Deceiving and defrauding customers is one easy way to get the attention of your state attorney general. Tom Hudson details how and why one dealership paid big for engaging in illegal practices.
Managing two aspects of a business at once may seem like it saves you time, but Author David Keller points out that’s not the case in BHPH. Without 100-percent focus on the task of collections, repossessions and delinquency rates will increase dramatically and profitability will decrease quickly.
At The Car Store, Dealership Owners Greg Johnson and Ed Wilgus have worked to grow their two-store BHPH operation to encompass a wider spectrum of customers. Read on to discover how they moved beyond BHPH and now work with all customers in all credit tiers.
Customers who visit your showroom but don’t buy leave for a number of reasons. Author Greg Wells discusses methods that can help a BDC or dealership get unsold floor traffic back in through effective outbound calls.
Mark Dubois - While the buy here pay here business is a challenge and involves many factors (like compliance, capital and cash flow, to name a few), it’s a business that offers a lot of opportunity to dealers who run their business right.
Internet and e-Marketing Director Joe Chura breaks down what a dealership would need to shoot professional-grade video at a fraction of the cost it would take to hire a third party to produce videos.
Before charging an expedited payment fee (or any other servicing fee), consult and consider your state’s laws on the topic. Attorney Nicole Munro explores servicing fees in depth.
Mike Trabold - Dealership compliance is often complicated. Three areas of significant importance for dealers today are worker classification, the federal HIRE act, and the implications of the health care reform act.
Brent Carmichael shares some tips with BHPH dealers to get sales and payments in December, typically the most difficult month of the year.
Greg Goebel - The landscape of the special finance market is changing, but this time it’s changing in a way that could benefit dealers. The near-prime customers of today aren’t the same as they used to be. Among near-prime buyers, average interest rates have dropped, the average loan term has grown and average monthly payments have increased. Read on to discover what’s behind these changes and how the rest of the subprime spectrum has changed in the past year.
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