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Inside the Buy Here Pay Here Car Dealership

Many people are not familiar with Buy Here Pay Here Car Dealerships until they have a need for them. The point of this article is to shed some light on the way that the BHPH car lot and auto dealer operates and how they differ from the standard automobile dealer. I will give you a look inside the BHPH business model and how they sell, finance, acquire and secure automobiles.

To give you some background the primary focus of the Buy-Here Pay-Here car dealer is to sell and finance vehicles for people that have bad credit and are unable to buy and finance automobiles through traditional dealers and lenders. They do this by selling used vehicles and financing them in-house or through the selling dealer. They don’t use banks, finance companies or third party lenders. Their customers buy the car and make the weekly payments at the same place, hence Buy Here Pay Here.

Setting-Up the Buy Here Pay Here Car Dealership

Some BHPH car dealerships are small corner lots that set up business in and old gas station or an auto repair facility as long as they have an office, a couple of bays where they can work on or prepare cars for sale on the lot and an area where they can display their vehicles that are for sale. On the other end of the spectrum you will find that some new car dealers set-up a Buy Here Pay Here division in addition to their regular car sales business to accommodate customers that will not qualify for an auto loan through their normal lenders. So you can see that BHPH car dealers can come in all shapes and sizes.

Inventory for the BHPH Car Dealership

The small to mid-size BHPH car dealer is always on the lookout for vehicles to sell on their lot. They go to auctions to buy cars, buy cars from private party sellers and they also buy cars from new car dealers that were trade-ins. They are very particular about the cars they buy because they have to pay cash and they need dozens of cars to stock their lot and attract customers with a good selection.

The new car dealers that have a Buy Here Pay Here Department usually sell their quality trade-ins in their BHPH Division. It makes good sense to sell their trades with in-house financing because they have a steady source of used vehicles at their disposal and they can avoid buying cars from the auction which is a very time intensive activity to find quality cars.

No matter where they get their vehicles they are very careful to make sure they only offer sound and dependable automobiles because they will be financing their customer’s purchases. If they were to sell junkers and beaters to their customer they stand a chance of the buyers not making their payments. Then if the customers don’t pay they will have to repossess the cars and then they are stuck with vehicles that are unsellable because they are junk. So you can see why they are very particular about the cars that they sell and finance at their Buy-Here Pay-Here car dealership.

The Process at the Buy Here Pay Here Car Dealer

The first step of the car buying process at the buy here pay here auto dealer is to see if the buyer can qualify for in house financing. Some dealers pull the consumers credit report and some don’t, one of the main concerns is the income and the stability of that income of the buyer along with where they live. The BHPH car lot owner is looking for a person that has an income that can service the auto loan weekly or biweekly and how long they have been on their job. These aspects are often more important than prior repossessions or bankruptcies.

Once they qualify for in house financing they discuss terms of the auto loan including the down payment, number of payments, the interest rate and when and where the car payments are to be made along with the form of payment which could be cash or checking account debit. The price is important, but the customer is usually more concerned with the payment. junkyards near me

Vehicle Selection at Buy Here Pay Here Lots

Then it is time for the customer to select a vehicle from the dealer’s lot. They are given a list of the vehicles that they are qualified to buy and finance and they choose their vehicle of choice. Yes, that is different from your traditional car dealer, but things are done differently at the buy here pay here auto dealer. Some people say that the car is overpriced, but you need to remember that the BHPH dealer is about to finance a customer with very bad credit and a small down payment.

The Buy Here Pay Here dealer is playing the odds and hoping the buyer will make the payments as agreed, but a certain percent of all the sales will have to be repossessed after the buyer has run the car into the ground. The car buyer with bad credit knows that they will be paying a high price for the car and an interest rate that is high to compensate the dealer for the high risk and the expenses they will have to absorb when they repossess vehicles.

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Are You Committed to Quit Your Gambling Addiction? Do You Desire a Better Lifestyle?

Let’s start with a definition. What is gambling? Gambling is betting on something that may or may not happen in the future. When we gamble, we take a risk, choose an uncertain outcome, and bet on it. Gamblers bet on casino games, horse racing, and sports where the result can’t be predicted with certainty. Some people will bet on anything. Remember the Seinfeld episode where Kramer bet on the arrival and departure times of airplanes at a New York City airport?

