Tag lease here – pay here

Constellation Auto BHPH Software

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

Constellation Auto BHPH Software

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

Constellation Auto BHPH Software

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.

Constellation Auto BHPH Software

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

Constellation Auto BHPH Software

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