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Latest Activity
David Moore commented on Charlie Hernandez's blog post Looking for a Used Car Warranty"Yes I use Cars protection too, been good so far....."
Jared Bell replied to Jay's discussion Old bhph guy in Ca looking for alternatives."I average a $1000 - $2000 front end profit a deal. Just closed one today for $2200 front end profit."
Don Rice posted a blog postChoosing Your Used Vehicle Inventory
Many dealers stock their sales lot with whatever car or truck they come across that seems to fit their budget. Some buy only imports, or heavies, or sports cars. For maximum sales none of these maximize your sales and profit as well as following an inventory control system. Decide what amount of inventory you are going to stock, and the price range of these vehicles. Then break down the local market on what is selling. Sometimes you can get a copy of the recent few months sales from the Tax…See More
Don Rice replied to Jake C's discussion BHPH how do you price your vehicles?"You only need an extended service policy or warranty as some call them, not both. To start out use a good warranty provider and either sell the warranty to your buyers or include it in the price. The secret to success in the note business is to sell…"
Jay replied to Jay's discussion Old bhph guy in Ca looking for alternatives."Cap requires huge commitment for folks that want to spend an avg of 1.5 years before finally "realizing" any true "profit""
Jared Bell replied to Jay's discussion Old bhph guy in Ca looking for alternatives."Look into Credit Acceptance www.creditacceptance.com ;"
Jared Bell commented on Charlie Hernandez's blog post Looking for a Used Car Warranty"Try CARS Protection plus. They have a 90 day power train warranty for $99. They also have serveral other packages with different coverages and terms. I've been using them for over a year and very satisfied. "
Kenny Atcheson replied to Jay's discussion Old bhph guy in Ca looking for alternatives."Hi Jay.
This week I spoke at the NABD in Las Vegas and spent a considerable amount of time training others and educating myself as well. I did not have this conversation directly but I think I overheard someone talking about Leasing as a…"
DAN SULLIVAN posted a discussionMONEY FOR BHPH DEALERS IN GEORGIA IN NOW AVAILABLE!!!!!
I have an innovative product for established BHPH dealers in Georgia.Please contact me at 678-227-0260. DanSee More
Dave Hord replied to Jay's discussion Old bhph guy in Ca looking for alternatives."Northland RTO/LTO has a program you may be interested in as an alternative to bhph.
Go to the web site: http://www.northlanddealers.com/default.htm or call Dave at 1-800-879-3433"
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Forum
WHY THE DIFFERENCE IN PRICE?
Started by Gene Daughtry May 16. 0 Replies 2 Likes
The temptation is great. Commissions at stake. The customer is willing. Just raise the price enough and let's get them into financing.Of course, this is illegal if you have already quoted one price or your vehicle is priced in an ad online or in…Continue
Tags: Daughtry, NCM, Associates, SpiFi, Gene
New Vehicle VDP's
Started by Irwin Toyota Ford. Last reply by Tom LaPointe May 13. 1 Reply 0 Likes
Does anyone have any examples of NEW car inventory merchandised very well to drive VDP’s?1. Competitive Price2. Video3. Quality Pics4. Seller’s NotesSpecifically, I’m looking for dealers who have done a standout job with seller’s notes to customize…Continue
Which units to buy for Westlake
Started by Mark Marino. Last reply by Brian K. Martin May 18. 3 Replies 0 Likes
I've recently signed up to Westlake. Haven't been trained yet. I'm just looking to see which vehicles work best with the program. I currently run a cash/BHPH lot, Westlake is the first subprime lender I've ever worked with. I currently stick to the…Continue
How to take advantage of big event at our Fair Grounds
Started by Frank. Last reply by Frank Apr 27. 4 Replies 0 Likes
Getting set up with five car spots for semi annual Swap Meet put on by Chamber of Commerce at our Fair Grounds. Very popular local event we will be right on the main entrance.Would like to make this a BIG Event !!! I would like to give away a…Continue
Tags: marketting
I need floorplanning!!
Started by James Dalrymple. Last reply by CHRIS Apr 29. 11 Replies 0 Likes
I have a dealership in GA. I have been open for about 8 months. My partner and myself have been using cash to buy vehicles. I would like to get floorplanning from somebody, anybody so I could have more freedom to purchase vehicles. We are pretty…Continue
Websites
Started by Irwin Toyota Ford. Last reply by David Ortiz Apr 25. 14 Replies 0 Likes
I’m looking for a company to build 3 websites/microsites (mobile version included) for my Bodyshop, Quicklane, and a Credit Challenged related site. Any suggestions of comapnies that do a good job with SEO, unique content, and flexibility?Continue
Start up cost ? with current $25k in flooring.
