Shilson: 11 Strategies for BHPH Success from a Financial Perspective
Thursday, Jul. 17, 2014, 07:02 PM
Ken Shilson, Subprime Analytics and NABD
Success in buy-here, pay-here is frequently measured by how many vehicles a dealer sells each month or year. Although sales are important, this commentary will focus on other areas which are important to BHPH success. “Keeping them sold” is important ... [Read More]
Consumers Not Just Choosing Vehicles Online, But Paying Online, Too
Tuesday, Jul. 1, 2014, 04:01 PM
Marya Lang, BillingTree
According to the most recent study from the Federal Reserve, the average new-vehicle loan in the U.S. stands at more than $26,700 with a loan to value ratio of a huge 80 percent. So the volume of payments which are ... [Read More]
10 Questions to Ask About Converting Data When Switching DMS
Thursday, Jun. 26, 2014, 03:42 PM
Mike Downey, Auto Master Systems
If you’re preparing to switch dealer management software, there are many things to consider as it relates to converting your data. How complete your data is in your new application will determine how effectively you can use the software. Here ... [Read More]
LotVantage’s 5 Recommendations For eBay Classifieds Listings
Tuesday, Jun. 24, 2014, 05:13 PM
Jim Jabaay, LotVantage
With any new product and marketplace there’s a learning curve, and we’ve recently gained more knowledge about what it takes to manage the “art” of posting to eBay classifieds. We want to share the Top 5 Best Practices we’ve learned ... [Read More]
Happy Associates And Profit Go Together
Tuesday, Jun. 24, 2014, 05:10 PM
Gene Daughtry, PLS Financial
A new study recently coming out of Warwick University has concluded that happiness levels can increase productivity by a staggering 12 percent. To me, this seems obvious, but I have seen many work places where you can feel the tension ... [Read More]
Do Online Reviews From Customers Really Matter In BHPH?
Tuesday, Jun. 24, 2014, 04:58 PM
Kenny Atcheson, Dealer Profit Pros
When asked about online reviews, buy-here, pay-here dealers typically offer one of these six responses. Here they are in random order: 1. Our customers don’t read online reviews. 2. There is nothing we can do about it because the BHPH ... [Read More]
Car-Mart Sacrifices Some Q4 Sales To Get Higher Downs
Tuesday, Jun. 24, 2014, 04:48 PM
Nick Zulovich, Editor
America’s Car-Mart president and chief executive officer William “Hank” Henderson cheered one specific financial metric after the buy-here, pay-here dealership chain wrapped up its 2014 fiscal year on April 30. And Henderson did so even though the way Car-Mart reached ... [Read More]
Key Takeaways From NABD’s Buy-Here, Pay-Here Week
Tuesday, Jun. 24, 2014, 04:43 PM
Ken Shilson, NABD and Subprime Analytics
The National Alliance of Buy- Here, Pay-Here Dealers (NABD) recently completed two BHPH training conferences which were held at the Wynn Las Vegas on May 18 through 22. These two conferences included more than 100 speakers and approximately 1,700 attendees ... [Read More]
CFPB Interest In BHPH Dealers Growing Steadily
Tuesday, Jun. 24, 2014, 04:35 PM
Nick Zulovich, Editor
Maybe you heard it spoken in a 20 group meeting or around the lunch table at the auction. There's one buy-here, pay-here operator telling another, "I'm not worried about the CFPB. I'm just a small guy with 20 cars on ... [Read More]
Hall Of Fame Inductee Codding Describes Impact Of BHPH
Tuesday, Jun. 24, 2014, 04:31 PM
Nick Zulovich, Editor
The newest member of the Buy-Here, Pay-Here Hall of Fame explained the impact BHPH operators have by sharing the story about a vehicle delivery that wasn’t even a special finance deal. In fact, the delivery was for a $400,000 vehicle ... [Read More]