Tag vehicles

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,

Acquiring quality inventory for your Buy Here – Pay Here or Lease Here – Pay Here dealership will be one of your most difficult tasks as an owner. Make no mistake about it, it can be easy to buy cars to fill up your lot but getting quality vehicles that will sell quickly and run the length of the loan or lease requires patience and organization. Here are a few

There is currently a post running on AutoDealerPeople.com titled, “What Vehicle are on Your Do Not Buy List?”. We all know that one of the most important questions in the purchase of any one vehicle for inventory is, will it “run the note?”  Every dealer also knows that some vehicles experience more issues than others. Do you keep a Do Not Buy List for your BHPH dealership? If you don’t, you should!

From the FTC Business Center Blog By Lesley Fair December 4, 2012 – 4:01pm The wheels are turning on proposed updates to the FTC’s Used Car Rule.  Formally known as the Used Motor Vehicle Trade Regulation Rule (although only its Mother calls it that), the Rule has been in effect since 1985.  It requires car dealers to display a window sticker, called a Buyers Guide, on used cars they offer

The Buy Here Pay Here market continues to grow. According to studies done by Experian, 9.18% of all vehicles financing in 2010 and 14.38% of used vehicle financing were done by BHPH dealers. Last year those numbers grew to 9.8% of all vehicles and 16.62% of used vehicles financed. As the economy continues to struggle, it appears this growth trend will continue for 2012 and beyond. Growth in this market

In previous articles I have discussed the dilemma dealers face regarding Cash In Deal with the current high state of wholesale vehicle prices and additional potential sources for BHPH inventory. This month I’d like to take a look at inventory pricing. After all reconditioning has been completed; the person responsible for establishing the selling prices of your inventory should drive the vehicle. Only after driving the vehicle should he then

As I analyze data and visit Buy Here – Pay Here dealerships, I am constantly amazed by the amount of overage inventory some dealerships insist on maintaining on their lots. They seem to be unaware or unconcerned about the costs that are associated with this overage inventory and how it can be dragging the performance of their dealership down. Let’s look at a few of the ways stale inventory can

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

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