Posts Tagged ‘bhph


High Wholesale Prices Effecting BHPH

High wholesale prices on used-vehicles has effected all in the used car market especially the buy-here, pay-here market. The combo of finding reliable used vehicles that can actually be financed at an affordable monthly rate can be tricky. According to Manheim’s annual Used Car Market Report, BHPH dealers are often paying $2,000 more for a car than a couple of years ago. This leaves BHPH dealers with the choice of  (if they can afford the higher priced vehicle) buying it in hopes they can sell it at the higher price or adjusting the financing to lengthen the loan terms which would place them at higher risk. 

Overall the annual report found that regardless of the collections or underwriting that the BHPH dealer had or has, what separated a successful BHPH dealer from one that isn’t doing so well is the vehicles that they have in inventory. When the cars are in good condition and affordable it means less time and money the BHPH dealer has to absorb due to mechanical breakdown and issues.

To read full article in SubPrime Auto Finance News, please click here.


BHPH Customers & the Opportunity with Credit Repair

At the National Alliance of Buy Here, Pay Here dealers conference in May, shared the results of a study that they had done regarding BHPH. Study found that BHPH customers are also interested in rebuilding their credit so BHPH dealers that aren’t reporting data to credit bureaus are missing out on opportunities with these customers.

To read more about this in Used Car News, please click here.


Leedom BHPH Conference

The Buy Here Pay Here conference was a success. The conference was from October 12 through the 14th in Las Vegas at Caesar’s Palace. The conference included a variety of sessions, for example, social media, skip tracing, public relations, buying tools, and key BHPH indicators. Each day they had a time set for the exhibit hall, where dealer’s could go around to each booth and learn more about each company. We had a great showing at the Nowcom booth and were pleased to offer the dealers information regarding our software and some free goodies too! Most of the nights were ended by a drawing, for example, one of the nights they had a drawing for an evening with a Hummer Limo. All and all, the conference was very educational as well as fun. I really suggest that more dealers try to make it to the next one!


Buy Here Pay Here National Conference 2009

Nowcom will be attending the Buy Here Pay Here National Conference this next week.  It should be a great conference filled with useful information on ways to increase your dealers profits and sales.  So if you are planning on going to the conference please take the time to stop by the Nowcom booth and say hello. 

Nowcom Booth