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George T. Klinke
- San Diego, CA
- United States
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George T. Klinke's Groups
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BHPH Solutions
110 members
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Used Vehicle Group
293 members
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Auto Finance Companies
248 members
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Ren’T’Own® Leas…
144 members
George T. Klinke's Discussions
Congress Considers More Dealer Regulation
This is disturbing and has some potentially catastrophic implications. Everyone needs to be proactive ( and don't rely on someone else to do it) in contacting your congressman to express your displea…
Tagged: regulation, frank, congress
Replied Oct. 15, 2009
Lessor Liability up to State Minimums
I am trying to determine if in any states the Lessor has liability up to the state minimums for financial responsibility if the Lessee lets their insurance lapse. Has anyone doing LHPH out there ever…
Started Oct. 8, 2009
George T. Klinke's Page
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Tina, in FL if you did leasing you could get around the huge amount of taxes going to the state up front. Just a thought.
I just laughed and I cried. Thanks Ben
Cash flow and capital are what drive the profits of the dealers who properly control their BHPH business model. However, sufficient amounts of both are hard to come by in the current economic environment. Increasing average ACV is constantly devouri…
Cash flow and capital are what drive the profits of the dealers who properly control their BHPH business model. However, sufficient amounts of both are hard to come by in the current economic environment. Increasing average ACV is constantly devouri…
DIscuss solutions for dealers getting into BHPH or thinking about it.
John,
My name is George Klinke and I work for a company called LHPH. We have just started working with some prospects in Texas and I would be happy to share what we understand and learn from what you have been doing. If we can't get enough response…
We have had some discussions with Prime Eagle in the past comparing how they approach the business and how our company, LHPH, does business. Obviously, depending on your needs and goals, there are a few different ways to approach doing Lease Here, P…
This is disturbing and has some potentially catastrophic implications. Everyone needs to be proactive ( and don't rely on someone else to do it) in contacting your congressman to express your displeasure.
Another way to prepare for whatever happens…
David,
It appears to me that dealers and BHPH dealers may want to me moving into leasing as participating in the finance income does not seem to apply. It does appear that return of the vehicle does apply to both lease and conditional sales.
Thanks…
I am trying to determine if in any states the Lessor has liability up to the state minimums for financial responsibility if the Lessee lets their insurance lapse. Has anyone doing LHPH out there ever been sued for this?
George
I am trying to determine if in any states the Lessor has liability up to the state minimums for financial responsibility if the Lessee lets their insurance lapse. Has anyone doing LHPH out there ever been sued for this?
George
Skip,
Did you notice the other suggestions earlier in the string of replys?
George
Skip,
If you are trying to get a line of credit, these guys might be worth a call:
Prima Lend Capital Group, Inc.
Bill Benac - CFO
Bill@Primcapi.com
972-239-6668
Good luck,
George
Skip,
What is the lessor liability for the state financial responsibilities minimums in TN if the lesse's insurance lapses?
Thanks,
George
Kevin,
LHPH is available in PA with Contingent and Excess Liability. There are many other aspects to consider when becoming a lessor and in PA there are some additional "Sales Tax" issues to be aware of. If you want to explore this further, please f…
Used cars, used trucks, certified pre-owned, cream puffs, you name we can talk about it here. A group to help dealers focus on one of the most important profit centers of a dealership.
Profile Information
- Company
- LHPH
- Position
- Director, Business Development
- Dealership, Allied Industry or Finance Company?
- Allied Industry
- If Dealership, Franchise or Independent
- Not Applicable
- Your web site
- http://www.lhph.com
- Biography/Work Summary
- Over 30 years in the auto finance industry. GE Capital, Ford Motor Credit, Household Auto Finance, First American Corp., Integris Financial and currently LHPH.
George T. Klinke's Blog
The Cash Flow Challenge
Cash flow and capital are what drive the profits of the dealers who properly control their BHPH business model. However, sufficient amounts of both are hard to come by in the current economic environment. Increasing average ACV is constantly devouring capital. According to NABD, “in 2008, the average cash in deal exceeded $5,000 for the first time in the last 10 years, according to industry benchmarks.” With more dollars going out for higher ACV vehicles and with down payments remaining static,… Continue
Posted on December 22, 2009 at 7:05pm —
Comment Wall (1 comment)
- At 10:28am on December 1, 2009,
Gene Daughtry said… - George thanks for joining our group. I have found there to be alot of talented people on this site. I will learn something from everyone I'm sure. If I can do something for you let me know.
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