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Articles for BHPH Dealer Operations
Training and Attitude Are the Keys to a Smoothly-Run BHPH Operation
Tuesday, July 24, 2012
Gene Daughtry, general manager of BHPH operation Best Ride, discusses how a manager directly affects the attitide and motivation of his employees.
BHPH Inventory Makes the Difference
Wednesday, June 20, 2012
Best Ride General Manager Gene Daughtry discusses the importance of having the right inventory for your BHPH lot.
Promotion Is More Work Than Just Advertising
Wednesday, May 09, 2012
Marketing is about who you are, why you’re different and how you deliver that message. Best Ride General Manager Gene Daughtry reminds dealers of the need to get involved and be visible in the community as part of marketing their operation.
The Sales Process in BHPH is Underwriting
Friday, April 20, 2012
Gene Daughtry, general manager of Best Ride, duscusses the huge role of underwriting in the BHPH sales process.
Surviving the Worst Recession in History
Monday, March 12, 2012
Gene Daughtry, general manager of Best Ride, reflects on surviving the worst recession since the Great Depression.
Finding the Customer Who Doesn’t Want To Be Found
Monday, February 13, 2012
Best Ride General Manager Gene Daughtry discusses skip-tracing and reveals the methods he uses to track down customers who don't want to be found.
Tax Time and The Blinding Light of Big Down Payments
Monday, January 23, 2012
Best Ride General Manager Gene Daughtry talks about the lure of big down payments at the BHPH lot during tax season.
Tuesday, November 29, 2011
Gene Daughtry, general manager of Best Ride, looks at three important factors in controlling delinquency at his buy here pay here operation.
Financing Repairs for BHPH Customers
Friday, October 28, 2011
Best Ride General Manager Gene Daughtry discusses the benefits of working with buy here pay here customers to finance their vehicle repairs.
Be An Active Member in Your Community
Wednesday, May 11, 2011
Gene Daughtry, general manager of Best Ride, Inc challenges dealers to be involved in their communities.
Your People are Important
Tuesday, March 22, 2011
Dealer Gene Daughtry discusses the significance of having a motivated and well-functioning team of individuals in your dealership.
Marketing a BHPH Operation
Wednesday, August 18, 2010
Gene Daughtry - What business are you in? I think that is your first marketing question. I believe you need to decide what you are doing. Are you a BHPH operation that will sell some vehicles for cash, or are you a retail store that will carry the note on some cars? I know they are both “the car business,” but the marketing for each business model is very different.
BHPH Personnel Breakdown
Wednesday, March 17, 2010
Gene Daughtry - Good people—in any business, this is a requirement. Your front-line people have to create a welcoming atmosphere so folks coming into your business feel comfortable. As the owner or manager, you have to work hard to train your people to represent your company the way you intended.
Two Easy, Inexpensive Ways To Help You Locate Your Next Buy Here Pay Here Lot
Wednesday, February 17, 2010
I do not believe that “dealer row” is always the right place to be. Your local zoning may dictate a concentration of automotive retail and repair facilities into one area of your city or town. If you have the flexibility to choose otherwise, here are my thoughts.
Profits, Cash and Liquidity
Tuesday, January 26, 2010
Ben Donnarumma - Cash may be king in the car business but cash flow rules! It is the life blood for any business, especially for money vacuums like car dealerships. Just talk to a local banker today about getting a short-term loan for a car dealer; even with the Small Business Administration backing 90 percent of the principal, banks still consider such a loan to be a risky endeavor.
Does Your Website Have an Online Credit Application?
Monday, December 14, 2009
For special finance dealers and BHPH dealers, the most important aspect of your dealership website is the online credit application. If you do not have one on your website, you are wasting your money and time online.
Mastering Buy Here Pay Here
Wednesday, August 12, 2009
Ben Donnarumma - To say the least, BHPH is in high demand today. More and more customers need alternative financing to replace the void left by several non-prime finance companies that have changed their programs over the past year. As the market continues to evolve, several dealers also are looking to BHPH or LHPH (lease here pay here) as a new source for sales and revenue. So, if you are a dealer who is thinking about financing subprime customers yourself, let me give you some words of advice. Just do it! ...
It's Nothing Personal. It's Just Business
Tuesday, July 28, 2009
Ben Donnarumma - Buy here pay here is a very personal business. The moment you forget that simple notion is the moment you will start to lose your perspective on perhaps the single most important element of success in lending. People borrow money because they need it, and if you’re lending it, you better know what the money is for, why they need it and most importantly,...
The Fundamentals of BHPH
Thursday, July 16, 2009
Tom Herald - Special finance is continuing to evolve at a rapid pace. The demand for financing is growing as consumer credit shifts lower on the spectrum and several national non-prime lenders scramble for cash during the credit crisis. This combination of events has created a very challenging dilemma for many car dealers—how to finance customers in the “no-man’s land” of credit? This tier I am calling the “no-man’s land” is for customers with credit scores
Thank God I'm Crazy
Wednesday, June 24, 2009
Ben Donnarumma - The influx of calls and sudden popularity of BHPH reminds me of when I first made the decision to start financing customers myself. My family thought I was crazy ...
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