Yearly bankruptcy total still on track to hit 800K
Thursday, Jul. 9, 2015, 01:52 PM
BHPH Report Staff
There might be less potential buyers coming to your buy-here, pay-here dealership — or current customers in your related finance company’s portfolio — who filed bankruptcy at some point since January. The American Bankruptcy Institute said that total bankruptcy filings ... [Read More]
10 questions BHPH dealers should ask in light of CFPB’s latest rule
Wednesday, Jul. 8, 2015, 07:35 PM
BHPH Report Staff
The Consumer Financial Protection Bureau issuance of the larger participant rule last month came as little surprise to much of the industry. But SecureClose chief legal officer Steve Levine said many buy-here, pay-here dealers and other finance companies may not ... [Read More]
3 questions to ask when assessing first half of 2015 in BHPH
Wednesday, Jul. 1, 2015, 08:21 PM
Ken Shilson, NABD & Subprime Analytics
The first half of 2015 is now complete, and for most buy-here, pay-here dealers it has been extremely challenging. Competition from credit unions and franchised dealers, together with large subprime asset-backed auto finance securitizations, have reduced the market share of ... [Read More]
Roundup: Car-Mart exec extensions & J.D. Byrider expansion
Tuesday, Jun. 23, 2015, 05:58 PM
BHPH Report Staff
Two of the buy-here, pay-here industry’s largest dealership chains — America’s Car-Mart and J.D. Byrider — each released company updates on Tuesday as one extended the contracts of two top executives while the other expanded its footprint into a new ... [Read More]
Equifax removes reporting minimums for NIADA & NABD members
Monday, Jun. 22, 2015, 02:11 PM
Nick Zulovich, Editor
With new survey reports showing independent dealers are fearing a significant decline in customer traffic, Equifax is offering new tools for members of the National Independent Automotive Dealership Association and National Alliance of Buy-Here, Pay-Here Dealers to create what company ... [Read More]
PassTime Raises More Than $10K to Help Employee’s Care
Thursday, Jun. 11, 2015, 05:32 PM
BHPH Report Staff
PassTime, a provider of GPS and payment assurance technology solutions, announced the company raised more than $10,000 during this year’s National Alliance of Buy-Here-Pay-Here Dealers Conference in Las Vegas. Through its “mustache campaign,” PassTime – a key sponsor and exhibitor ... [Read More]
Total Bankruptcy Filings Drop Again Despite Commercial Uptick
Thursday, Jun. 11, 2015, 02:30 PM
BHPH Report Staff
While a portion of the commercial segment made a jump, the American Bankruptcy Institute reported total filings in the United States decreased 19 percent year-over-year in May. According to data provided by Epiq Systems, bankruptcy filings totaled 69,286 last month, ... [Read More]
9 Trends from 2014 BHPH Benchmarks
Wednesday, May. 20, 2015, 10:00 PM
BHPH Report Staff
The 2014 Buy-Here, Pay-Here Industry Benchmarks didn’t exactly paint the rosiest picture — especially with softening unit sales, which for some operators dropped by as much as 33 percent. The nine general trends Ken Shilson spotted when sharing the latest benchmarks ... [Read More]
April Bankruptcy Filings Drop 12%
Tuesday, May. 12, 2015, 01:32 PM
BHPH Report Staff
Impacted in part by the legal costs, the American Bankruptcy Institute indicated total bankruptcy filings in the United States decreased 12 percent in April compared to the same month last years. According to data provided by Epiq Systems, bankruptcy filings ... [Read More]
Wolters Kluwer Financial Services Enhances Platform for BHPH Dealers
Thursday, May. 7, 2015, 04:02 PM
BHPH Report Staff
In an attempt to serve buy-here, pay-here operators, Wolters Kluwer Financial Services released an update to its AppOne platform, including the ability to accommodate multiple payment frequencies. Previously, the software only accommodated a monthly payment frequency. Now, officials highlighted the ... [Read More]