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In the buy here pay here business, deal structure must be sound, which means it makes sense for the dealer and the customer. Brent Carmichael, BHPH expert, explains the components that make up deal structure—term, payment, interest rate, back-end products, and vehicle.
Read More →Trainer and former dealership GM Tony Troussov discusses ways to improve the F&I process to increase profits, customer retention and satisfaction.
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Having the wrong person in charge of special finance can cause everyone problems, which is a lesson Sharpnack Chevrolet Buick in Willard, Ohio, learned the hard way. Fortunately, the dealership now has the right person in charge—Mike Mandato, special finance manager.
Read More →The Durbin Bill, which was a part of the Dodd-Frank Act, regulates the merchant processing costs associated with taking certain types of debit-card payments. Technology Expert Allen Dobbins explains how the bill is lowering costs for dealers who accept credit and credit card payments.
Read More →Alan Mosher looks at the options available for buy here pay here dealers to adjust to increased wholesale vehicle prices.
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Buy here pay here dealers are taking notice of how the Internet is affecting business and using it to their advantage. Three dealers go into detail about how they’re using the Internet to improve different aspects of their operations.
Read More →Special finance expert Greg Goebel discusses the three best things he came away with from the 2011 Special Finance Conference—Auto Auction Insider, Bidzpin and VegasFlyTrap.
Read More →The best first line of defense against class action suits is the practice of requiring consumers to sign mandatory arbitration agreements as part of the car purchase and finance transactions they enter into. Attorney Thomas Hudson provides an example of how the use of arbitration agreements saved the day when the class action lawyers came calling.
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Three dealers discuss the causes they hold close to their hearts. While it’s not unusual for dealers to donate to good causes, these three men are giving much more than money, and their efforts are impacting the lives of others in very real and very positive ways.
Read More →Buy here pay here expert, Mark Dubois, discusses the seven keys to success in the BHPH business, which are: Capital, Inventory, Deal Structure, Underwriting, Collections, Repeat/Referral Business, and Networking.
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