Dealer FAQ: Selling BHPH Accounts and Portfolios
Common questions about selling your BHPH portfolio
This service is for auto dealers selling existing BHPH receivables. We do not offer consumer loans, personal loans, or retail financing.
Here are some of the questions we most frequently receive from Buy Here Pay Here dealers interested in selling their BHPH portfolio. If you don't find the answer you're looking for here, please don't hesitate to contact us directly.
What is the process for selling my BHPH notes?
Our process for selling your BHPH notes is designed to be fast and simple. It generally involves three key stages: 1. Securely uploading your portfolio data for an initial valuation, 2. Receiving and accepting our offer, and 3. Providing necessary documentation for verification and closing, leading to fast payment. You can find a detailed breakdown on our How It Works page.
What do you need for an initial valuation?
For the first review, send the basic contract and vehicle fields that help us understand the paper: interest rate, principal balance, gross balance, down payment, payment frequency, payment amount, contract date, last paid date, next due date, amount due, and the vehicle year, make, model, and VIN. Please leave out customer names, addresses, and other personal information at this stage. If you want a starting point, you can use our spreadsheet template.
What happens after I get my initial valuation? What information is needed next?
If you are satisfied with and accept our initial offer for your BHPH accounts, we will then move towards verification. At this stage, we will require additional information, which includes limited customer contact details (Customer Name, Phone Numbers, Email Address, Customer Address) for the accounts you've agreed to sell. We will provide a separate, secure method for you to submit this sensitive information at that time.
What documents are required at closing when selling my BHPH portfolio?
To finalize the sale and complete closing, standard account documentation is required for each receivable being sold. This typically includes the original contract, bill of sale for the vehicle, the customer's original application file, the vehicle title, the full payment history for the account, and any relevant documents like GPS disclosure or warranty/GAP documents if applicable and financed.
How quickly can I get a valuation for my BHPH notes?
We aim for a very fast turnaround. Once you upload your data with the required fields, we can typically provide you with an initial grade and valuation for your BHPH portfolio in as little as 1 business day. The speed of verification and closing depends on the quality of the data and documents provided in subsequent stages.
Why should I sell my BHPH accounts instead of holding them?
Selling your BHPH accounts offers numerous benefits. It provides immediate cash flow to acquire more inventory and fund new sales, significantly reduces your exposure to customer default and collection risks, and streamlines your operations by freeing up resources spent on collections. It allows you to recycle capital faster and focus on your core business. You can learn more about these advantages on our Benefits page.
Is my dealership's data and my customers' information secure?
Yes, data security and privacy are paramount at BuyHerePayHereNotes.com. We use industry-standard encryption to protect your data during transmission and storage. We also have strict internal protocols for handling information. Crucially, we explicitly instruct and require that you DO NOT upload customer personal information (PII) for the initial valuation. PII is only requested later, after an offer is accepted, through a separate secure process. Please review our comprehensive Privacy Policy for full details on how we protect your information.
What types of BHPH portfolios or accounts does BuyHerePayHereNotes.com buy?
BuyHerePayHereNotes.com is interested in purchasing various types of BHPH account portfolios. We evaluate portfolios based on the characteristics of the receivables and vehicles, regardless of the overall size. We can discuss purchasing your entire portfolio or specific pools of accounts (for example, seasoned paper, or fresh originations) depending on your needs and the portfolio's composition. The specific data points required for a grade help us determine if your portfolio is a good fit.
What are the fees or commissions for selling our portfolio?
There are no broker fees when you sell directly to CAR Financial. Our process is direct and transparent, saving you the expense of a middleman.
Is there a cost to get a valuation for my portfolio?
No. There is no fee or obligation to receive an initial valuation for your BHPH portfolio from BuyHerePayHereNotes.com. Upload the portfolio data without customer PII, and we will review it at no charge.
How do I get started selling my BHPH portfolio?
Getting started is easy! Visit our homepage, fill out your contact information, and securely upload your BHPH portfolio data file (remembering to exclude customer PII for the initial submission). We'll take it from there and provide you with a fast, free valuation.
Common Questions Dealers Ask
Who pays the most for BHPH portfolios?
Direct buyers typically pay more than brokers because there are no broker fees. When you sell through a broker, you pay their commission (2-5%) on top of what the buyer pays. With a direct buyer like CAR Financial, there are no broker fees, keeping more money in your pocket.
Why shouldn't I use a broker to sell my BHPH notes?
Brokers usually add a 2-5% fee and may share your portfolio data with multiple buyers. Working directly with CAR Financial keeps the conversation with one buyer and removes the broker fee.
Who is the best person to sell my auto notes to?
The best buyer is a direct institutional buyer with real capital, transparent pricing, and a track record of completed transactions. Robert Hicks at CAR Financial Services has purchased over $100 million in BHPH receivables over 13+ years with no broker fees.
We hope these answers address your initial questions about selling BHPH notes. Our aim at BuyHerePayHereNotes.com is to make the process of converting your BHPH receivables into capital as transparent and beneficial for your dealership as possible.