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BHPH Solutions

Discuss solutions for dealers getting into BHPH or thinking about it.

Website: http://www.dealers411.net
Location: Russellville, Arkansas
Members: 126
Latest Activity: Feb 13

Discussion Forum

Using SMS Text Messages for Collections

Started by Dominic McWhorter Aug 23, 2012. 0 Replies

Best practices: collections

Started by Rob Hagen. Last reply by Frank Dec 8, 2011. 7 Replies

How many collectors should we have per # of customers?

Started by Mike "BK" Anthony. Last reply by Brad Sutterfield Apr 29, 2011. 4 Replies

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Comment by Gene Daughtry on June 21, 2011 at 3:45pm
I am on the BHPH Best Practices Panel in Las Vegas on Thursday at the NIADA. Come by and introduce yourself if your going. I would enjoy meeting everybody....I don't get out much. If there is something I can do for you here let me know.
Comment by Mike Speights on January 12, 2011 at 12:27pm
 

My recommendation is Autostar Solutions, this solution includes the ability to run multiple companies, completely integrated accounting, full feature service capabilities and on line payment solutions. Look at autostarsolutions.com 

Comment by lisa stetz on August 17, 2010 at 10:00am
BHPH deralership[ looking for lot manager in cleveland; controller position available in South carolina
Comment by lisa stetz on August 17, 2010 at 9:56am
BHPH dealership looking for sales manager in Erie, PA
Comment by lisa stetz on June 1, 2010 at 9:52am
BHPH dealer looking for a CFO/COO in the midwest!!
Comment by Thomas LaBate on January 27, 2010 at 6:11am
Tina thank you again and I agree with you on this deal.
Comment by Tina Faucette on January 25, 2010 at 9:27am
Thomas. I can only comment on Florida Laws and Florida deals, but in NO circumstances would I ever let this woman get her car back and I would be under no legal obilgation to do so. The only requirement is that the customer has 10 days to pay their car off completely. NOT just catch up. That is the full balance plus repo fee and any other fees which would include the tax I would pay to the state if I so desired. I thought you wanted to let her redeem until I heard some of the other circumstances. The acceleration clause allows you to accelerate the loan if repoed, but you should read carefully, it should give you grounds to repo even if the payments are not late. Say for example her payments were on time, but you knew the car could get impounded due to the tax issue, that to me would be clear cut collateral in jeapordy. Say her insurance cancels (you may not require full coverage but I do), again you should be able to repo the car even if she is current. I try to wait for more than one issue so there is no confusion, but seems like you have a slam dunk and frankly this women fraudulently obtained the vehicle if paying the tax is part of the sale. You would not have sold her the car if you knew she was going to bounce the check for tax and tag. Writing bad checks is illegal and can be prosecuted. Tampering with the tracker shows you #1 she can't be trusted, #2 she intentionally tried to beat you and you have to assume that everything esle she told you was a lie. I tell people about the trackers in the paper work, but they don't read everything. I don't have the buzzers so if someone removes them, I know they went into the deal looking for it and knowingly trying to defraud and specifically went looking for it. Feel free to call me. if you have any questions. 321-279-1212. I can't comment on PA law, but I have been doing this for a long time and I do everything first hand in my business from approvals to collections to dealing with the headaches so I think I have a good sense of things. I can see you are going to have nothing but problems with this account and should count yourself lucky that you got the car back. If nothing else, why take a chance? You do have to be careful though if you are not familiar with the laws, regulations, you contract, etc. These are the types of things that can get you in trouble and these people are the types of people who can get you in trouble. That is partly why I say just be done with them. I worry about those buzzers. I know for example in Florida, and you should check into this, you have to be careful about bankruptcies. If someone goes into bankruptcy we can not try to call or collect or anything. That buzzer would be considered a collection so check into it. That is something that can get you into legal trouble. You have to be careful about certain types of advertising. You can get fined (and we did when we first started for not having a disclosure) for certain things. I see a lot of dealers doing the same thing. Just cause everyone else is doing it doesn't mean its okay. We also had a DMV guy come in one time when we first moved into our new location thinking we were new and didn't know what we were doing trying to force us to give someone a repo back. Telling us a bunch of BS thinking we didn't know better cause we were new. Anyway feel free to keep asking questions. There are a lot of people on here who are happy to help out.
Comment by Thomas LaBate on January 24, 2010 at 12:32pm
Tina I really don't want to put her back in the vehicle. I thought that if she pays her balance and gives me the cash to fund the state Iwould give her the vehicle back. Tina I think what you told me about the installment loan contract, the acceleration clause, I could keep the vehicle. If you agree let me know,I actually asked her why she cannot pay,she told me other bills, but before I give here the vehicle back I want to see those bills and new paystubs to see whats going on. They own there home and its up the street from the dealership. the cid in the vehicle is about $1400, but I understand that this customer is much more of a risk than previously thought. What I do from the begining as I am sure you to, is put these customers in what we call a pink deal. (a cheap car) If they can show the ability to pay we will put them into a nicer vehicle later on, but not this customer. I think your right we should keep the car. In our repo letter we give the customer 15 days to claim the vehicle. I dont think she will have the money. One other thing that bugs me is how they knew how to tamper with the system, more so in a professional matter, to cross the wires not just disconnect the unit. I believe this one will always be a problem. I have been in this business since 1980, but was all cash and finance later sub prime and now bhph for 13 months I dont know all the laws yet pertaining to bhph,how does that work in Fl.
Comment by Tina Faucette on January 24, 2010 at 9:12am
I guess the point is they should just pay on time and they would never have to hear to annoying buzz. I have heard a lot of people really like it. We don't have many accounts so I haven't considered using a buzzer. Its just not that hard for me to do the collections and I would rather they not be reminded that the device is there. For one I don't want them to tamper with it, but also like you said you are going to get the winers and complainers and people who are going to say its making the car break, etc. Its just me and my husband so we have to deal with it all. Thomas, I am curious is it the law in PA that you have to let the customers redeem the vehicles cause that lady you talked about with the bounced check and the late paymens and tampering of the device you mentioned letting her redeem????
Comment by Thomas LaBate on January 24, 2010 at 6:37am
Once the customer is educated on how the system works its not a problem they like it because they believe that it is a good theft device.I like that feature also it really helps with the collections and shuts them off automatically. most of them come in to pay when they are shut down. I have had one problem with the tampering of the system and it happens to be the women we were talking about earlier, thats what made me repo her. First she was late, then she did not tell us the truth. When she tampered with the system. We were still able to locate and then repo the vehicle. Tina as far as payment reminders, if you explain that to your customer the right way they laugh most of them think its a good way to remind them. The ones that complain are the problem child, late all the time and dont want the system on the vehicle. I had one instance where the customer kept telling us that the system was causing problems with the vehicle. After so many complaints about it we removed it he was repoed 2 weeks later. As you know some people just dont want to pay.
 

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