BHPH (Buy Here Pay Here) dealerships are willing to finance people with bad credit. They evaluate a person’s income and credit score to determine whether they are financially capable of making their monthly payments. Typically, a customer’s credit score is below 500, but even a subprime 500 score can qualify for a loan. These dealers are notoriously difficult to find, so finding a bhph near me dealership in your area is an excellent idea.
HOW ANDY MOHR NISSAN DOES FINANCING
The entire auto loan process can be completed at a BHPH dealership. Many third-party lenders can take months to approve a customer with poor credit, so BHPH dealerships are a better option. BHPH dealerships’ standards are more relaxed when it comes to credit financing, which is a great benefit to people with bad credit. They also want to maximize their profit on the car sale, so they lower their credit requirements to make sure their customers get the loan.
Another advantage of a buy here pay here dealership is that they finance the entire deal. This means you don’t have to worry about credit or financial problems, and you’ll get a smoother experience. Many of these dealerships even offer a low down payment option if you don’t have a lot of money saved up.