The Drive Casa Difference

By acashel | Posted in Uncategorized on Wednesday, June 5th, 2019 at 6:26 pm

What are Buy-Here-Pay-Here Car lots, like Drive Casa, and how are they different than traditional dealerships? The answer is actually pretty straightforward! Buy-here-pay-here car lots (BHPH) are dealers that offer in-house financing, rather than going through a bank loan like traditional dealerships do. Continue reading to learn what the other differences are and how a Buy-Here-Pay-Here like Drive Casa can be the perfect choice for you!

What is a Buy-Here-Pay-Here Dealership?

Buy-Here-Pay-Here car lots like Drive Casa offer in-house financing instead of relying on bank lenders. This allows us to offer car loans to people who have less than stellar credit, or no credit at all.

BHPH Dealerships vs. Traditional Dealerships

There are a few differences between a BHPH dealership and a traditional one.

As mentioned above, Buy-Here-Pay-Here dealerships can work with people who have very little credit, or are going through bankruptcy. We offer an opportunity for people who may have a difficult time finding a loan through a traditional auto lender. However, just like traditional dealerships, Buy-Here-Pay-Here dealerships offer great deals on pre-owned vehicles for people with good credit, too.

Strict Laws & Regulations

Buy- Here-Pay-Here dealerships, like all car dealerships, must abide by the law. The difference is, Buy-Here-Pay-Here lots have to abide by stricter laws since they are also effectively an in-house finance company.

Buy-Here-Pay-Here dealerships must follow the Truth in Lending Act (TILA), which requires financiers to disclose the final sale price, the total amount financed, as well as any other important information for the consumer relating to financing. Other laws and regulations Buy-Here-Pay-Here’s are subject to are the Fair & Accurate Credit Transaction Act, State Usury laws, and the Fair Debt Collections Practices Act.

The Financing Process

The Buy-Here-Pay-Here financing process is simple as well! When you buy a car from a BHPH dealer like Drive Casa, the entire transaction takes place on the premises. We arrange everything at the dealership, and your car is bought and financed here. Your loan payments can be set up for weekly, semi-monthly, or monthly payment plan. We do this so buyers like yourself can match car payment dates with your job’s payday to ensure payments are made on time. As long as you make your payments on time, every time, your credit score will improve overtime.

We are a proud buy-here-pay-here establishment at Drive Casa. We strive to help the hardworking people in our surrounding communities find great quality cars, no matter what their credit history is! To apply online, please click here!  browse our inventory, please click here!

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