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A secured credit card can also help with fixing bad credit after bankruptcy. What's the difference between a BHPH dealership and a traditional dealership? Depending on the dealerships you visit, very little. It is important to keep credit limits low at first with the card though so that you know that you can handle the card. Because car loans are secured, the interest rates are better than those on unsecured loans. If you are aiming to purchase a car that is just within your budget, you may end up defaulting should another regular expense suddenly increase or unforeseen circumstances require a substantial one-off expense. 3. If you consistently make payments on a BHPH car loan, many dealers will report that positive behavior to the credit reporting agencies. At a BHPH dealership, the process is usually reversed. But whether you're traveling 10 mph or cruising by at 70,.


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