What Is Buy Here Pay Here?
Buy here pay here (BHPH) is a financing model where the dealership provides the loan directly, rather than through a third-party bank or credit union. This means the dealer has more flexibility in approving buyers who may not qualify for traditional financing. At Chinook Auto Sales, we offer similar in-house financing solutions designed to help credit-challenged buyers get behind the wheel.
Who Benefits From BHPH?
This financing model is particularly helpful for buyers who have experienced bankruptcy, have limited credit history, are new to Canada and haven't established credit yet, or have had other credit challenges. If you have steady employment and a reliable income but your credit score doesn't reflect your ability to pay, in-house financing may be the right solution for you.
How Our Process Works
At Chinook Auto Sales, we evaluate your application based on your current ability to pay, not just your credit history. We consider your income, employment stability, and living situation. Many applicants who are denied elsewhere find approval with us. The process is quick, respectful, and designed to get you driving as soon as possible.
Building a Better Future
Responsible payments on your vehicle loan are reported to credit bureaus, helping you build positive credit history over time. Many of our customers start with in-house financing and later refinance to traditional loans at better rates. Your vehicle purchase today can be the foundation for improved financial health tomorrow.
Frequently Asked Questions
Do I need a down payment for buy here pay here?
Some down payment is typically required to structure a manageable loan. The amount varies based on the vehicle and your financial situation. We work to keep it as low as possible.
Are the interest rates higher with in-house financing?
In-house financing rates can be higher than traditional bank loans because the dealer assumes more risk. However, the trade-off is approval where others decline, and the opportunity to build credit for future refinancing at lower rates.