At AutoMax in Henderson and Youngsville, NC, we offer Buy Here Pay Here auto financing. Buy Here Pay Here (BHPH) financing describes the process when our customers choose to purchase their vehicle through our in-house financing services, rather than receiving a loan from an outside bank, credit union or finance company. Our customers buy the car and pay for the car at the AutoMax dealership.
Many dealers use these terms in their advertisements to attract customers to do a credit application. Many of these other dealerships do not intend to offer in-house financing. They only wish to get your personal information shop it around to a dozen finance companies and hope they find an approval. This is a waste your time. To ensure you’re in good hands with any Buy Here Pay Here dealership, make sure that your credit application is not going to a bank or multiple banks, and that your credit won’t be pulled multiple times. As you may know, when your credit is pulled over and over, it could result in a lowering your credit score, and can make your current credit situation even worse.
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We hear stories from customers about past experiences with 'buy here pay here' dealers and we cringe. There are bad actors out there looking to take advantage of customers with bad credit and limited options. Lee Credit Now is different. The Lee Auto Group has been doing business in Maine since 1936, and we have a hard-earned reputation for fair deals and exceptional customer service. Our reputation is our most important asset, so we always stand behind what we sell. At Lee Credit Now, we'll get you payment terms you can afford, we thoroughly inspect every vehicle we sell and we offer a 24-month service contract that protects your investment and keeps you on the road.
The short answer? There is no difference. Many dealers use these three terms interchangeably. Unfortunately, this is the part that has created so many BHPH myths. Many dealers place these signs in their lot in hopes to attract customers with credit challenges with no intentions of ever offering a true BHPH experience. Instead, they exploit these interchangeable terms in hopes of getting a credit application and having a bank offer credit as opposed to offering the credit themselves. At this point, it’s possible to have sent your credit application to ten different lenders which pulled your credit ten different times. For those with bad credit, this rarely ever works and often puts customers in even worse situations. If you’ve had credit challenges and need a car, a true BHPH experience may be right for you, which is exactly what we offer here at AutoMax.