Since Buy Here Pay Here (BHPH) dealerships have operated for a while, many myths and misunderstandings have developed around them. Some prevalent misconceptions regarding buy here pay here miami dealerships have been creatively dispelled.
1: Only people with poor credit are eligible for BHPH dealerships.
Contrary to widespread assumption, folks with bad credit are just some of the ones who can use BHPH dealerships. However, because of the streamlined procedure and attentive service, many customers with good credit opt to purchase from BHPH shops.
2: BHPH dealerships only offer shoddy vehicles.
There is no way that this myth is true. Although BHPH dealerships frequently focus on selling older, high-mileage vehicles, they are trustworthy. On the contrary, to assure the dependability and safety of the cars they offer, BHPH dealerships extensively check and refurbish them.
3: The financing rates at BHPH dealerships are expensive.
Indeed, BHPH financing frequently has higher interest rates than conventional financing choices, although this is only sometimes the case. Customers can often work with BHPH dealerships to obtain a financing package that matches their budget.
4: BHPH dealers do not submit credit bureau reports.
This rumor is untrue. Most BHPH dealerships provide information to credit bureaus, so paying your BHPH auto loan on time can benefit your credit score.
5: BHPH dealerships don’t provide warranties.
This myth is not wholly accurate. Although BHPH dealerships frequently sell older vehicles without warranties, many BHPH dealerships provide guarantees or warranties from outside companies to give buyers peace of mind.
6: BHPH dealers don’t give a damn about their clients.
The opposite is true, as you can see. Smaller employee sizes at BHPH dealerships enable them to concentrate on fostering enduring relationships with their clients. Throughout the whole car-buying process and afterward, they provide individualized attention and support.
However, by dispelling these illusions, we may better comprehend the advantages of purchasing from a BHPH dealership, such as streamlined financing, individualized care, and the chance to establish credit.