Busted: 3 Common Misconceptions about BHPH Auto Dealers

Purchasing a car from a Buy Here Pay Here Florida dealership has historically had a few common misconceptions. Like most misconceptions, these views are founded on perceptions and aren’t true. There are several myths surrounding Buy Here Pay Here (BHPH) dealerships, but the fact remains that purchasing a car from a BHPH dealer is a great way to get a car. It’s a reasonable and viable alternative to financing a vehicle from a bank, and it’s a particularly excellent choice for individuals with credit challenges. Buying a car can be a stressful experience, and we want to take the questions surrounding BHPH financing.

In order to dispel some of these common misconceptions, we’ve researched the top three concerns consumers have about Buy Here Pay Here Florida car dealerships.

1. All Lease Interest Rates are Sky High
It’s just something that’s assumed when conversations about BHPH dealerships occur: the loans have high interest rates. This is simply not true. Buy Here Pay Here Florida dealerships offer fair loan interest rates, just as dealerships that rely on bank loans do. In some cases, interest rates may be high- but it depends entirely on individual credit history and financial situations.

2. Warranty Issues
We’ve heard plenty of times that cars purchased through BHPH dealerships don’t come with warranty guarantees. This generally makes people uncomfortable with purchasing a vehicle as they are afraid they have no protection against lemons. In actuality, many Buy Here Buy Now Florida dealerships offer 30-day guarantees and 1,000 mile warranties to ease the consumer’s mind.

3. Inventory Shortage
At BHPH dealerships, there is no shortage of inventory. There may not be the vast selection as dealerships that rely on bank funding, but as the cars are purchased on dealership credit, there’s not feasible way for the selection to be as broad. The cash flow simply doesn’t allow it. That being said, there will always been plenty of vehicles in every price range at a Buy Here Pay Here Florida dealership.

Want to learn more about Buy Here Pay Here dealerships and the ways they can get you into your dream car?

Visit a Car Loan Unlimited location today!