Buying software for your BHPH or LHPH dealership can be a confusing proposition. You know how you want your dealership to work but finding the right software to make that happen is never easy. Constellation is please to announce the release of our new BHPH / LHPH Software Buying Guide. This 12-page guide explains the features you need to consider when evaluating your current software or software you are considering for
The Buy Here – Pay Here industry has had an image problem for years. Too many people remember the trailer sitting on a gravel lot with a few beat-up cars around selling barely running cars at astronomical interest rates to people who couldn’t get a loan anywhere else. Unfortunately, there are still a few of those dealers around and several attacks have been launched at the industry as a whole
In last month’s article we discussed the some of the issues Buy Here – Pay Here and Lease Here – Pay Here dealers face in today’s difficult wholesale markets. We looked at the choices dealers must make in deciding whether to increase their Cash In Deal policy in order to offer vehicles comparable to what they have sold in the past or whether to maintain that CID policy and offer the
The time has come for you to buy new software for your dealership. You are ready to start the research process but before you begin, whether you run a Buy Here Pay Here or Lease Here – Pay Here dealership, you need to know these 5 things to make sure you purchase the right dealership management software to meet your needs: 1. Existing Technology Knowing your existing technology will enable you to know whether the
I just got off the telephone with a dealer who was complaining he hadn’t been able to buy a single unit at the auction today. He claimed every car he wanted went for over $3500 and, with a cash in deal policy of $2500, average reconditioning expenses of just about $700 and average customer down of just under $800, he just couldn’t make $3500 cost vehicles fit his business model.
In the Dealer Controlled Financing business, it is critical that we take responsibility for our customer and make sure we put them in the right vehicle with the right terms to help them succeed. The first step is to explore the customer’s needs and help them to select the correct vehicle for them. I’ll never forget the customer with a wife and 3 children, 2 still in car seats, who
3 Keys to Underwriting Success in BHPH The dealer-controlled financing business is not just about making loans, it’s about making the right loans. Since the dawn of buy here – pay here in the 1950s, dealers have been trying to figure out how to decide whom to lend money to. Over the years dealers have used systems ranging from the “fog a mirror” system where a dealer will approve anyone and
