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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]
Dealer or retail price is the price expected to pay if buying from a licensed new-car or used-car dealer. Dealer trade-in price or wholesale price is the price a shopper should expect to receive from a dealer if trading in a car. This is also the price that a dealer will typically pay for a car at a dealer wholesale auction.
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According to Automotive News Data Center’s top 125 dealership group data, in 2012, the company sold 19,049 new and 9,793 used vehicles in 2012. [ 9 ] [ 4 ] The company is headquartered in Chandler, Arizona , and has dealerships primarily throughout the Phoenix-area, as well as two in Las Vegas .
In December 2019, Asbury agreed to buy Texas-based Park Place Dealerships, a collection of luxury vehicle dealerships in the Dallas/Fort Worth area, for $1 billion. [15] On March 24, 2020, the deal was canceled amid concerns due to the COVID-19 pandemic. [16] However, a modified deal was reached on July 6 of that year [17] which closed on ...
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