How Buy Here Pay Here Works May 2026

"Buy Here, Pay Here" (BHPH) is a type of in-house financing where the car dealership acts as both the seller and the lender. Instead of getting a loan from a bank, you borrow money directly from the dealer and make payments to them at the lot . Key Features of BHPH

: You pay the dealership directly, often on a weekly or bi-weekly schedule that matches your pay cycle.

: Because they take on riskier borrowers, interest rates are significantly higher than traditional loans, often ranging from 15% to 30%.