"I am a small car lot. So occasionally customer would want to pay their whole purchase on a credit credit it if it is a vehicle less than $5k. I use Square becuase they only charge 2.5% and I just pass the service fee on to the customer, so I dont…"
"We use Merchant E Solutions, we average about 1.45% month in and month out, we do bh/ph so there are a lot of cards not present, but, they have a company called payeverywhere that processes the card without that fee. We do 60,000 or so per month…"
We use 1st American Services and their claim, true or untrue, is as follows:
No Application Fees - No Cancellation Fees
No Contract Term Length - Guaranteed Lowest Prices
Starting at just 1.45%, our rate structure is designed to offer…"
"Good points Gene, How you are handling the transactions affects the rates greatly. For example, a BHPH has a lot of Card-Not-Present Transactions, which can increase the interchange rate by 0.30% or more. My earlier comment was more…"
"LOL, everything is negotiable right? I would definitely negotiate and see who will give you the best terms. Keep in mind that they have costs and overhead just like you do so there will need to be some room for…"
"For years I have used Paymentech. I operated a BHPH dealership that handles about 4000 total payment transactions per month (cash, check, cc). It has been a few months since I looked at a statement. Of course you pay different…"
I've worked in the merchant service industry for years.
When it comes to what a dealership is paying for for card acceptances there are many ways to look at it, but the best way is to figure your effective rates.…"
I am writing a survey for a client and need to know about some of the merchant service providers and what they are charging? Particularly on the dealership side (franchise or independent).Thanks,Lisa BundyCarGirl, Inc.904-472-7930See More
"Try creditsmarts.com. It is a lending platform that is designed for the smaller independent dealer. It puts them in touch with finance sources in their area. If you will call me, I was an independent and have worked in every aspect…"
You are in a great place and I am soo jealous, you see 20 years ago I was in the same place. You will find that everyone has good ideas but not all will fit your business or customers. Hopefully you will learn to research…"
A small & concentrated group of industry experts that have a willingness to share and learn from each other. Heavily focused on Dealer feedback and related to Database Marketing efforts for Service and Sales - all media typesSee More
This group is to exchange ideas on best practices in the finance office. What products are selling the best. Which service contract companies are hot, and which are not. Share menu training ideas, processes, lenders, and much more!See More
A true "CarGirl", I grew up with a car dealer dad and a banker mom. With 2 sisters in tow we learned to buy, sell and collect just like the "big boys". I have spent the last 20+ years opening and running used car departments, managing finance companies and developing sales and marketing departments, and truly say that I love this business and everything about it.
I never did a day's work in my life. It was all fun.
Thomas A. Edison
Activities Away From Work
Digging in the dirt, photographing old cars and antique shopping.
Comment Wall (1 comment)
You need to be a member of Auto Dealer People to add comments!