A Response to Recent Articles Describing the Actions of the CA Senate and Assembly Committees
The characterization by California lawmakers of BHPH as an industry unfairly taking advantage of the deep subprime customer, neglects to highlight the reality of the BHPH industry as a necessity for what is the riskiest market. BHPH Dealers provide access to transportation to the customer who may not have reasonable public transit options and would otherwise be unable to get financed. Companies like FinCo Management recognize this need and offer finance programs designed to benefit both the dealer and the consumer.
The California legislation is proposing two major changes (in addition to several less burdensome changes) affecting the way BHPH dealers may conduct business.