With today’s world and the economy, it’s important for dealers to know where their cars are at any given time. I cannot stress enough the importance of a GPS device. With all the companies out there providing devices, the cost of a GPS device ranges from $79 to $189. That is....
On occasion, a customer may ask why the interest collected on the payment they just made was so high. They point out that the payment was paid in full and made on time as scheduled on their simple interest retail installment contract. This is a common question asked typically....
Having a Related Finance Company (RFC) on your Buy Here Pay Here business can provide many advantages. As primarily financial institutions, they also have to adhere to unique requirements that car dealers don’t have. One of these requirements is filling 1099-C (cancellation of debt) for each debtor you whom you....
What exactly are prepaid finance charges? Also known as closing costs, these are charges that are added on to a loan but are not included as part of the principal balance of the amount that is being borrowed. These charges can include a variety of items including, but not limited....
Many dealers ask if Deal Pack Pro is a .NET application. While over 40% of the Deal Pack Pro solution is a .NET (pronounced "dot net") application, the characteristic dealers are asking about is if the application is accessible over the Internet. Terms such as "cloud computing" or ".NET" are used by many....
Just recently I brought on board a few California customers, and even though this law started at the beginning of the year these dealers had no clue of these laws that took effect as of January 1st 2013. “Buy-Here-Pay-Here” Car Dealers. Two new laws are directed at used car....
The VIN, which is short for vehicle identification number, is comprised of alpha numeric sequences which disclose an abundance of information about your automobile. There are 17 characters in a VIN which are divided into three groups: Group 1: World Manufacturer Identifiers The first three letters and numbers....
In today’s market, with lengthening contract terms, down payments getting smaller and the cost of vehicles remaining steady, the collections process is becoming a larger issue within BHPH dealerships and finance companies. In addition to these factors, regulators are scrutinizing collections practices more closely. The collections process begins at the....
Used car sales can be very irregular, where sales can occur nonstop for some periods of time and at other times not really occur at all. This inconsistent revenue can create pressure on the other functions of a dealership. If you do not already have a servicing department, the thought....
If a co-signer of an account files bankruptcy, do you report the account as bankrupt? The answer to this question, is no. If only the co-signer on an account files bankruptcy, the account is not to be reported to the bureau as bankrupt. Only when the primary signer on the....
ABCoA is a Software-as-a-Service company dedicated to the subprime industry. Our cloud-native ecosystem handles every part of business operations - improving productivity, security and accuracy, while consolidating vendors and reducing costs.
Since 1983, ABCoA has helped buy here pay here used car dealerships and subprime finance companies eliminate duplication, remain compliant, and achieve success with complete, customer-driven software and dependable support. Customers properly using Deal Pack have never lost an IRS audit.
Recently awarded Top Online Accounting Software for Deal Pack, ABCoA continuously elevates the standard for software in the subprime industry and helps customers grow through our commitment to quality, innovation, and service. Headquartered in Jacksonville, Florida with employees across four states, we remain family-owned and operated.
To learn more about ABCoA, visit www.abcoa.com.
Request a Demo