Buy Here, Pay Here Thread

[XDCX]

One of our members, zophy, has offered to share her experience and answer some questions about her Buy Here, Pay Here (BHPH) operation.

I love the concept of BHPH, but I've always heard that it's a lot of work and you have to be fully committed if you want it to be successful. That said, what I've heard isn't important, I'd rather hear from zophy and let her share her experiences.

So, here are the first questions for zophy:

• Is it hard for a dealer to get started with a BHPH operation?
• Do you have to get any permits/licenses to be able to extend credit?
• Are there any interest rate caps in your state?

Thanks in advance to zophy for offering to share her experience. If any of our other members have something to add or want to ask a question, please feel free to post in this thread.