Four Reasons to Buy From a Buy Here-Pay Here Dealership

January 11th, 2016 by

Buy Here-Pay Here dealerships often get the unfair stigma of being beneficial for the seller and troublesome of the buyer. This isn’t actually the case, as there are really several positive reasons for shopping at these businesses.

Continue reading to learn why these businesses are actually advantageous to the buyer. When you’re finished, you’ll be convinced that you should visit an Ohio Buy Here-Pay Here dealership

You Can Buy a Car


If your credit score is struggling, there’s a good chance that traditional dealerships won’t even give you the time of day. After all, you don’t have the money to afford the targeted vehicle, and there’s a good chance that you were unable to secure a loan from a local credit union. Due to your low score, we can all assume that you’re not dependable when it comes to making monthly payments, and that certainly makes you a risk.

Unless you have enough money saved up to purchase a vehicle outright, your only real option is shopping at a Buy Here/Pay Here dealership. These businesses will lend you the necessary amount of money for you to afford that new ride… and they’ll subsequently sell you that targeted vehicle. This strategy is advantageous towards the dealership, as they’re allowed to significantly spike the price of the vehicle and offer their borrowers high-interest rates.

Still, if you’re unable to get a vehicle elsewhere, this is your only logical option. While you’ll have to pay more money over time, it certainly beats taking the bus or (*shudder*) walking.

You Can Trade in Your Beater


Buy Here-Pay Here dealerships clearly operate a bit different than traditional dealerships. For example, these business owners are more like to take a financial risk than others. As Russ Heaps of writes, you’ll probably have an easier time trading in your beater car to a BHPH dealer than a traditional dealership. Doing so may also save you some money from your final purchase.

You Can Improve Your Credit


One of the ways to help improve your credit is by making consistent, on-time payments. If you’re broke and maxed out your credit cards, it’s not easy to improve your score. However, you’ll have another opportunity to boost your rating with a loan from a Buy Here-Pay Here dealer.

Assuming the monthly payments fit into your budget, the consistent payouts should slowly improve your credit score. Reversely, if you’re unable to make these payments on time, you may find yourself hurting your credit even more.

There Are Protections


Buy Here-Pay Here dealerships are just as dependable as your everyday car seller, but we’d understand if you want some protection for your purchase. Luckily, there are several laws that benefit the consumer in these types of transactions.

As Steve Lehto of writes, “Regulation Z of the Truth in Lending Act” requires these lenders to “disclose that it has retained all or portions of the amounts charged,” as well as “accurately disclose” the cash price of the vehicle and the amount of money financed. Furthermore, under the FCRA. 15 U.S.C. §1681m(h), financiers need to provide the consumer with a “risk base pricing notice,” a document that will prevent them from being liable for any statutory damages. If they fail to issue this document, the car buyer could be liable for up to $1,000 and attorney fees.


Forget what you’ve heard previously. Buy Here-Pay Here dealerships are a perfect option for some. They’ll willingly sell a car to someone with poor credit, and these monthly payments could help the buyer improve their score over time. There are plenty of other benefits to shopping at these dealerships, so make sure you’re not limiting your options by avoiding them!

Posted in BHPH