Travis Griffis
  • Male
  • Cuba, AL
  • United States
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Travis Griffis's Discussions

How to protect my investment into a car dealership.

Started this discussion. Last reply by Jay Jul 8. 1 Reply

I'm considering being a source of funds to a car dealer who will purchase inventory up to the amount I'm willing to loan out, who will in turn, repay me when a car is sold plus interest. My question…Continue

Need help with pricing - just signed up with Credit Acceptance (CAC)

Started this discussion. Last reply by Brandon Gonsalves Aug 17. 3 Replies

I'm looking for other people's feedback with the pricing issue I'm having now that we signed up with CAC. We are a very small BHPH lot. I do a few cash sales nothing to write home about. We're in a…Continue

Any lenders for older lower price vehicles?

Started this discussion. Last reply by Chad Shipp - ShippMedia.com Aug 6, 2015. 2 Replies

I pretty much already know the answer here is no, this is my 3rd year as a lot owner and I've sold cars most of my life. But my question is, does anyone know a lender who will finance lower priced…Continue

Selling a vehicle before title comes in

Started this discussion. Last reply by Kelvin Johnson Mar 22, 2016. 2 Replies

I have been in business going on my 3rd year now. This has never been much of an issue for me until recently we started using a floor plan to buy more vehicles and attending different auctions. One…Continue

 

Travis Griffis's Page

Latest Activity

Brandon Gonsalves replied to Travis Griffis's discussion Need help with pricing - just signed up with Credit Acceptance (CAC)
"I disagree with the above post.  They take 20% of what they collect, if they sue someone on your behalf, you get charged filing fees etc.  It is a BHPH without you having to do any of the work other than sell the car.  We send them 5…"
Aug 17
Brandon Gonsalves replied to Travis Griffis's discussion Need help with pricing - just signed up with Credit Acceptance (CAC)
"You can optimize your entire business for cac if you want.   If you are already doing BHPH then their process should line up pretty well.  Regarding pricing, put some vehicles at cac pricing and rest at yours."
Aug 17
Scott Parrott replied to Travis Griffis's discussion Need help with pricing - just signed up with Credit Acceptance (CAC)
"I would run from CAC. I have done everything by the book my collections are 72% and fees that were never discussed at sign continue to show up on my monthly dealer statement or if they were discussed they have increased anywhere from $50-$350 a…"
Aug 12
Jay replied to Travis Griffis's discussion How to protect my investment into a car dealership.
"Just do it like how all flooring companies do it. Hang on to the title until the unit sells. Make sure to file a ucc filing to protect your interests and secure the capability to seize the vehicles. I'd suggest looking into some help with your…"
Jul 8
Travis Griffis posted a discussion

How to protect my investment into a car dealership.

I'm considering being a source of funds to a car dealer who will purchase inventory up to the amount I'm willing to loan out, who will in turn, repay me when a car is sold plus interest. My question is should I put the funds into a holding company such as an LLC or how else would I go about protecting my investment? I'm essentially acting as their floorplan company. I have no question of the dealerships morals or abilities, I have reviewed all their financials and they do currently have a floor…See More
Jul 3
Travis Griffis posted a discussion

Need help with pricing - just signed up with Credit Acceptance (CAC)

I'm looking for other people's feedback with the pricing issue I'm having now that we signed up with CAC. We are a very small BHPH lot. I do a few cash sales nothing to write home about. We're in a rural very low income location. Being family owned and having hardly no over head we were able to price much lower than any competition. That was the only advantage we had, that and doing BHPH. We were pricing ourselves out of business though. We were getting hit too hard with losses (customers not…See More
Jun 24
Travis Griffis replied to Michael Clinton's discussion Is anyone successfully using Credit Acceptance Corp?
"Congrats on your success. We are also a small independent dealer. Mostly BHPH, very few cash deals (same scenario you described with cash.) We just signed on with CAC. I have a question for you. How are you pricing your vehicles? I was told to take…"
Jun 20
Travis Griffis posted a blog post

Anyone using Ace Motor Acceptance BHPH In a box?

I'm interested in hearing anyone's experiences with using Ace Motor Acceptance's "BHPH in a box" program.Can anyone compare them against Credit Acceptance? I'm interested in what they charge to do business, rates and terms etc. See More
Jun 18
Travis Griffis replied to Michael Clinton's discussion Is anyone successfully using Credit Acceptance Corp?
"It has been a while since this was posted. I'm interested in hearing how it's going with Credit Acceptance from some of the people from this discussion. I'm a very small dealer just signed up with them this week. It took me 3 years of…"
Jun 8
Kelvin Johnson replied to Travis Griffis's discussion Selling a vehicle before title comes in
"Is it possible to ask to rush the title process?"
Mar 22, 2016
Clint Jones replied to Travis Griffis's discussion Making a profit with Westlake
"Class 1-3 vehicles helps a lot. The thing that you have to look for is vehicles that have a wide spread between Retail and Cost.  That sounds awesome doesn't it!  Sooooooooo......where the hell do you get those? Hail damaged units…"
Dec 28, 2015
Ted Edwards Jr "TJ" replied to Travis Griffis's discussion Making a profit with Westlake
"They're like any other sub man....I've cleared 4 pounders, and I've seen it lose money...no real rhyme or reason with Westlake that you can see w/ the naked eye...they have some sort of scoring algorithm like Credit Acceptance that…"
Nov 11, 2015
Jacque Triplett replied to Travis Griffis's discussion FInanced Vehicles ending up in Mechanic Shops/Wrecker Yards
"Travis,I know of a program that would allow you to get paid for those vehicles while setting up those customers on a payment plan. Knock out about 40% of your receivables.Give me a call 1-877-588-3216"
Oct 3, 2015
Neill Juilfs replied to Travis Griffis's discussion FInanced Vehicles ending up in Mechanic Shops/Wrecker Yards
"What gps device do you use?  Do you have a contact name and number?"
Sep 1, 2015
Chad Shipp - ShippMedia.com replied to Travis Griffis's discussion Any lenders for older lower price vehicles?
"Credit Acceptance Corporation and Go Financial."
Aug 6, 2015
Clint Jones replied to Travis Griffis's discussion Any lenders for older lower price vehicles?
"I will never criticize you for asking any type of question. I would say that your best bet would be to pursue a relationship with a BHPH type of lender that will extend you a line of credit based upon the track record of your existing BHPH accounts.…"
Jul 30, 2015

Profile Information

Company
Cuba Auto Sales, LLC
Position
Owner
Dealership, Allied Industry or Finance Company?
Dealership
If Dealership, Franchise or Independent
Independent
Your web site
http://www.cubaalauto.com
Birthday
October 6

Travis Griffis's Blog

Anyone using Ace Motor Acceptance BHPH In a box?

Posted on June 18, 2017 at 7:44pm 0 Comments

I'm interested in hearing anyone's experiences with using Ace Motor Acceptance's "BHPH in a box" program.

Can anyone compare them against Credit Acceptance? I'm interested in what they charge to do business, rates and terms etc. 

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