Oh, how the times have changed — especially for the buy-here, pay-here dealer. To compete in this new market, you need to change your methods of marketing and your processes to attract new customers to your dealership. One of the best descriptions I ever heard of the BHPH business compared it to a pendulum on […] [Read More]

Kunal Kumar makes scores of presentations during large industry conferences as well as during small-group sessions with clients in his role as vice president and general manager of lending and insurance at PayNearMe, an electronic cash-transaction network that enables consumers to a variety of bills with cash — including vehicle installment contracts. Those discussions often […] [Read More]

The American Bankruptcy Institute reported that total filings during the first six months of 2014 came in 12-percent below the figure registered at the halfway point of last year. According to data provided by Epiq Systems, total bankruptcy filings nationwide completed between Jan. 1 and June 30 were 479,362, down from 544,561 total filings during […] [Read More]

Part of the brand marketing used by Buy Here Pay Here USA includes the tagline, “You can find us under the blimp.” The BHPH operation that already has two lots with a third one to open up later this year flies white blimps with its store logo about 100 to 150 feet above inventory. And […] [Read More]

Even in today’s competitive marketplace, AutoTrader.com wholeheartedly believes buy-here, pay-here dealers still have the ability to advertise effectively. Brett Kelly contends that operators just have to change their strategies a bit because so many consumers are researching and shopping online. Up until AutoTrader.com launched its Buy-Here, Pay-Here Center back in May, Kelly admitted that BHPH […] [Read More]

Debating an expansion is a discussion buy-here, pay-here dealers have conducted for decades. A larger lot or more locations could mean more room for inventory and possibly enhanced sales and profits. But broadening the store presence also requires more cash or access to capital, additional manpower to handle sales, collections and other chores, as well […] [Read More]

In addition to announcing record profits on Wednesday, Penske Automotive Group said it increased its worldwide used-car sales by more than 10 percent in the second quarter, with its year-to-date sum now ahead by more than 12 percent over year-ago figures. Penske sold 45,912 used retail units worldwide in Q2, a 10.4-percent increase in global […] [Read More]

Last month, one of the U.S. senators from the Empire State urged the Federal Trade Commission to take action to create more regulations in connection with dealers selling vehicles with open recalls that haven’t yet been repaired. Then on Wednesday, the Department of Consumer Affairs in New York City launched an investigation of 200 dealerships […] [Read More]

For only the second time this year, a truck model has cracked the national top 10 list of hardest-to-find certified pre-owned vehicles. According to monthly scarcity data that AutoTrader.com provides to Auto Remarketing, the Ram 2500 was the fourth-scarcest CPO vehicle in the country during June. This marks the first time since January that a […] [Read More]

The National Highway Traffic Safety Administration said Hyundai is recalling 883,000 Sonatas from the 2011 through 2014 model years because of a transmission issue. NHTSA determined the shift cable may detach from the shift lever pin in the affected vehicles manufactured between Dec. 11, 2009 and May 29. “If the transmission shift cable detaches while […] [Read More]