Need help with pricing - just signed up with Credit Acceptance (CAC)

I'm looking for other people's feedback with the pricing issue I'm having now that we signed up with CAC. We are a very small BHPH lot. I do a few cash sales nothing to write home about. We're in a rural very low income location. Being family owned and having hardly no over head we were able to price much lower than any competition. That was the only advantage we had, that and doing BHPH. We were pricing ourselves out of business though. We were getting hit too hard with losses (customers not keeping insurance and wrecking cars, skips, not maintaining cars blowing motors and transmissions, auction cars needing too much recon.) We decided to go with CAC to get out of having so much of our own money on the streets and be able to sell slightly newer more reliable cars. 

I thought the customers would swarm in to our newer model cars and offers of guarnateed credit approval. But so far, quite the opposite has happened. Our lot has become a ghost town. I know this is a slow time of year and we had hardly no tax refund season, but still. 

I think most of it has to do with the sticker shock. We were told by our rep not to put prices on the cars only advertise down payments or monthly payments. Sounded great because before we signed up the ONLY question anyone asked was "how much down." Well now all of a sudden everyone wants to know the total price. It's hard to look at someone with a straight face and tell them a price that's $2500 over high retail. 

For example here are the suggested prices we were told these cars should go for:

2000 Mazda B4000 pickup $9,000-/+ (we had $4750)
2003 Honda Civic $8,300-/+ (we had $4500)
2005 Dodge Ram $12,500 (we had $7,600)
2006 Chevy Trailblazer $9,200-/+ (We had $5995)
2007 Impala $9,250-/+ (We had $6450)
2008 Impala $9,800-/+ (We had $6995)

Really? We were like 1/3 to 1/2 less on each one. Customers are not seeming to respond to well. Anyone have advise?  

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I would run from CAC. I have done everything by the book my collections are 72% and fees that were never discussed at sign continue to show up on my monthly dealer statement or if they were discussed they have increased anywhere from $50-$350 a month. If you use CAC make your money in he front end and never anticipate backend money. If you get any it's a bonus. I closed my first pool in 2012 and my second in 2013. Received PPE checks which were nice but now watching my hard work dwindle away to CAC fees to make the company profitable. The CEO made a 52 million dollar salary last year, biggest pyramid scheme ever.

I disagree with the above post.  They take 20% of what they collect, if they sue someone on your behalf, you get charged filing fees etc.  It is a BHPH without you having to do any of the work other than sell the car.  We send them 5 deals a month and have made about 100k so far in portfolio profit.  Another $350k is on the way.

You can optimize your entire business for cac if you want.   If you are already doing BHPH then their process should line up pretty well.  Regarding pricing, put some vehicles at cac pricing and rest at yours.

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