Should I Have My Own Terminal Server or Should I Use ASP?
By Amir Dabiri - July 17, 2012

More than likely your dealership or finance company relies on more than one computer to accomplish your daily tasks and get business done efficiently. Should you have all of your computers networked to a server? If you have a large staff, the answer should be yes. What is a server?....

What is a Digital Loan Jacket?
By Ashton Azizi - July 16, 2012

We live an age where the mantra is "information at your fingertips". With the digital era influencing every aspect of our lives, it is important to leverage these efficiencies in every way possible with your business. One simple, yet effective way to do this is keeping an electronic record of....

How BHPH Dealers Are Gaining An Edge By Reporting Credit
By Bethany Richardson - July 13, 2012

There are many reasons for a Buy Here Pay Here operation to report credit to the bureaus each month but all too often these benefits are overlooked. It’s the key intangibles that will help keep your accounts in good standing and reward your business with repeat customers. If you run....

How can I improve my internal control procedures to protect my dealership against fraud?
By Chris McIntyre - July 11, 2012

As the owner of a used car dealership, your primary goal is to sell cars, and chances are, that is the function holding your attention, day in and day out. Buy the cars at the auction for a good price, and turn around and get them off the lot. However,....

What Interest Method is used on Buy Here Pay Here Loans?
By Desiree Bradsher - July 10, 2012

Interest is the price paid for the use of borrowed money – a fee paid to a lender by a borrower. The two most common types of interest calculation methods used in the Buy Here Pay Here industry today is Simple Interest and Add On Interest (Rule of 78's).  ....

What are Red Flag Rules and Do I Need to be Compliant?
By Evan Akins - July 6, 2012

Annually, about 9 million Americans have their identity stolen. These victims are subject to bank accounts being drained, damaged credit, or potentially having an arrest warrant on them because someone robbed a store with their identity. As much damage as identity theft does to Americans every year, the same is....

Buy Here Pay Here (BHPH) Payment Evolution
By Greg Morris - July 3, 2012

Attention Buy Here Pay Here Dealers: The business model has changed! Yes, you can still extend financing to sub-prime borrowers, but the days of you waiting until Friday afternoon to cash their payroll check and deduct their payment is becoming more and more archaic. To stay current with your customer....

Getting the Most Out of Your Prospects
By Helga Buck - July 2, 2012

Every dealer is in business for one reason and one reason only - TO MAKE MONEY. In order to make money you need customers, and in today’s market your customers have more options than ever. Successful dealers know that the key to being profitable is maximizing their conversion ratio, to....

Selling Installment Contracts for Dealerships
By Hope Ramirez - June 29, 2012

At some point or another, many BHPH Dealers will commonly consider selling their Retail Installment Contracts to a Finance Company. Whether it is to generate some short term cash, trying to get away from BHPH, or maybe you just think you can get a good deal. Although the number of....

What are the Benefits of a Related Finance Company?
By Jennifer Margettes - June 28, 2012

In the Buy Here Pay Here (BHPH) industry, the typical customer walking through your door is coming to you for a reason: They can’t get the financing they need to get a vehicle anywhere else. Selling the vehicle to the customer and managing the receivables yourself is a sure way....