Alibaba co-opted it in 2009 as an excuse to push winter coats, and the rest is history: Since then, China’s online audience has grown to more than 800 million consumers by Alibaba’s count. Along the way, Singles Day has matured into the single biggest shopping day in the world—selling more than $25 billion in 24 hours last year. The New York Times put this into perspective: Alibaba sold $1 billion in the first two minutes, which is equivalent to what Amazon sold in 1,800 minutes (or 30 hours) of Prime Day 2017.
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.
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Lots of terms are thrown around by different car dealerships try to be like AutoMax. In short, “we finance”, “on-the-lot financing”, and “buy here pay here” advertisements all mean the same thing. Auto dealers of all shapes and sizes use these sayings interchangeably to describe the in-house auto financing available to car buying customers at their dealerships. The problem is very few actually offer this type of financing. AutoMax is 100% Buy Here Pay Here 100% of the time. All our cars are Buy Here Pay Here cars. All our customers are Buy Here Pay Here customers. If you come to AutoMax and you are not a good fit for our program will gladly refer to another dealership.
How can you build or rebuild your credit if you can’t obtain credit? While it can seem like a vicious cycle and huge hurdle for many people with no credit, little credit, or even damaged credit, there are ways around it! A BHPH dealership like AutoMax, reports to the credit bureaus, which not only provides its customers with the transportation they need to live, but can also help them establish credit or rebuild damaged credit. A car retail installment loan is one of the best and fastest ways to improve a credit rating.
Because Lee Credit Now works with a broad array of lenders with the goal of getting you a great low rate on your auto financing. If you have good credit, that's great: we have excellent relationships with many lenders and will shop for financing for you. If you already have financing, no problem: we have a huge selection of used cars and trucks at low prices, and we have the finest sales consultants in Maine, whose goal is to find you a used car that you'll love. Our salespeople treat all of their customers the way they would like to be treated. That's why we have so many customers who return to us even after their credit problems have been resolved: they know we excel at finding the right car at the right price and with a financing package tailored to their needs.
And, with all due respect to Amazon’s Jeff Bezos and Marc Lore, Walmart’s CEO of U.S. ecommerce, it has considerably more star power than any retail events Western consumers are familiar with: The festivities include a countdown-to-midnight gala in Shanghai’s 18,000-seat Mercedes-Benz Arena with celebrities like model Miranda Kerr, who is confirmed this year, and footballer Lionel Messi, who once kicked goals against a shampoo bottle on behalf of sponsor Procter & Gamble.
Despite being one of the fastest growing segments in the auto sales industry, there is no official definition for “Buy Here Pay Here”, or “BHPH”, which often leaves it to be misunderstood. To put it simply, BHPH is when a car loan is obtained directly from the dealer and not a 3rd party, such as a bank or finance company. The payments are made directly to the dealer which has coined the term “in-house” financing.