Are you ready for February? That is probably the biggest question for January. You should have finished or be finishing your end-of-the-month and end-of-the-year reports. I hope back in November you completed evaluations of your personnel and processes. If not, taking some time to look closely at how each person on your team performed in […] [Read More]

Q: What are some prudent steps to make in regards to reconditioning? Julian says … First, on a side note, I think service and financing of repairs, tires etc., are going to be a good profit source for every BHPH dealer. The best step, no matter what your reconditioning program, is to get out and […] [Read More]

The buy-here, pay-here business is one of the few businesses you can sell yourself out of business. Can I get an Amen on that? This reminds me of the “six P’s” rule of business that you may have heard: Prior proper planning prevents poor performance. Today, we are going to talk about a universal truth […] [Read More]

A buyer who sustained a bad experience during a vehicle purchase might share the unpleasant details with family and friends. Or perhaps in today’s Internet age, the consumer could go on social media to describe the experiences through a myriad of platforms. Craig Durrett took a different approach. He became an independent dealer who completes […] [Read More]

ALTESO, auto remarketing software developer and holding company, announced this week that its white-label auction platform division —  iBidSmart — is separating from the ALTESO group of companies. With iBidSmart taking off on its own, Mark Buffa, who has over 20 years of related industry experience, will be the new chief executive officer of the […] [Read More]

The income tax refund. For typical buy-here, pay-here dealership customers, that’s an injection of cash averaging about $5,000, according to an estimation from Tax Refund Services and TaxMax founder Bill Neylan. For years, those refunds meant the possibility of healthy down payments to move lots of metal off of BHPH lots between now and when […] [Read More]

Congress empowered the Consumer Financial Protection Bureau to supervise buy-here, pay-here dealers when it passed the Dodd-Frank Wall Street Reform and Consumer Protection Act. Since its inception, the CFPB has not specifically targeted a BHPH dealer — until now, that is. In November, the CFPB announced a consent order against DriveTime Automotive Group, one of […] [Read More]

If you have struggled to earn a positive return on investment or even calculate an ROI using social media, you are not alone. You can’t deposit likes, shares and followers into the bank. We have crafted and sent tens of thousands of printed newsletters on behalf of buy-here, pay-here dealers. We will now share a […] [Read More]

In our very first “CPO Stars and Certified Trends” issue — set to be released next week — we will announce the first recipient of the CPO Dealer of the Year Award, which honors a top Canadian dealer who stands out in the certified market. But that isn’t the only industry leader that will be honored at […] [Read More]

At last week’s NADA Convention & Expo, Cars.com revealed a new tool to help franchised dealerships make their service departments stand out from the pack. The site has launched RepairPal Certified, which was developed in partnership with RepairPal. The certification badge is designed to verify trusted service departments for consumers shopping around, and shows consumers […] [Read More]