Ignoring Form 1099-C Filing Can Become Costly

Nick Zulovich, Editor

You probably have heard that running cocktail hour joke about the two sure things in life — death and taxes. Well that chuckle starter came up again during the BHPH Report’s conversation with McGladrey’s Scott Ruby when he discussed how important it is for buy here, pay-here operators who have a... Read More

Importance Of Creating & Maintaining Business Plan

Nick Zulovich, Editor

The buy-here, pay-here operation Dustin Kerr started to oversee for owner Bill Powell 10 years ago followed a pattern many dealers might recognize. The BHPH store started as an off -shoot of a Chrysler franchised dealership — a place where Kerr could send older trade-ins and try to retail them on a piece of property... Read More

2013 Is In The Rearview Mirror So What’s Ahead?

Ken Shilson, NABD

Although the year-end financial results for buy-here, pay-here operators are still being compiled and individual results will vary, members of the National Alliance of Buy-Here, Pay-Here Dealers I surveyed about 2013 performance indicated the following: 1. Increased Competition Unit sales for most operators were... Read More

Nick Zulovich, Editor

A host of high level law enforcement agencies that can target a dealership in the Tar Heel State are suing operators who have been in business in North Carolina's largest city for more than 15 years. Earlier this month, the U.S. Department of Justice, the U.S. Attorney's Office for the Western District of North... Read More

IRS Audits Of Operators On The Rise

Nick Zulovich, Editor

The Internal Revenue Service appears to be increasing audit efforts within the used-vehicle industry. And one particular element is especially important for buy-here, pay-here dealers to understand: Form 1099-C. Before delving too heavily into this wideranging topic, two accounting experts indicated operators need to... Read More

Nick Zulovich, SubPrime Auto Finance News Editor

CarHop has continued to add to its network of buy-here, pay-here dealerships, venturing into another state among its three newest stores. The company is now moving metal at lots near San Diego, another in Pueblo, Colo., and for the first time in South Dakota with a store in Sioux Falls. CarHop now operates 53 stores... Read More

This week, America's Car-Mart opened the 127th dealership in its network of buy-here, pay-here stores. And it's nearly certain the vehicle in inventory will be equipped with a GPS device, a practice the company hesitated in doing until recently. Car-Mart president and chief executive officer William... Read More

Shilson: Getting Your Best BHPH Customers Back

Ken Shilson, NABD

The first half of 2013 is now in the rearview mirror for the buy-here, pay-here industry, and it's time to look back. Many operators reported lower unit sales versus the same period last year. Two important questions are, "Why?" and "What can be done to improve unit sales during the remainder of the... Read More