Interest is a fundamental component of financing in the Buy Here Pay Here (BHPH) industry, where dealerships provide in-house financing for vehicle purchases. When it comes to calculating and understanding interest, two common methods are used: simple interest and add-on interest. Simple Interest: Transparency and Cost-Efficiency Simple interest is a....

Buy Here Pay Here (BHPH) dealerships have carved out a unique niche in the used car market by offering in-house financing to customers with poor credit or limited financial means. While these businesses can be profitable, they also face a range of challenges that make running them a tough endeavor.....

Deal Pack seamlessly integrates with many popular GPS companies. GPS tracking provides many advantages from asset management to customer safety, however, there are some ethical and legal limitations on how GPS’s can be used at your dealership. To avoid any state-to-state differences, this blog will describe federal laws. Disclaimer: This....

Buy Here Pay Here (BHPH) dealerships play a vital role in the automotive industry by providing loans to customers with poor credit. While these dealerships serve an underserved market, they also face the challenge of managing significant credit risk. Balancing the need for profitability and sustainability requires effective risk mitigation....

The used car industry is a dynamic and often challenging arena, with independent car dealers facing a multitude of obstacles that can impact their businesses. From economic shifts to changing consumer preferences, the road to success in this industry is not without its bumps. In this blog, we'll delve into....

Maintaining customer loyalty is paramount for sustained success with any business. However, in the face of changing market conditions and shifting customer preferences, it is not uncommon for dealerships to experience a decline in customer loyalty. Let us delve into three actionable strategies that car dealerships can adopt to take....

Automotive dealerships face numerous challenges, from managing inventory and sales to ensuring exceptional customer service. To navigate these complexities efficiently, many dealerships are turning to comprehensive dealer management solutions. Join me as we explore the advantages of utilizing a single provider for all your dealer management needs and how it....

In an era where data breaches and cyber threats are prevalent, safeguarding sensitive customer information is of paramount importance for any business. Buy Here Pay Here (BHPH) dealers, who handle payment card transactions on a regular basis, must prioritize Payment Card Industry (PCI) compliance to protect both their customers and....

In an era where data breaches and privacy concerns are becoming increasingly prevalent, safeguarding consumer information has become a top priority for businesses across the subprime industry. Recognizing the need for enhanced data protection, the Federal Trade Commission (FTC) introduced the Safeguards Rule. This rule imposes certain obligations on businesses....

Working in the used car industry means you will be working with vehicles that may come with some very high odometer readings. This could be a difficult selling point for some customers, but pairing a good price with some tips customers can follow to extend the life of their new....