Yes, many of you are “informed” in that you know how and when to buy cars, what price to sell them, and know “the business” fairly well. But there is more to it than just moving units. I wrote a post called Where Are The Snakes?. In that post, I asked you to revise your…

Reminder: I am not a CPA or an attorney. None of the information in this article should be considered qualified legal or financial advice. It is your responsibility as a business owner or manager to obtain and retain licensed, qualified advisors for your business. Make sure you get the people who know your area of…

The NIADA analytics for 2015 had some interesting statistics. By and large, BHPH dealers are spending more on cars, and getting less down. A quick comparison to just 4 years ago(2012) shows that the average BHPH unit cost is up almost $1400. At the same time, the average down payment is down by about $125.…

If you are a BHPH Dealer, you have to have a Collections Plan. To start that plan, you need to decide where the boundaries are. It is also vital that you understand your own underwriting processes. I’ve said before, Poor Underwriting leads to Poor Loan Performance. Two questions:1. Do you run a Consumer Credit Report…

First, re-read this article: Click Here.  Let me give a couple of examples: Dealer in Florida calls and asks me to help him remove the Sales Tax from his Dealer Fee. He says his CPA advised him that since delivering a car is a “service,” the fee is non-taxable. According to the Florida Department of…

So, who are YOU? What’s your deal? What do you have to offer? Those are the questions almost every customer wants to ask, but rarely does. See, many of them don’t consciously think about needing those answers, but the lack of answers leaves a hole in their confidence level of you as a dealership. We’ve…

Question Post: I have been approached to do some computer system and tablet reviews. My question is, would the readers of this Blog be interested in seeing those here? Also, is there a certain Computer System/ Laptop / Tablet / Smart Phone you want researched? Let me know in the comments. Also, see my new…

DO YOU KNOW WHERE YOU ARE? It’s been brought up before, and it bears repeating. There is a concept called “Situational Awareness.” Roughly, it is defined as the “ability to identify, process, and comprehend the critical elements of information about what is happening to the team with regards to the mission.” Simply put: It is…

I have heard that question a LOT in this industry, usually when the customer is trying to contest the terms of the deal. It’s one of the first weapons the manager pulls out of the armory to use against the customer. “You agreed to this” they say, pointing insistently at the customers’ signature. After all,…