dealerships http://michiganradio.org en 6 tips on "Buy Here-Pay Here" car lots http://michiganradio.org/post/6-tips-buy-here-pay-here-car-lots <p>Yesterday, we brought you the story of <a href="http://www.changinggears.info/2012/01/26/buy-here-pay-here-get-a-ride-but-dont-be-taken-for-one/">Buy Here-Pay Here dealerships in the Midwest</a>. These are places where the dealer finances car loans himself (BHPH is sometimes called in-house financing.).</p><p>Basically, he is the bank and he takes on all the risk. That&rsquo;s especially true because BHPH dealers cater to people with bad credit &ndash; deep subprime customers who typically have credit scores less than 550.</p><p>It&rsquo;s not hard to find people who are out of luck, out of work, and grateful for the opportunity to finance a car at all. But that opportunity comes at a steep price, which is either folded in or added on in the form of interest rates up to 25 percent.</p><p>So here are&nbsp;<strong>six tips to consider if you&rsquo;re thinking about Buy Here-Pay Here</strong>: Fri, 27 Jan 2012 16:53:47 +0000 Kate Davidson 5975 at http://michiganradio.org 6 tips on "Buy Here-Pay Here" car lots Most customers think their new car dealers are honest http://michiganradio.org/post/most-customers-think-their-new-car-dealers-are-honest <p>Most people think their dealerships are being honest about recommended repair and maintenance work.&nbsp; That&rsquo;s &nbsp;according to an annual survey by J.D. Power.&nbsp;&nbsp;</p><p>J.D. Power says only 7% of people say their dealer tried to sell them maintenance or repairs they didn&rsquo;t need.&nbsp; The practice is called &ldquo;upselling.&rdquo;</p><p>Research director John Obsborn says customers&rsquo; satisfaction with dealerships has been steadily improving for a decade:</p><blockquote><p>&quot;&nbsp;Unfortunately there are many stereotypes out there about the dealers --&nbsp;but our data indicates that they provide high levels of satisfaction both in the servicing of vehicles and the selling of vehicles.&quot;</p></blockquote><p>Osborn says vehicle quality has also been improving for the past ten years &ndash; and that tends to increase people&rsquo;s satisfaction with their dealerships, who don&rsquo;t have to give&nbsp;customers bad news in the form of high repair bills as often.&nbsp; &nbsp;</p><p>The survey found little difference among perceptions of upselling between brands, luxury and non-luxury vehicles, or between men and women.&nbsp;</p><p>Younger customers were, however, more likely to think their dealership was trying to sell them an unnecessary repair or maintenance. Mon, 14 Mar 2011 02:20:32 +0000 Tracy Samilton 1630 at http://michiganradio.org