What is Buy Here Pay Here Financing?
February 28th, 2010
Within the many different types of auto dealerships, there is a segment of the industry commonly referred to as buy and pay here car lots. These are normally small independent dealerships, although some new car franchises have been known to use this type of business model as an extension of their main business.
These deelers offer to finance their own cars, holding the title until all payments are made on the vehicle. They hold a lien on the car until it is satisfied.
This is very different from traditional auto lending, in that there is no third party finance company involved.
Entry Filed under: Health and Fitness