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If you're in the market for a car and have bad credit or no credit, you may have come across the term "buy here pay here" (BHPH) dealerships. These dealerships offer financing options for buyers who may not qualify for traditional auto loans. In this article, we'll discuss what you need to know before you buy from a BHPH dealership in NJ.

What is Buy Here Pay Here?

Buy here pay here is a financing option offered by some car dealerships, where the dealer acts as the lender. This means that the dealer is responsible for financing the purchase of the vehicle, rather than an outside financial institution. Typically, BHPH dealerships cater to buyers with poor credit or no credit history.

Pros and Cons of BHPH Dealerships

There are several advantages and disadvantages to buying from a BHPH dealership. Here are some of the most important ones:

Pros:

• Easier approval process: BHPH dealerships often have more lenient credit requirements, making it easier for buyers with poor credit or no credit to get approved for financing.

• Convenience: Because the financing is done in-house, buyers can often complete the entire purchase process at the dealership.

• Ability to build credit: If the BHPH dealership reports payments to the credit bureaus, buyers have the opportunity to build their credit with on-time payments.

Cons:

• Higher interest rates: BHPH dealerships typically charge higher interest rates than traditional auto lenders, which can result in higher overall costs.

• Limited vehicle selection: BHPH dealerships often have a smaller inventory of vehicles to choose from, limiting the buyer's options.

• Risk of repossession: Because the dealer is also the lender, missed payments can result in repossession of the vehicle.

How Trash Rite Can Help

At Trash Rite, we may not be able to help with your car financing needs, but we can help keep your car clean and organized with our high-quality trash bags and car litter bags. Our bags are made from durable materials and come in various sizes to fit any car's needs. With our products, you can keep your car free from litter and debris, promoting a cleaner and more comfortable driving experience.

In conclusion, buy here pay here dealerships can be a good option for buyers with poor credit or no credit history, but it's important to weigh the pros and cons before making a purchase. At Trash Rite, we may not be able to help with your car financing needs, but we can help keep your car clean and organized with our top-of-the-line trash bags and car litter bags.