How is gambling different from buying stocks and bonds? Stocks and bonds are considered investments and not gambles because we can reasonably expect to come out ahead in the long run. They may be risky but not in the same sense as gambling.

How is gambling different from buying insurance? When we buy insurance, we are betting on something that may or may not happen in the future. We don’t want to take the risk that it will happen, so we pay someone else (the insurance company) to take the risk for us. When we buy homeowner’s insurance, for example, we are betting our house will burn down and the insurance company is betting it won’t. (Of course we hope we won’t win this bet.) This isn’t gambling because the risk can be calculated. The insurance company uses all kinds of statistics to analyze the probability of our house burning down and fixes the premium we will pay accordingly.

People have gambled since ancient times. However, society never approved of it because it was labeled an attempt to get money without working for it. Society believed that hard work should pave the way to financial success. It wasn’t until the late 1960s that states (except for Nevada which had legalized all forms of gambling earlier) started to run lotteries to raise money for worthwhile causes.

So why do we gamble even though we are unlikely to win in the long run? We gamble for the excitement of the uncertain outcome. Some gamble to try to make their financial dreams come true. Some people gamble for entertainment or enjoyment, such as a night out with friends at the casino or a bingo game for a charitable organization or a lottery ticket. Some think they can beat the odds and make a living out of gambling. There are people who gamble because they simply love the challenge. They look at gambling as a game of skill or problem solving and they are sure they can win. Some like the environment or the thrill of a possible big win, or the adrenaline rush of taking a chance. Casinos allow us to socialize and pass some time. There are no clocks in a casino; we lose track of time; we forget all our troubles. It’s like a therapy session! If we are timid, we can go to a casino and boldly take chances.

Occasional gambling may be a relaxing form of entertainment but be careful not to get addicted. Addiction may lead to obsession. You may lose control and become so fanatical that you can ruin you life or suffer other catastrophic consequences. So if you gamble, be sure to set limits and keep to the limits you have set.

Gambling today is all around us. From the local lottery to football pools at work, gambling has become as much a part of our lives as shopping or eating with the family. But for millions of teens it may develop into so much more than the occasional bet with friends.

It can become an obsession, a way of life. The problem of gambling compulsively is a crippling illness that can destroy families, friends, jobs, and lives. Many history books specializing in the study of the legal aspects of gambling, argue that gambling in the United States has gone through three historical phases. Gambling thrived during the colonial and post revolutionary periods. Governments supported and encouraged lotteries.

Lotteries however were not the only type of gambling during this time. Wagering on horse racing was another popular form of gambling. Racing though was not quite as organized or as complex as modern day horse racing. Instead the gambling was only between a few owners of horses and their partisans. The first racetrack in the United States was built in Long Island, New York in 1665. With the end of Jacksonian morality, came the end of the first phase, gambling scandals and outright fraud caused the ban of lotteries and gambling. By 1862, all states expect Kentucky and Missouri outlawed lotteries. The second phase began after the civil war.

Southern states that were desperate for revenue turned to lotteries. New laws were enacted legalizing gambling houses so that states could collect taxes on them. As gambling moved west it became more pervasive, and laws were much more difficult to enforce. In the 1890s scandals in the Louisiana lottery resulted in new anti-lottery laws. Legislation banning lotteries in many states soon followed, some were even written into the State Constitution.

The second wave of legal gambling was short-lived. Scandals and the rise of Victorian morality led to the end of legal gambling. Virtually all forms of gambling were prohibited in the United States by 1910. There was legal betting in only 3 states, which  บาคาร่าประกันภัย  allowed horse racing, but even that number shrank in years following. The thoughts about gambling ran so strong that Arizona and New Mexico were required to outlaw casinos to gain statehood.

The prohibition however did not stop gambling. There were many types of illegal gambling houses. Some operated openly for many years, but had to pay protection money to the law enforcement authorities for this privilege. The third and present phase began during the great depression of the 1930’s. The great depression led to a much greater legalization of gambling.