What does Buy Here Pay Here (BHPH) mean?
Buy Here Pay Here (BHPH) financing means that you arrange a loan and make payments on it at the dealership. You purchase the car through what’s referred to as in-house financing versus through a third party, such as a bank. Instead of making monthly payments to a traditional lender, you make weekly or bi-weekly or monthly payments at the dealership. You, therefore “buy” the car at the dealership and “pay” on the loan at the dealership.
