How to Find the Best Buy Here, Pay Here (BHPH) Dealer in Your Area

Posted Wednesday, May 04, 2022

Are you having trouble securing a loan for a car in Georgia? Buy Here, Pay Here (BHPH) dealerships offer a solution for potential buyers with poor credit ratings that can help you become a car owner. Today’s post will tell you what you need to know about how this financing method works and where you can find the best dealer in Decatur, GA.

What Is Buy Here, Pay Here?

The term “Buy Here, Pay Here (BHPH)” generally means any dealerships that offer in-house financing plans for the vehicles they sell to their customers. Dealers that follow this business model also boast used cars in their inventory. BHPH dealers tend to facilitate bad credit financing and even no credit financing to make becoming a car owner more accessible.

What Happens in a Buy Here, Pay Here Dealership?

Most auto dealerships focus on generating new sales where they typically allow third-party providers to handle the financing aspect of the business. Some dealerships might even use dedicated lease financing companies or work with third-party providers affiliated with major brands. Traditional financing works well for people who can qualify for prime credit lending and borrowing.

BHPH does not conform to this business model because it can limit many potential buyers with poor credit ratings from securing financing for a car. These businesses provide their own lease financing to subprime borrowers. Dealerships offering in-house financing tend to offer more flexible terms that make buying a car easier.

The process is simple. Potential buyers apply for BHPH financing, take the car they want to buy for a test drive, make the down payment, go through an identity verification process, and sign the agreement that outlines the terms of their loan with the dealership. Working with the right dealer could also help you submit your credit application online and get instant pre-qualification approval.


Car Loan Approval with Bad or Low Credit Score


What Is the Difference Between BHPH Dealers & Traditional Dealers?

Traditional dealerships are dealers that obtain cars directly from the factory or as trade-in vehicles from one of their clients. Customers make payments on vehicles from a traditional dealership in full or through a predetermined loan, much like BHPH dealers. However, a significant difference between BHPH dealers and traditional dealers sets them apart.

The approval for car purchases and loan applications with traditional dealers depends on an individual’s credit history. Sometimes, even a background check might make a difference in whether they can get approval. Traditional dealers usually rely on third-party providers to handle the financing aspect of the business.

BHPH dealers offer in-house financing, allowing potential buyers to eliminate the process of applying for a loan through a bank or other third-party provider. The dealers are the ones taking the risk by allowing those with poor credit or no success in applying for auto financing to secure a loan to purchase a vehicle from them.

Buy Here, Pay Here Financing Benefits

BHPH financing comes with several advantages for potential car owners, including:

  • No need to have a good credit history (or any credit history, for that matter);
  • Quick access to a new vehicle than with traditional financing;
  • Vehicle options can range from new cars to certified pre-owned vehicles at more affordable price ranges;
  • Repayment periods are often shorter than with traditional auto loans, helping you save money in the long run;
  • These dealerships are likelier to accept trade-ins, giving you a better chance of getting trade-in value for your old car.

How To Get Approved for BHPH Car Financing


The traditional car buying process can take several hours and even days if you wait for a bank loan approval. BHPH auto financing takes a fraction of the time from the point you start the process to acquire the vehicle. Customers can be approved for a loan amount in less than an hour. The approval process is much easier for this financing method. Ensure that you have all the relevant documents for the approval process ready.

The documents necessary to get approved for BHPH financing include:

  • Proof of income (through paychecks or statement deposits)
  • Proof of residence (through a utility bill)
  • Bank statement (Cash app, Chime, or regular bank statements are acceptable)

Common Mistakes You Should Avoid w/ BHPH Dealers

It’s important to make sure you avoid making a few crucial mistakes when working with Buy Here, Pay Here dealers to purchase a car:

  • Avoid getting a higher interest rate by saving up for a higher amount in down payment. The more money you put down, the less your overall cost of the loan will be.
  • Make sure you ask for a complete breakdown of all the fees you have to pay the dealer to avoid any surprises when dealing with hidden costs later on.
  • Some people tend to take whatever vehicle is available at the dealership, and that could lead to you ending up with a vehicle in poor condition due to lower costs. You need to check and ensure the state of a vehicle and make sure that it is in excellent condition. Otherwise, you could end up dealing with significant repair and maintenance costs.
  • Always make your payments on time. Repossession is a real issue with BHPH-financed cars if you cannot make the payments on time.
  • Not every dealer takes the time to report to a credit bureau. Ensure that the dealer you are working with will report to the relevant credit bureaus, so you can increase your credit score through this loan.

Apply For Car Financing with The Best Buy Here, Pay Here Car Dealer in Decatur, GA

Take advantage of the benefits of BHPH financing with one of the best dealers in Decatur. Olympic Auto Sales, Inc. ensures that the process of becoming a car owner for all our customers is easy and simple.

Through a quick and easy process, you can also find an excellent car with a great financing option suited to your needs. With a down payment as low as 10% of the price of the vehicle and an interest rate that varies from 9% to 28%, becoming a car owner has become easier through Olympic Auto Sales.

Call us at (404) 299-6566 to speak to a live representative and begin the process right now.