big-name rivalries because they are home to the ‘troubled-consumer’ market that no one else wants—which just so happens to be a hungry, thriving market.  There will always be ‘naysayers’ and critics to speak against anything; supermarkets, a restaurant chain, Obamacare—or whatever, so you just have to ignore them, do your own research, and make a decision for yourself.  No matter what the critics say—the end result is that Buy Here, Pay Here dealers are helping the people that truly need it and has been turned away by everyone else—something the ‘big-rigs’ may want to try.

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