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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]
In house lending is a type of seller financing in which a company or broker will help a customer obtain a loan at their place of business to purchase any product or services. When using in-house lending, one does not have to rely on a 3rd party company or business to complete the transaction.
Retail floor planning (also referred to as floorplanning or inventory financing) is a type of short term loan used by retailers to purchase high-cost inventory such as automobiles. These loans are often secured by the inventory purchased as collateral. [1] Floor planning is commonly used in new and used car dealerships. [2]
Here’s how American car dealers use the '4-square method’ to make big profits off you — and how you can make sure you're paying a fair price for all your vehicle costs Moneywise December 5 ...
Just how much money does it take to buy and maintain a car for one year? To determine the answer to this question across all 50 states, GOBankingRates surveyed and totaled four key car expenses...
Tesla has a financing arm that provides car loans – and the CFPB policies car loans. (The bureau does not regulate auto dealers, but it does oversee auto loans like the financing Tesla provides ...
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