Posts Tagged ‘NABD


BHPH & Payment Assurance Devices

Payment assurance technology is there to make the job of Buy Here Pay Here dealers easier. . .ideally. A payment assurance device can be an essential part in improving collections for a dealer as well as managing inventory and if it comes down to it, make it easier to repossess a vehicle. At this year’s National Alliance of Buy Here, Pay Here conference Ken Shilson shared results of a study that found that “80 percent of the respondents said the devices lower the risk of default which allows them to sell higher value vehicles with less risk.” Having said that, the device can do these things if and when it is used properly and by properly meaning that the customer knows it is being used. Some dealers will have a GPS device on a customers car but fail to let the customer know. By not disclosing that a vehicle has a GPS device, the dealership is at risk of being sued which a dealership in Florida realized when they failed to tell a customer about the GPS on his car.

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


New Certified Master Dealer Program

The Certified Master Dealers (CMD) program is bringing together the National Independent Automobile Dealers Association (NIADA) and the National Alliance of Buy-Here, Pay-Here Dealers (NABD) for a new training program. This new program was designed specifically to address the special needs of dealers and individuals that run in-house financing. The NIADA and NABD are currently working on the content of the classes and getting input from dealers as well. Topics on the agenda so far include compliance and financial management.

The CMD program was developed in 2001 and requires an intensive 3-day course along with 12 hours of continuing education over the following 3 years. It was developed to assist dealers in growing and running a profitable business.

To read more on CMD’s program, 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.


NABD conference & academy

This year, the National Alliance of Buy-Here, Pay-Here Dealers will hold the Buy-Here, Pay-Here Dealer Academy, May 16 & 17 before their annual conference which begins May 18. Both the academy and the conference will be held at the Venetian/Palazzo in Las Vegas. The Academy will focus on the key things needed to run successful in-house financing, both operationally and financially.  The combo of the academy followed by the conference should offer a great deal of important educational information to help dealers further sharpen their skills in the area of in-house financing. Ken Shilson, NABD president and founder said that they have assembled a group of the nations leading operators and experts who will share their knowledge. So whether you are new and looking to move into the Buy-Here, Pay-Here market or a seasoned professional you should come away with some useful and helpful information for your buy-here, pay-here dealership.

The overall focus of this year’s conference will be on the image of the buy-here, pay-here industry with a total of 30 speakers planned.

To read the full article in Used Car News, please click here.


August 2020

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