Jake C
  • Andover, MN
  • United States
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Jake C's Discussions

Doing your own repos

Started this discussion. Last reply by Mark Marino Aug 7. 2 Replies

I'm a dealer in Minnesota.wondering if anyone can tell me if I need repo insurance if we are doing are own repos?

Finding a new location

Started this discussion. Last reply by Ben Misra (secondarypro) Nov 18, 2012. 3 Replies

What do you do when you are looking for a new lot? I have a few sites i search but its pretty slim these days. Do you look for old gas stations or repair shops; Then see if you can get them zoned?…Continue

BHPH how do you price your vehicles?

Started this discussion. Last reply by nathan king, cpa Aug 1, 2013. 13 Replies

I been in the business for almost 2 years now. My pricing structure was pretty basic however i was only selling cheaper cars. Now im getting into nicer cars spending roughly 1800-2500 per car. I…Continue

collection agency vs judgement

Started this discussion. Last reply by Jake C Jun 16, 2012. 4 Replies

I have been sending some clients to collection agencies when i dont want the car back. Im looking for some insight on those that have been there before. I dont seem to get paid too often from…Continue

 

Jake C's Page

Latest Activity

Mark Marino replied to Jake C's discussion Doing your own repos
"As far as I know you don't in MN. I never carried it and did a fair amount of my own repos. Just make sure you have your ducks in a row first to avoid a bad repo lawsuit."
Aug 7
Dennis Wagner replied to Jake C's discussion Doing your own repos
"Check with your state Dealer Commissioner. If you are a dealer and only doing a repo on your collateral I would think not. In Kentucky we do not."
Aug 6
Jake C's discussion was featured

Doing your own repos

I'm a dealer in Minnesota.wondering if anyone can tell me if I need repo insurance if we are doing are own repos?
Jun 3
Jake C posted a discussion

Doing your own repos

I'm a dealer in Minnesota.wondering if anyone can tell me if I need repo insurance if we are doing are own repos?
May 29
nathan king, cpa replied to Jake C's discussion BHPH how do you price your vehicles?
"Jake, I saw your post from January 2012 about LTO consideration as your next move. If you did go with leasing (and I do like Northland) and are still doing BHPH like this post says please contact me because I have come up with a tax plan that…"
Aug 1, 2013
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…"
May 24, 2013
JAY SAUL replied to Jake C's discussion 175 accounts to report however turned down by Transunion for reporting membership?
"When we signed up you needed 200 open accounts, not sure if that is it or not."
May 6, 2013
Neill Juilfs replied to Jake C's discussion BHPH how do you price your vehicles?
"I would love so clarification: I know enough to get myself in trouble, but not know what I am doing.  I have never offered either, but would like to start offering one or both, especially on BHPH units (10% right now). So you include a warranty…"
May 4, 2013
Jake C replied to Dave Fortney's discussion PROBLEMS WITH CRAIGSLIST - Flagging and blocking
"same issue here. Im getting an error 404 when i tried to post new ads today. That happen on new account with new ip adress as well. I think it might be something with CL"
Mar 13, 2013
Gene Daughtry replied to Jake C's discussion BHPH how do you price your vehicles?
"There is no legally bumping the price. Be Careful! I advise people to decide, are you in BHPH or retail. If you are in BHPH then price accordingly and negotiate for cash deals if you have too. You cannot legally go the other way. I never advertised…"
Dec 12, 2012
Gene Daughtry replied to Jake C's discussion BHPH how do you price your vehicles?
"Jake, Price your cars basically like Shawn said. I would offer a service contract. I have been in the business for 16 years and most of that time I sold and capitalized an ESP on every car. I used a program that has roadside so the rig could get…"
Dec 12, 2012
Shawn Dostie replied to Jake C's discussion BHPH how do you price your vehicles?
"That is how I started, then got greedy. Always remember that you are selling financing, not a car in BHPH. Be sure you are ready to lose the car and any investment in it, before you finance it. There are some I would rather finance with 99 cents…"
Dec 12, 2012
Neill Juilfs replied to Jake C's discussion BHPH how do you price your vehicles?
"Thanks, that is very helpful.  I have no desire (or capital) to go full BHPH, but have considered doing some cars (or a corner) like you suggested."
Dec 12, 2012
Shawn Dostie replied to Jake C's discussion BHPH how do you price your vehicles?
"I tried that before and it is very difficult to do both retail and BHPH out of the same location. I know people that tell the customer that they are adding $2000.00 to the selling price, even though that is illegal. I refuse to do that. In a highly…"
Dec 12, 2012
Neill Juilfs replied to Jake C's discussion BHPH how do you price your vehicles?
"Thanks, that sounds like good advice. It is difficult to keep that positive relationship (and paying on time) without giving too much away.  I do some repair work, but am moving toward a full service department.  I think this will allow me…"
Dec 11, 2012
Shawn Dostie replied to Jake C's discussion BHPH how do you price your vehicles?
"Mine is the standard engine, transmission, drivetrain, internal lubricated parts only however I market an extended service agreement. I offer all of my financed customers oil changes for $15.00 If you would like to call me, my office number is…"
Dec 11, 2012

Profile Information

Company
Jakes auto
Position
president
Dealership, Allied Industry or Finance Company?
Dealership
If Dealership, Franchise or Independent
Independent
Your web site
http://jakesautomall.com
Birthday
January 15

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