I’m curious about how buy here pay here (BHPH) dealerships interact with credit bureaus. Specifically, do these dealerships report my payment history to credit bureaus, and if so, how can this affect my credit score? Any insights would be appreciated!
Not all BHPH dealerships report to credit bureaus. It largely depends on the dealership’s policy. Some choose not to report at all, while others might report only negative information, like missed payments. This means that even if you’re making consistent, on-time payments, it might not help boost your credit score if they don’t report it. If you’re dealing with one that does report, timely payments can potentially help rebuild your credit. Always ask the dealer about their reporting policy before signing any agreement, so you can make an informed decision based on your credit improvement goals.