BHPH, short for bad-credit, is a car buying process that is designed to help people with low credit scores find a car. It isn’t as restrictive as the process of traditional auto financing, and it can be easier than applying for a loan with a bank. However, BHPH financing isn’t a good option for everyone. You’ll need to do a lot of research before deciding.
How can I get a instant loan in 5 minutes?
The main reason you’ll want to look into BHPH dealerships is that they can offer you a vehicle the same day you apply for a loan. This may not be possible with traditional auto financing, because you’ll need to wait until you’ve received approval from a third-party lender.
The process is also faster than traditional financing. Traditional dealerships will run a credit check, and they’ll ask you a host of questions about the car you want. This can take days or even weeks. However, bhph dealerships don’t run credit checks and only look at your income. They also consider your income more important than your credit score.
You’ll also be able to drive off the lot with your new car on the same day. This may be the only way you can get a vehicle if you’re turned down by traditional lenders. This can also be a good option for people with multiple repossessions. However, repossession will show up on your credit report. It’s also important to know that BHPH loans may have higher interest rates than traditional loans.
