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The Buy Here Pay Here & Lease Here Pay Here Business and BHPH & LHPH Dealership Management Software

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10 Key Characteristics of the BHPH Customer

 
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It is easy to sell more cars in the Buy Here-Pay Here industry. All you have to do is say “Yes”. The challenging parts are knowing which customers to say “Yes” to and how to collect the balance of the loan.

Compliance in Today’s Car Business

 
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Compliance with existing and new laws and regulations may be one of the most important and difficult tasks facing BHPH and all auto dealers today. New regulations are appearing regularly and enforcement of existing regulations continues to expand. Now is definitely not the time to stick your head in the sand and hope these developments will just go away.

Dealer Controlled Financing - Honesty is Still The Best Policy

 
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How much should you tell a potential customer about the condition of a vehicle in your inventory? You sell your vehicles As-Is and try to make sure the customer understands what this means. How much disclosure makes sense and where should you draw the line between being totally honest and doing what is best for your business?

Merchandising Your BHPH Lot

 
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There is an old saying, “You never get a second chance to make a first impression”. Your potential customer’s first impression of your BHPH dealership is based on how you merchandise your lot. What do they think when they drive by the lot? Is it appealing? Does a perspective customer want to stop and shop? Whenever a customer looks at your lot, he forms an impression. Impressions cannot be stopped, but they can be created. The impressions that are created become the perceptions of the customer. Another old saying is, “perception is reality”. If the lot looks better than the competitor’s then customers think the dealership is better than the competitor.

COMMON TRAITS OF SUCCESSFUL BHPH EMPLOYEES

 
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Your employees are often the first point of contact your prospective customers will have with your Buy Here Pay Here or Lease Here Pay Here dealership. It is important that the impression created during that initial contact is a positive one. Customers and potential customers must be greeted promptly and in a friendly and courteous manner. Your employees are the most visible representatives of your dealership and are primarily responsible for the public’s perception of the dealership. It is critical that they maintain a professional attitude and appearance at all times.

The Importance of Training for Success in BHPH

 
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Training employees is an essential activity for all organizations. If you want your BHPH dealership to grow and succeed, your employees must be trained. Training provides employees with the key knowledge and skills that they need to perform their job. Training is also regularly sited as one of the key ingredients in retaining quality employees. Training must not be viewed as a one-time occurrence but, rather, as a continuing part of your business.

In BHPH, It's Still Always About People

 
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Much is made of the latest technological advantages in displaying inventory on the Internet, obtaining leads, selling cars, and, for BHPH & LHPH dealers, collecting your money and tracking your customers. The important thing to remember is that the car business always has been and always will be about people.  

3 Advantages & 3 Disadvantages to Selling Your BHPH Notes

 
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Every week there are more and more small finance companies offering to buy receivable from BHPH dealerships. The improving economy has pumped capital back into the market that was starving for funding sources just a few short years ago.

Online Resources for Buy Here – Pay Here & Lease Here – Pay Here Dealers

 
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The following is a list of websites that can provide useful information for dealercontrolled financing dealers. They are great sources of information on news and latest trends in the industry.

6 Tips for Being a Better BHPH Manager

 
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Being the manager or owner of a Buy Here – Pay Here dealership brings a lot of responsibilities with the job. Not only do you need to manage your employees to get the most production out of them, you also need to manage your customers to keep delinquency in check and cash flowing. You must manage your inventory, manage your expenses and manage your regulatory compliance. To be an effective manager takes knowledge and skill. Here are 6 tips on how you can be more effective:

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