Have you wondered why used car lots that sell cars “buy here, pay here” charge such a high price? Answer: They charge this dollar amount due to a high repossession rate in the industry. This repo rate is approximately 30% in good economic times. Read more?
You will learn how to shop for buy here pay now dealers and how to avoid paying high prices.
The BHPH segment of the automotive industry is growing at a rapid rate. BHPH Dealers in the United States have sold approximately. BHPH vehicles sold in the United States are worth approximately 10 billion dollars.
You’re in for a treat!
This is great news because it means that many used and new car dealers have entered the BHPH market. The new and used auto dealers are expanding BHPH lots faster than China can increase its population.
It is a sign of BHPH dealer saturation. You will see “in-house”, or Buy Here Pay Here financing everywhere you look. It is great for you, because it gives the customer more options when choosing where to buy their next BHPH vehicle.
In the next few years, the price of BHPH vehicles will start to drop. This fierce BHPH competitiveness will benefit the consumer.
BHPH Saturation: Benefits and advantages
– The price of BHPH vehicles on BHPH lots will drop.
In the future, customer service will improve dramatically.
-Due to increased competition, the selection of used vehicles on BHPH’s car lots will increase dramatically.
-The warranty provided by BHPH dealers will improve.
-The service provided by BHPH dealers will improve.
This will result in a better shopping experience for the customer.
Even after all these benefits, the consumer will still have to look for a BHPH bargain. This process has become much easier thanks to technology.