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Buy Here Pay Here Myths!


Fact vs. Fiction in the Buy Here Pay Here Industry

Didn’t anyone tell you not to believe everything you hear? Unfortunately, due to lack of knowledge, Buy Here Pay Here auto dealers tend to get a bad rap. We want to bust the common myths about BHPH! Buy Here Pay Here auto dealers can provide many benefits that traditional auto dealers cannot. Having our own in house financing allows you to get approved for used cars, vans, trucks, and SUV's that are newer with lower mileage that you may not have qualified for before. 

MYTH: BHPH auto industry is not well regulated, so buyers need to be aware. 
TRUTH: Far from it! BHPH dealers must comply with so many laws and regulations. This list just names a few!
•    State & Federal Unfair & Deceptive Practice Laws
•    State Usury Laws
•    The Truth in Lending Act
•    The Fair & Accurate Credit Transaction Act
•    The Used Car Rule
•    The Privacy Rule 
•    The Safeguards Rule
•    The Disposal Rule
•    The Red Flags Rule
•    The Risk Based Pricing Rule
•    The Fair Debt Collections Practices Act
•    The Fair Credit Reporting Act
•    and so many more!

MYTH: Buyers can expect to pay 30% more interest at a BHPH
TRUTH: Each state sets a maximum allowable rate that can be charged and many dealers charge less than that. BHPH dealers lend their own money to people who generally cannot obtain any other financing. 


MYTH: Dealers will try to get a down payment that is close to what he paid for the car

TRUTH: Down payments are much less than what we pay as a dealer! Our down payments are as low as $500!


MYTH: BHPH’s don’t stand behind their vehicles. 
TRUTH: We offer a 24 month/24,000 mile limited warranty on all vehicles. We stand behind our vehicles and more importantly, we stand behind our customers!

See folks, you can’t believe everything you hear. We can guarantee that when you sit down with one of our talented Loan Specialists, these myths are far from the truth. That's what makes us WNY's number one Buy Here Pay Here auto dealer!

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