Legal definitions, such as those used by the California DMV , often characterize a BHPH dealer by two primary criteria:
: As of recent market research, there are roughly 33,000 such lots in the U.S., compared to 22,000 new car dealerships. buy here pay here definition
Academic and economic reviews, such as those featured on Investopedia and Governing , identify several defining traits of this model: Legal definitions, such as those used by the
: These dealers focus on "subprime" borrowers with poor or no credit history who have been denied by traditional institutions. there are roughly 33