Edmunds.com | Inside Line | Auto Observer Your Account | Help | Directory
You are here:
![[F]](http://a332.g.akamai.net/f/332/936/12h/www.edmunds.com/media/townhall/webxicons/site.gif){kind=small}
Forums
Smart Shopper Buy Here, Pay Here
328 messages, Last post on Jul 19, 2009 at 7:42 PM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
|
|
|---|---|
|
Replying to: lemko (Jan 04, 2005 10:40 am) If the credit criminal crashes your ride, it's HIS loss, not yours. You've already broken even in the car - worst case is that you don't make anymore profit on that unit, but the good news is that you have a guy, who works at Wendys as an associate french fry cook trainer, who needs another ride to work. Cha ching! No, I don't play a BHPH dealer on TV - that was a joke, as is humor. Only been on TV twice, both times appearing as myself. |
|
| OK, so bad titles were mentioned earlier (salvage, TMU, etc). Does this show on the title that the dealer has? Does the dealer even have a title? Or is that sitting at a bank somewhere? How do you address this if looking at a suspect car? Do you just ask the dealer if its clean and take their word? Or do you not buy it until you get to see the title for yourself? | |
|
|
|
and most wouldn't care anyway, especially if they can pose in a newer car than their budget would normally allow. The idea here is that they have bad credit, and they're broke, but they want to portray an image of wealth, or least financial bouyancy.
|
|
|
Replying to: driftracer (Jan 04, 2005 1:30 pm) Here's the recap, though, on my situation. I've been to a dealership that, by some of the details expressed here, MAY be a BHPH lot. They do their own financing. BUT, they have nice higher-end cars for decent prices. I may want to do business with these folks. I don't NEED to use a BHPH lot because my credit is stellar. But why pass up a good deal on a nice car UNLESS it turns out to have title problems. So how do I discover these problems BEFORE buying?
|
|
|
|
|
do the normal background checks and mechanical checks on it, even if you finance with the dealer, you won't have any problems because you pay your bills. Personally, though, even on an older car, there's no way that a credit union couldn't beat mom and pop car dealer's rate.. The title problems, though, are a real concern, since the majority of vehicles that are passed through the BHPH and We Finance lots aren't qualified for retail sale at a regular dealership, for many reasons, not just age and mileage. |
|
|
...with used Mercedes, BMWs, Jaguars, etc. Ironically, these lots are in some of the seedier neighborhoods where it would seem unlikely anybody'd be in the market for such a vehicle. However, they do a brisk business anyway. I don't know if these places are also BHPH lots. The last thing a guy who's worried about paying the rent on his sleazy one-bedroom apartment in a marginal neighborhood needs is a used German luxury car that's out of warranty. "Nice ride, homes! I like those Pep Boys Futura tires on your E-Class!" My girlfriend once worked as a leasing consultant in a high-rise. One of the tenants was a man with a $50,000 vehicle, yet he was a month behind on his rent and his four kids were sleeping on the floor, (no matresses even).
|
|
|
Replying to: lemko (Jan 05, 2005 11:50 am) The guy looking for a $30K car, that went for $70K new, generally won't mind checking one out in that kind of neighborhood, as long as freeway access is fairly easy.. especially, if he thinks he can save $3K-$5K.. At least that is my take on it... |
|
|
|
|
those "Look at me, I'm rollin' a Benz/Denali/BMW/Cadillac (insert other vehicle here)" types are prime customers for BHPH lots. Many who have established regular payments often drive one for a few weeks, then swap to another in order to front a different style. And yes, there are lots of Pep Boys junk tires on MB, Cadillac, and BMW products. The boys in the hood comprise a VERY large portion of BHPH sales. |
|
| Let's be careful not to get into stereotypes... I know where you're coming from, but let's be careful about giving nametags to groups. Thanks! | |
|
|
|
Shall we say that folks who live in oppressed areas, ones who normally wouldn't have the cash flow to support that type a vehicle, are often that type of vehicle's prime owner in the BHPH scenario, because they can pose with something of a higher standard, and most folks don't know the difference. Just like buying a fake Rolex when you work at Wendys - your buddies aren't smart enough to know the difference, and they think you're cool...plus you don't hang out with people who DO know the difference... Just a month ago, I saw a young man working the counter at Mickey D's and he had a Rolex Presidential (with all the diamonds), plus HUGE rocks for diamond studs in his ears, like the pro football players wear...yeah, at $7 an hour, THOSE are real... |
|
You are here:
Forums
Smart Shopper Buy Here, Pay Here
New? Join Now!
Forum Tools
Search Forums
Browse by Vehicle
Browse by Board
Browse by Topic
Today's Chats
