"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…"
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Merchant Services
Started this discussion. Last reply by Mike Patel May 2. 10 Replies 0 Likes
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"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…"
David Roesch replied to Lisa Bundy's discussion Merchant Services"Hello Lisa:
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…"
Jeremy Straley replied to Lisa Bundy's discussion Merchant Services"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…"
Jeremy Straley replied to Lisa Bundy's discussion Merchant Services"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…"
Gene Daughtry replied to Lisa Bundy's discussion Merchant Services"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…"
Lisa Bundy replied to Lisa Bundy's discussion Merchant Services"What do those charges run (as a percentage of collected)? Or are they flat regardless of amount, just a per charge?"
JOHN MARK replied to Lisa Bundy's discussion Merchant Services"I USE PAY SIMPLE. EVERYTHING IS ELECTRONIC. NO MACHINES NEEDED. I PAY A MONTHLY FEE AND ACCEPT VISA/ MASTERCARD/ AMERICAN EXPRRESS. THERE ARE EXTRA CHARGES FOR USING AMERICAN EXPRESS."
Lisa Bundy replied to Lisa Bundy's discussion Merchant Services"Thanks Jeremy. Do you know who are the main players in this market? And are those rates negotiable depending on volume?"
Jeremy Straley replied to Lisa Bundy's discussion Merchant Services"Hi Lisa,
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.…"
Lisa Bundy posted a discussionMerchant Services
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
Lisa Bundy replied to Peter Ford's discussion Need advice on CAC"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…"
Lisa Bundy replied to Timothy Brillant's discussion 57 Year old Dealership to be run by 24 YO HELP! Process and structure PLEASE!"Hi Timothy,
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…"
Lisa Bundy joined Curtis A. DeGroote's group
Database Marketing Crosstalk
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
Lisa Bundy joined Kevin Day's group
F&I Processes & Products
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
Profile Information
- Company
- CarGirl
- Position
- consultant
- Dealership, Allied Industry or Finance Company?
- Allied Industry, Finance Company
- If Dealership, Franchise or Independent
- Not Applicable
- Your web site
- http://cargirltraining.com
- Biography/Work Summary
- 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.
- Favorite Quote
- 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.
- Birthday
- September 27
Comment Wall (1 comment)
- At 8:01pm on March 29, 2012,
Kathi Kruse said… Oh yeah, us car gals gotta stick together...we rock!
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