: Regulates how the dealer (as the creditor) can collect on late payments or conduct repossessions. State-Specific Regulations
State laws often provide more targeted restrictions on BHPH operations: Putting the Brakes on Buy Here, Pay Here Dealerships buy here pay here car lot laws
: Prohibits dealers from discriminating against applicants based on race, religion, sex, marital status, or age. : Regulates how the dealer (as the creditor)
: Dealers must provide a written contract that clearly discloses the APR , total finance charge , amount financed , and the total sale price of the vehicle. total finance charge
Buy-here-pay-here (BHPH) dealerships are subject to a combination of federal consumer protection acts and specific state-level regulations because they act as both the auto seller and the lender.