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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. You may have been declared bad credit holder due to bankruptcy, arrears or previous unpaid debts but still you have long cherished dream to drive your own car. What's the difference between a BHPH dealership and a traditional dealership? Depending on the dealerships you visit, very little. Opportunities to improve credit One of the ways to rebuild a credit history is to make timely payments on an installment loan. If you consistently make payments on a BHPH car loan, many dealers will report that positive behavior to the credit reporting agencies. This will be figured into decisions on getting financial services. Remember that, as the interest rates are higher than a normal loan, the corresponding monthly payments will be higher also, so aim for a model of car that you can make the payments on with relative ease. In order to accommodate for this, you need to always be fully aware of the prices of used cars in your area for the model and make of car that you are looking for, since.


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