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What does Buy Here Pay Here mean? Despite being the fastest growing segment in the auto sales industry, there's not an official definition for Buy Here Pay Here in the dictionary. Although some BHPH dealerships will accept payment by phone or online, many require that you physically bring a check or cash to their location. The key difference between a traditional dealership and one that strictly specializes in BHPH financing lies in the shopping experience. Updates will need to be made after your bankruptcy, so you should send information on your discharge to Equifax, Trans Union and Experian, the main credit reporting groups. Trade-in flexibility BHPH dealerships tend to be more forgiving when it comes to accepting trade-ins on older model cars. The Internet doesn't provide much more clarity. When you refinance your loan, you pay the remaining balance in one lump sum, and, if your contract includes pre-payment penalties, you’ll have to pay that amount in addition to your principal balance. Everyone knows that it’s more difficult to get financed for a car loan when you don’t have any credit or you have bad credit. If you consistently make payments on a BHPH car loan, many dealers will report that positive behavior

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