It seems like the economy is all over the place these days. This time last year, demand was out-pacing supply with consumers spending like never before due to a post-COVID rebound. The subprime auto industry was on fire as people scrambled to buy whatever vehicle they could get their hands....

Data security has become a hot topic over the last few years as companies are adopting a digital strategy and taking their business to the cloud. It feels like every week there is a story about data breaches that put both a company’s and its customers’ valuable information at risk.....

Credit Union Direct Lending (CUDL) delivers enterprise lending solutions and technology to over 1,100 financial institutions, 14,000 auto dealers as well as retailers and medical providers nationwide. CUDL is committed to delivering products and solutions that meet the demands of today’s and tomorrow’s financial landscape by bringing innovation and expertise....

Are you looking to streamline the process of adding credit applications to your DMS? Do you need a way to bring leads in but do not require a CRM? With the standalone credit application through cyclCRM, you are able to automatically bring applications into Deal Pack from your website. Deal....

In today’s fast-paced world, it can be difficult to keep up with physical contracts and paperwork from the day-to-day operations of a dealership. This is especially true during this time of the pandemic when many BHPH and LHPH dealerships have experienced record setting sales periods. The solution to this has....

Collections is one of the most important aspects of the BHPH industry. Selling cars is obviously important too; however, the ability to continually collect those periodic payments can make or break a BHPH dealer. Here are three tips for being able to maximize your collections potential: Ensure your dealer management....

A lesson we have all had to learn is that promises, no matter how important, can be broken. Collectors in the subprime industry are constantly reminded of this truth. They may finally contact a customer who agrees to pay on a specified date, just for the customer to go back....

The average used car price has increased 9.5% (roughly $2,200) since 2019. This is due to the pandemic causing mass factory closures, leading to a decrease in available vehicles. In turn, we saw a 25% decrease to car dealership inventory overall, both new and used. Less inventory equals higher demand,....

As a way of increasing profitability in the subprime auto market, many Buy-Here-Pay-Here (BHPH) businesses are making the switch to the newer Lease-Here-Pay-Here (LHPH) business model. What are the benefits of making this switch? There are advantages that exist for both business and consumers with the LHPH business model. Businesses....

Building a relationship with a customer is extremely important. It has been proven time and time again that people do business with people they like. Slashing prices and streamlining the sales process are great ways to get customers in the door, but what will make them continue to come back....