Buy Here Pay Here Motorcycle Dealers In Florida
Are you looking for a motorcycle but have bad credit or no credit at all? Do you live in Florida? If so, you might want to consider visiting a Buy Here Pay Here (BHPH) motorcycle dealer. These dealerships specialize in providing loans to people with poor credit or no credit history. They are also known as in-house financing dealerships as they finance the vehicles themselves.
What is a Buy Here Pay Here Motorcycle Dealer?
A Buy Here Pay Here motorcycle dealer is a dealership that offers financing to customers who are unable to secure financing through traditional lenders. Instead of going through a bank or credit union, the dealership itself provides the financing. The customer makes payments directly to the dealership, usually on a weekly or bi-weekly basis.
These dealerships are often a last resort for people with poor credit or no credit history. They typically charge higher interest rates than traditional lenders and require a larger down payment. However, they can be a good option for people who need a motorcycle but are unable to secure financing through other means.
Advantages of Buying from a BHPH Motorcycle Dealer
There are several advantages to buying a motorcycle from a BHPH dealer:
- Easy financing: BHPH dealerships provide financing to people with poor credit or no credit history. This makes it easier for people to buy a motorcycle.
- No credit check: BHPH dealerships do not perform credit checks, which means that people with poor credit or no credit can still get financing.
- Flexible payment options: BHPH dealerships offer flexible payment options, such as weekly or bi-weekly payments.
- Quick approval: BHPH dealerships can approve financing quickly, which means that people can get a motorcycle faster than if they went through a traditional lender.
Disadvantages of Buying from a BHPH Motorcycle Dealer
While there are advantages to buying a motorcycle from a BHPH dealer, there are also some disadvantages:
- Higher interest rates: BHPH dealerships typically charge higher interest rates than traditional lenders.
- Larger down payment: BHPH dealerships often require a larger down payment than traditional lenders.
- Lower quality vehicles: BHPH dealerships often sell older or lower quality vehicles than traditional dealerships.
- No warranty: BHPH dealerships do not always provide a warranty on the vehicles they sell.
BHPH Motorcycle Dealers in Florida
If you live in Florida and are looking for a BHPH motorcycle dealer, here are some options:
- Florida Motorsports in Tallahassee, FL
- Seminole Powersports in Sanford, FL
- RideNow Powersports in Ocala, FL
- West Orlando Powersports in Winter Garden, FL
- Orlando Yamaha-Kawasaki in Orlando, FL
It's important to do your research before visiting a BHPH motorcycle dealer. Make sure you understand the terms of the financing, including the interest rate, down payment, and payment schedule. You should also research the dealership to make sure they are reputable and have a good track record.
Conclusion
If you have poor credit or no credit and are looking to buy a motorcycle in Florida, a Buy Here Pay Here motorcycle dealer might be a good option for you. These dealerships provide financing to people who are unable to secure financing through traditional lenders. While there are advantages and disadvantages to buying from a BHPH dealer, it's important to do your research and make an informed decision.