Started by Erick Chavez. Last reply by Konrad Czer May 3. 8 Replies 2 Likes
Hi guys, OK so a little about me, I've been in sales since i came out of high school, 10 years now, Just got my dealers license a year ago, I've done everything from the bottom up. Sales, Closer, Finance, Desk manager, manage inhouse deals, and…Continue
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Blog Posts
Secondary Finance Pay Plan
Posted by David Disbrow on April 16, 2013 at 11:30pm 4 Comments 0 Likes
In a new car and truck dealership, what is a good payplan for a secondary finance manager with 3 secondary salespeople under him? Also, how would you pay the salesperson who first greeted the customer? There always seems to be discord between the primary dept and secondary department. Are there any suggestions to bring harmony to the 2 departments?
Any and all suggestions are welcome
Disclose credit reporting to customers
Posted by Grace Romero on April 9, 2013 at 4:26pm 11 Comments 0 Likes
Hey Everyone.
We just got approved to report with Transunion (2-3 months waiting period for testing)
My question is now that will be reporting do we need to notify customers and is there a certain text/disclousure/law we must include in our notices to our customer?
Not too many resources online for this and any help is greatly appreciated!
We just got approved to report with Transunion (2-3 months waiting period for testing)
My question is now that will be reporting do we need to notify customers and is there a certain text/disclousure/law we must include in our notices to our customer?
Not too many resources online for this and any help is greatly appreciated!
Designing Promotions for Your BHPH Dealership - Part 2
Posted by Alan Mosher on March 28, 2013 at 12:09pm 1 Comment 1 Like
Part 2 - Collections Promotions
As I said in the first part of this series here, properly designed promotions are more fun than advertising. Promotions should involve your employees, your customers, friends, family, neighbors, etc. All promotions should be done in a festive atmosphere. Plan the promotions so that as many customers as possible are…
Used Car University's Facebook Page Needs YOU!
Posted by Brett Houchin on March 27, 2013 at 3:30pm 0 Comments 0 Likes
Hello Auto Dealer People, this is Brett Houchin with Used Car University. I wanted to let everyone know that we have the Used Car University Facebook Page up and running, and we would love to encourage everyone here to come by, LIKE our page and comment and contribute to any discussions, posts, blogs, photos or video to help educate each other and anyone who can find the…
Continue 10 Key Characteristics of the BHPH Customer
Posted by Alan Mosher on March 21, 2013 at 2:01pm 1 Comment 1 Like
It is easy to sell more cars in the Buy Here-Pay Here industry. All you have to do is say “Yes”. The challenging parts are knowing which customers to say “Yes” to and how to collect the balance of the loan.
In order to make that decision, there are 10 Key Characteristics that are important…
Continue So you're interested in BHPH
Posted by Gene Daughtry on February 19, 2013 at 3:00pm 4 Comments 1 Like
You keep hearing that dealers are making good profits in Buy Here Pay Here. You have decided that you would like to pursue the business. What is your next step? After all you may have been in the car business for years. You understand buying and selling cars. You know how to run a compliant Finance Department and a profitable shop. Isn’t BHPH or LHPH just other ways of financing cars? The answer is not… |
Training and Attitude Are the Keys
Posted by Gene Daughtry on January 29, 2013 at 3:07pm 0 Comments 0 Likes
Training and Attitude Are the Keys to a Smoothly-Run BHPH Operation
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Do you enjoy what you do each work day? Maybe I’m a little “off,” but I enjoy the craziness of a very busy day. You know—the days where so many folks are on the lot it reminds you of a county fair. Everybody’s phones are ringing almost nonstop. There is a line at the…
CFPB Director's Appointment in Question
Posted by Randy Henrick on January 28, 2013 at 5:32am 7 Comments 3 Likes
The D.C. Circuit ruled last week that President Obama did not have "recess appointment" authority to appoint members of the National Labor Relations Board in January 2012, the same time as he appointed Richard Cordray to be Director of the CFPB. Cordray was also a recess appointment. The Court ruled that Congress was technically in session. This ruling will be appealed but it may slow down some of the CFPB's initiatives including its auto finance initiatives. Cordray has indicated that…
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