Used-car sales in July fell nearly 2 percent industry-wide and dipped more than 5 percent for franchised dealers, according to CNW Research. But dealers, particularly the franchised stores, should take heart. Trade-ins on new-vehicle sales will likely “spike” in August, CNW says, meaning franchised dealers should see a “solid” month on the pre-owned side. That would be on […] [Read More]

If you haven’t started actively considering how to attract more younger buyers, now might be the time to do so. According to a new study from J.D. Power, Generation Y consumers now make up a larger percentage of U.S. new-vehicle retail sales than their older Generation X counterparts. According to data collected by J.D. Power’s […] [Read More]

The early success of BHPH Report is prompting Cherokee Media Group to begin offering a print version of the new magazine dedicated to providing news and information about the buy-here, pay-here industry. Launched in January as a collaboration between SubPrime Auto Finance News and the National Alliance of Buy-Here, Pay-Here Dealers, BHPH Report had been […] [Read More]

I bet when you first got into buy-here, pay-here and worked to grow your portfolio, you were watching every dollar and paying close attention to details. How many of us learned more from trial and error than other sources available, like the National Alliance of Buy-Here, Pay-Here dealers and 20 groups? I hope you have […] [Read More]

Groupe Park Avenue announced this week it has decided to follow the industry trend and conduct business on Saturdays. The family owned dealer group, who is included in the upcoming Auto Remarketing Canada Digital Magazine’s Leading Dealer Groups in Canada issue, will begin offering its Saturday services on September 6. Norman Hebert, Groupe Park Avenue’s […] [Read More]

Canadian performance stood out in General Motors Financial Co.’s second-quarter financial performance, with growth in both leasing volume and loan originations. This may come as good news to the dealer community, as high lease rates means more used supply a few years down the road from now when those units make it into the auction […] [Read More]

DriveTime Automotive Group contends customer service always has been a hallmark of its business practices, especially since buy-here, pay-here can create such an intimate relationship between a dealer and a purchaser. Now, the Better Business Bureau agrees with DriveTime’s assertions. This month, the company improved its rating to A+ after an official review of its […] [Read More]

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]