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In the used car market in the United States and Canada, buy here, pay here, often abbreviated as BHPH, refers to a method of running an automobile dealership in which dealers themselves extend credit to purchasers of automobiles. [1] Typically, purchasers of cars at BHPH dealerships have poor credit history, and loans have high interest rates. [1]
Chambers started his automotive business after purchasing an Oldsmobile-Cadillac dealership in New London, Connecticut in 1985. His decision to purchase the business was based on his own poor buying experience at the dealership. [5] As Chambers improved the operations of this first car dealership, he started the Herb Chambers Companies.
Credit Acceptance Corporation is an auto finance company providing automobile loans and other related financial products. The company operates its financial program through a national network of dealer-partners, the automobile dealers participating in the programs. The company operates two programs: the "Portfolio Program" and the "Purchase ...
The electric car company Tesla has faced dealership disputes in several US states as a result of local laws. In the United States, direct manufacturer auto sales are prohibited in many states by franchise laws requiring that new cars be sold only by independent dealers.
In January 2011, TrueCar released ClearBook, a used vehicle index that analyzes the used car market in the same way TrueCar did for new cars. [13] [14] In May 2011, TrueCar acquired News Corp-backed Honk.com, a social car shopping platform. [15] In late 2011, TrueCar launched a television advertising campaign with commercials promoting its ...
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