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You purchase the car through what's referred to as in-house financing versus through a third party, such as a bank. In case of unsecured ones no security will be asked from you as collateral against the loan. Buy Here Pay Here (BHPH) financing means that you arrange a loan and make payments on it at the dealership. After you've seen a few models, asked a host of car questions and possibly test driven one, the dealer will help you explore payment options. You therefore "buy" the car at the dealership and "pay" on the loan at the dealership. Who should go to a BHPH dealership? BHPH dealerships are primarily designed for shoppers who may have experienced significant financial bumps and bruises. One of these things is a high pre-payment penalty. They are more likely to find a buyer for your car and thus more likely to take it as part of a trade-in. The best way to get a good deal is to shop around and compare the various rates available from different vendors. Money for credit will have to be paid to the credit card group as security for the account that is used after bankruptcy. Auto loans like all other loans available.
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