Articles for BHPH Dealer Stories
Wednesday, March 17, 2010
Kimberly Long - The dealership, located in Greeley, Colo., could have easily become a casualty of the credit crisis and recession like so many other businesses. In April 2009, the bank holding the dealership’s line of credit failed and was taken over by the FDIC, freezing that line of credit. “We’ve been operating without a line of credit. It’s been very interesting,”
Friday, January 22, 2010
Kimberly Long - With 15 used car stores in Michigan and Illinois and about 650 employees, RightWay Automotive Credit as it exists today is a far cry from where it began.
Thursday, December 03, 2009
Jennifer Murphy - Twelve years ago, Tom Strickland came out of retirement to become an independent auto dealer. For most of his life, he was an investment banker, so to learn about the business, he worked at a friend’s buy here pay here (BHPH) dealership before starting a BHPH operation in Palatka, Fla.
Wednesday, June 10, 2009
During the many years he’s been selling cars, Don Owen has most definitely seen some ups and downs. “More ups than downs,” he stated. “[Last year] was the worst year I’ve seen in the car business in the 60 years I’ve been in [it].” However, he pointed out, “It was also a learning year.” The store went from selling 50 to 60 units per month in 2006 and 2007 to selling ...
Friday, February 13, 2009
Kimberly Long - Griffin’s Credit Quick began as just a single desk in the corner of the new-car dealership’s showroom and later moved into the group’s Isuzu store. Eventually, the Isuzu franchise was sold to allow the BHPH business to expand...
Sunday, August 24, 2008
John Carroll - “With the franchise, you get a great computer system, monitoring of all facets of buy here pay here,” said Duncan. “You get a consultant that comes in and visits periodically.
Tuesday, December 04, 2007
Jennifer Murphy - Ghazal focuses heavily on each store’s numbers. He receives various reports from each store daily, weekly and monthly and analyzes them to determine how each store is performing, see if any of them need improvement and monitor his...
Sunday, May 27, 2007
Jennifer Rincon - Dealer Lonnie Robertson, who estimated roughly 42 percent of their total business is sub prime, knows the value of incubating so many long-term relationships...
Thursday, December 07, 2006
So, here was the plan: buy a few cars, fix them up and sell them to pay his tuition...
Friday, December 01, 2006
In order to keep his customers – and meet his ambitious plans to grow the business – he switched over to a blended sales floor three years ago...
Thursday, September 07, 2006
“We have a seasoned team of 24 commissioned sales people. Our entire staff works hard to assist us in reaching our goals.”
Tuesday, September 05, 2006
Finding and keeping good employees and then devising and implementing tight checks and balances...
Friday, September 01, 2006
Their Buy Here Pay Here operation, which at one time bulged to nearly $15 million in outstanding balances ...
Friday, September 01, 2006
Greg Goebel - By the numbers, Wheel City Auto Sales retails about 120 units per month, 90 via BHPH and another 30 via special finance, a market they entered in late 2002.
Friday, September 01, 2006
He compares his management strategy to the old carnival routine where performers race around spinning plates on a stick...
Friday, September 01, 2006
He fully expects to hit right around the 60,000-vehicle mark -- a pace that easily qualifies the company as a market leader...
Saturday, August 26, 2006
"No customer was going to come to my lot and hold my payments hostage over a repair that they felt they were entitled to.”
Friday, August 25, 2006
Today, Stepanek carries about 75 to 80 vehicles and sells about 40 cars a month...