Everyday battles. Sales waning. Cars breaking down. Lapsed insurance. Repos. Low working capital. Do you feel like you’re losing? Every day in buy-here, pay-here operations across this great country, dealers are asking similar questions: —Where do I go from here? —Is there something practical I can do to alleviate some of these day-to-day struggles? I […] [Read More]

The year-over-year decline in bankruptcies recorded in July is leaving the American Bankruptcy Institute thinking that this year’s total could end up being the lowest figure in seven years. According to data provided by Epiq Systems, ABI indicated total bankruptcy filings in the United States decreased 12 percent in July compared to July of last […] [Read More]

The largest contingent ever attended the most recent BHPH Boot Camp hosted by the National Alliance of Buy-Here, Pay-Here Dealers at the site of iCars, Ingram Walters’ dealership in Monroe, N.C. A total of 27 attendees from 15 different dealerships from throughout the U.S. took the opportunity to examine all parts of the BHPH operation […] [Read More]

It’s one of the most stress creating notices anyone can receive. The Internal Revenue Service wants to conduct an audit. And for buy-here, pay-here operators, the complexities of explaining how their businesses function to a federal regulator who might not be at all familiar with how a typical BHPH store and related finance company work […] [Read More]

The latest expansion move and membership services upgrade for the National Auto Auction Association came Thursday: NAAA announced it has acquired an information technology company known as Kink Or Bend LLC that can help auction members determine if they need to disclose quarter panel replacement on a vehicle. The company’s specialty is in developing online resources […] [Read More]

This morning, Cox Enterprises announced the formation of Cox Automotive, an entity that includes more than 20 wholesale and retail auto brands — among them Manheim, AutoTrader.com and Kelley Blue Book. Forming Cox Automotive, officials said, “further strengthens the company’s investment in the automotive industry and provides end-to-end global solutions for customers throughout the vehicle lifecycle.” […] [Read More]

Who should be my Internet manager? This is one of the questions I field most often as I fly around the country, working with both rural and large metro dealers, alike. And my usual response? Someone who wants to be! But if that’s not the answer you were hoping for, it’s because the question itself […] [Read More]

Auction prices in Canada have remained mostly consistent in 2014 with slight fluctuation, but July told a bit of a different story, according to the ADESA Canada Used Vehicle Price Index. The index, powered by ALG, fell substantially after being adjusted for seasonality, the company reported, dropping by an average of 0.8 percent month-over-month. And […] [Read More]

Carfinco Financial Group Inc. announced its second quarter results last week with record results. The company highlighted a record $54 million in loan originations for the quarter, a 19.6 percent increase over last quarter and a year-over-year increase of 26.9 percent. Carfinco attributes the substantial increase in originations to the diversification of their financial product […] [Read More]

Is a sharp correction in used-vehicle prices imminent? The National Automobile Dealers Association expects used-vehicle prices will indeed start to fall — but gradually, not all at once. After the Great Recession, a sharp decrease in new-vehicle sales greatly reduced the supply of late-model used vehicles. At the same time, price-conscious consumers opted for more […] [Read More]