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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,

1. Defer taxes: Related finance companies help dealerships improve cash flow by deferring tax payments. An RFC allows the dealership to pay tax on the profit of a sale as payments are received rather than upfront at the time of sale. Here is how it works. For a dealership without an RFC a sale of a car would look something like this: A dealership sells a car $9,000 The dealer’s

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. In order to make that decision, there are 10 Key Characteristics that are important to remember about the typical DCF customers, your customers: 95% of all people are good people. Most are

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. You’ve probably seen the news from over the weekend that Governor

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? First, let’s look at the legal requirements that pertain to this question. Some

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? First, let’s look at the legal requirements that pertain to this question. Some

As I was doing some research for another article I am writing, I ran across 3 different articles about why people with damaged credit who were looking for a vehicle should avoid buying from a Buy Here – Pay Here dealership. I was amazed at some of the reasons they cited. It reminded me of some of the misinformation that was taken for fact during the debate on the 3

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

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

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. All the latest developments can help you enhance your reputation, provide greater visibility for you and your dealership and help