Buy Here Pay Here needs more sophisticated methods of evaluating prospective customers as well as deal structure as money flows through this industry. The solution can be through the use of scoring models. They are designed to maximize your sales in a way of focusing on customer financial strength as opposed to solely the amount of their down payment they happen to have on hand today. As I am referring to “scoring”, please do not be confused with a customer’s credit scores. A customer’s credit score is an analysis of past payment history, amount of debt, and amount of credit versus the dollar amount available.

BHPH scoring is an application of numeric values assigned to underwriting criteria. These models are not designed to lessen repossessions, but more of a better prospective on the customer’s potential to prove that they can pay for a vehicle. You can find scoring models online with autozoom.com or Deal Pack provides two different types of scoring models and debt analysis tools to determine if your prospective customer may be overextending themselves. Deal Pack can calculate exactly what their Bi-Weekly, Weekly, Monthly or Semi-Monthly allowable payment can be based on the debt to income ratio preset by the user. The 1st model has questions preprogrammed such as length at residence? Last repossession and bankruptcy? Number of dependents? If that is not enough we provide a second scoring model in which you can customize your own analysis questions and choose the amount to reduce or increase their overall score based on the answer.

For assistance with setting up your customized scoring model please do not hesitate to call your Deal Pack support staff at 1-800-526-5832.