BHPH Dealer – Tips for Selling to Millennials, April 2019

More than $1 Trillion in Purchasing Power

Mr. Gary Page, chief executive officer of SDA:  According to research from Autotrader, Millennials are the most diverse, most educated, most socially conscious and most tech-savvy group the world has ever known. While there are dozens of conflicting research reports available about why or why not millennials are buying cars. One thing is clear, these buyers are different, and BHPH dealers should be prepared to sell to this large demographic. They are getting more mature, financial capable, and their needs for vehicle ownership is increasing as they age. Even though the BHPH millennials have unique circumstances, they tend to share many of the same attitudes.  Click here to read the article.

USED CAR NEWS – SDA Sees More Demand, September 2018

Used Car News:  How has your company performed this year?

Mr. Gary Page, chief executive officer of SDA:  This year has been pretty busy.  We had one competitor leave the business and there have been fewer funds available from banks.  That’s been good for our business.  If capital is tightening up, that is good for us.  The demand side has been strong.  More dealers are moving into buy -here, pay-here.  It’s always slower in the summer, especially in Florida, but our numbers are up.  Everyone should be doing well right now.  Click here to read the interview.

 

2018 – The Year for Healthy Growth

You’re starved. You order the large meat lovers. You only need 2 slices, but you eat the whole pizza. The next day is tough and you knew it would happen. Habits like these are unhealthy and can often lead to terrible consequences.  Funding your Buy Here Pay Here dealership is much the same. History suggests that leveraging the business too deeply through excessive borrowing can be unhealthy if not deadly. Dealers need to retain part of their portfolio to fund the business and protect for the unknown. [Read more…]

Customer Loyalty – It’s NOT about the Best Price

If recent research is accurate, loyal customers provide 60-70% of annual revenues.  Traditionally, Buy Here Pay Here dealers invest most of their time and a significant part of their budget towards marketing and acquiring new customers.  If you consider these facts, we may be miss-allocating precious time and money. [Read more…]

How Successful BHPH Dealers Build Their Business

If you were to ask 1,000 BHPH dealers what one suggestion they would give to other dealers wanting to build their business…most would say “have access to capital”. Yes, it does take money to make money – especially in the BHPH industry. The average ACV has gone up $1,200 the past 2 years, while down payments decreased $117. [Read more…]

SDA Lets You Raise Capital, Keep Your Customers

The credit crunch from several years ago appears to have subsided somewhat as many new companies have surfaced in the subprime auto industry. Compared to six years ago the sources of capital have flip flopped. Upwards of $1 billion of new capital has entered the business in the last three years. In the long term this may not be totally positive – the increased competition has allowed some traditional buy-here, pay-here customers to drive new cars. [Read more…]

SDA Provides Funding To Dealers

Small Dealers Assistance (SDA) in Atlanta has been a consistent capital provider to the buy-here, pay here industry nationwide for over two decades. In addition to being one of the oldest, most established, suppliers of capital to the buy-here, pay-here industry, SDA pays the highest advance in the industry – up to 90 percent. [Read more…]

Tax Season Delay Affects Buy-Here, Pay-Here Dealers

USED CAR NEWS – Last year buy-here, pay-here dealers were affected when the IRS delayed income tax refunds – and it’s happening again. In 2012, $40 billion in refunds were paid out in January, and in 2013 zero refunds were paid out in January. 2014 is another year of zero refunds being paid out in January. This time the IRS is blaming it on the 16-day government shutdown in October. [Read more…]

Keep those BHPH Customers paying at your Lot!

Studies show that almost 50% of dealership sales are from repeat and referral business.  Savvy dealers really get to know their customer base — because those same customers will bring them more customers!  Buy Here-Pay Here (BHPH) dealers  work hard to bring customers to their lot — why would any BHPH dealer disrupt that valuable customer interaction? [Read more…]

Keep those BHPH Customers Paying at Your Lot – Here’s Why….

USED CAR NEWS – Studies show that almost 50% of dealership sales are from repeat and referral business. Savvy dealers really get to know their customer base – because those same customers will bring them more customers. Buy-here, pay-here dealers work really hard to bring customers to their lot – why would any buy-here, payhere dealer disrupt that valuable customer interaction? [Read more…]