I was recently asked this question, and I wasn’t sure how to respond, so I decided to do a little research into the topic. Here’s what I’ve found: while many states do not specifically require the disclosure of GPS units on used vehicles, BHPH dealers who do not disclose them....
The Current Installment Rule is a practice now adopted by most UCCC states (CO, ID, IA, IN, KS, LA, ME, NH, NC, WV, WI, WY). This change will affect the way delinquency fees are collected on past due accounts and determine when they may be collected. In short it prevents....
A couple weeks ago I had a call from a service advisor who had an issue with transferring a balance over to the finance side. As I was helping him he stated it would be nice if we can make some notes on an account in service. I went ahead....
The title of this blog post may be a little deceiving. As a BHPH dealer you really aren’t concerned with a customer’s credit as much as their ability to pay. If you sell your notes or have them financed by a sub-prime lender or related finance company, they might be....
Managing inventory efficiently allows a dealership to stock a sufficient quantity and desired variety to meet the public demand. Insufficient levels can be detrimental to your business by causing delays and loss of sales. Stocking units that are unpopular can be costly and result in lack of sales. Inventory....
Street Money and Cash in Deal are figures that give you and idea of how much money you have at risk when selling the vehicle and throughout the loan. The Cash in Deal is your initial investment in the car or the money you have at risk on the street.....
When creating your user fees for online payment portals, there are some things that you may want to think about beforehand: Due to the nature of BHPH sub-prime auto financing, and LHPH sub-prime auto leasing, the profit margin on the unit pricing is already high; the interest rate on....
As a dealer, one of the most important things you can keep track of how your customers arrive at your lot. Knowing what advertising works, what doesn’t and how much it costs you can have a great impact on your bottom line. Wouldn’t it be nice to track expense and....
We try to make everything as easy as possible when using DealPack. Our HELP section located in dealpack is categorized by Job Titles or you can do any search you wish. We also have online training guides. To see the videos: 1. Just log onto www.dealpack.com 2. Click on....
Yes, you can! Many small BHPH dealerships have small service shops around the back, offering standard oil changes and repairs for both customers and unsold vehicles on the lot. The shop adds value to the lot, because offering an on-site service department promotes customer retention. If they purchased from you,....