1. Loan Transparency Online payment portals allow for BHPH customers to have greater access to view their loan. This creates trust between the dealer and customer, helping to reduce delinquencies. With an online payer account, customers have access to view past, current and upcoming payments. The easier it is for
In the world of Buy Here Pay Here (BHPH), managing credit risk is a constant challenge. Dealing with customers who have poor credit or no credit history requires a strategic approach to ensure the financial health of the dealership. In this article, we’ll explore effective strategies for BHPH dealers to
In the BHPH industry, it’s important to maintain trust with customers. A solid reputation for honesty, transparency, and reliability can set your dealership apart and contribute to long-term success. In this article, we’ll explore effective strategies that BHPH dealers can implement to foster and maintain customer trust, creating lasting relationships
Operating a successful BHPH dealership involves much more than just selling vehicles. Ensuring BHPH dealership compliance is a fundamental aspect of running a reputable business in the BHPH industry. In this article, we’ll explore essential strategies that BHPH dealerships can implement to help remain compliant with regulations, laws, and industry
Managing vehicle depreciation is an inherent challenge in the automotive industry, particularly for BHPH dealerships. As vehicles age, their value naturally declines, impacting both profitability and pricing strategies. However, proactive management of vehicle depreciation can significantly mitigate its effects and contribute to a successful dealership. In this article, we’ll explore
In the Buy Here Pay Here (BHPH) industry, maintaining healthy cash flow is crucial for sustained success. One of the biggest challenges faced by BHPH dealerships is managing delinquencies in the collections process. As technology continues to advance, there’s a significant opportunity to leverage personalization to decrease delinquencies. This article
Running a BHPH dealership can be a lucrative business, but it comes with its fair share of challenges. One such challenge is dealing with an increase in BHPH repossessions. Repossessions can have a detrimental impact on a dealership’s reputation, finances, and customer relationships. However, with a proactive approach and a
Managing cash flow and financing is a critical aspect of running a successful BHPH dealership. To maintain a thriving business you must balance expenses, revenue, and financing efficiently. In this article, we’ll explore key strategies that BHPH dealerships can use to help effectively manage cash flow and financing, ensuring stability
BHPH dealerships across the nation all have a way of running collections. It’s no secret that technology is ever evolving and that means so is the collections process for BHPH dealerships. What was once done manually, and still is in some cases, is being transformed into an automated and more
Seasonal fluctuations are a common challenge in the BHPH industry. Demand, preferences, and market dynamics can vary significantly throughout the year. Successful BHPH dealerships are those that anticipate and adapt to these shifts to ensure consistent sales and maintain a competitive edge. In this article, we’ll explore effective strategies that
