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.
In addition, Buy Here Pay Here in-house auto financing offers a certain peace of mind that you don’t get when you go through a third-party loan provider. From the moment you step into one of our AutoMax dealerships we build a relationship with you. We start learning about your car buying needs, as well as your financial needs, and we explain how the Buy Here Pay Here auto financing process works. Our customers appreciate doing business with someone they know and trust. We build personal relationship with every customer. Our customers are never be treated as just a number in the loan department.