Is "Buy Here Pay Here" for you?
Buy Here Pay Here (BHPH) financing means that you arrange a loan and make payments on that loan at Benny Boyd Bastrop through what is referred to as in-house financing versus through a 3rd party, such as a bank, credit union or Ally Financial. Instead of making monthly payments to a traditional lender, you make monthly payments through our dealership either personally, over the phone or through the mail.
The buying experience for our BHPH customers is not too different from a 'traditional 3rd party car loan.' Our program, however, is designed to help those shoppers who may have experienced significant financial bumps and bruises. If your credit score is on the lower end of the scale, or you have had trouble getting an auto loan, call us at (512) 303-4486 or (512) 985-5124 to see how we can help you.
The key difference between a traditional 3rd party loan and our BHPH financing lies in your shopping experience. For a traditional car loan, the financial conversation is often the last part of your discussion. After you have seen a few models, asked your sales specialist questions and possibly test driven a vehicle, he or she will help you explore payment options.
For BHPH candidates, the process is usually reversed. Your sales specialist will ask you a series of questions, run a credit report and invest in understanding your credit experience before showing you available cars. Then, with your monthly payment range and down payment information factored in, he or she will show you our cars that fit your financial situation.
There are some benefits to taking advantage of Benny Boyd Bastrop's BHPH Program:
1. Available Cars/Available Credit
The most important benefit of our BHPH financing is that it gives credit-challenged people the opportunity to get much-needed transportation. In many cases, BHPH is not just an
option - it may be the
only option when you have been turned down by traditional loan institutions.
2. Opportunities to Improve Your Credit!
One of the ways to rebuild a credit history is to make timely payments on an installment loan. If you consistently make payments on your BHPH car loan, we will report that positive behavior to the credit reporting agency. Over time, your credit score can improve. But remember! Not only do we report timely payments, we report the late ones, too! Staying on top of what you owe, when you owe is the key to a good report.
Bad credit shouldn't prevent you from getting a good, quality vehicle. Benny Boyd Bastrop is focused on offering reliable and dependable vehicles. We understand that sometimes taking a blow to your credit score is unavoidable. We want to be your dealership of choice no matter your credit. We want to help get you back on the road and back in good standing. Come and join the Benny Boyd Bastrop Family!
