Grow your BHPH auto business with capital from SDA!
BHPD Dealer Magazine December 2020 –
As we wind down one of the most chaotic years in history, we need to think and prepare for the road ahead. There is not a soul on earth who can accurately predict 2021. The only things that are certain are change and unpredictability. Still, as unpredictable as 2020 was, there are many positive aspects we should factor into our plans for next year. (Read More….)
At 6’4”, I have an advantage at sports – especially basketball. As I age the simple things get harder. Back in the Fall a routine rebound left me with a painful injury and I’m not sure if I sprained my ankle or something is broken. Regardless, it will take time to recover. I share this as the news continues to swirl in the business world and within our own Buy Here Pay Here industry. Are we broken or just sprained? Regardless, it took time to recover and we will have to do things differently. (Read More…)
There is an old saying in golf: “Drive for show, putt for dough.” For those not familiar with golf, it’s a reminder that while your drives off the tee might be impressive, putting is the real key and usually determines who collects the winner’s check. In the BHPH industry, our saying might be, “Sell for pride, collect for profit.” Like golf, much has been written about the skills and best practices of collections. Topics range from account aging analysis, GPS technology and related finance companies to the basics of hiring and training. (Read More…)
In April 1990, Gary Page took a chance on his dream. Using $10,000 he’d saved while working as an investment banker fresh out of business school and an equal amount from a loan acquired using his money as collateral, Page founded SDA Inc., as a floorplan company serving dealers in the Atlanta area. Thirty years later, SDA has grown into one of the largest providers of capital to Buy Here-Pay Here dealers nationwide. (Read More…)
New Year’s resolutions can be an effective way to stimulate growth and re-energize the staff for a new year. The secret to making resolutions work is to keep them simple, start small, communicate your plans and, most important, reward yourself for success. Every person and business can benefit from resolutions – including the best BHPH dealers in the industry. Here are ideas that can help get you started. RESOLUTION 1: TRIPLE THE CUSTOMER DATABASE – Digital and social marketing are here to stay. Dealers with up-to-date customer information, including emails and cellphone numbers, are ahead of the game. (Read Article)
BHPH Dealer Magazine – (October 2019) Mr. Gary Page, chief executive officer of SDA: Blinders were placed on horses to prevent them from looking back or seeing what’s on the side – forcing them to only focus forward. Distractions are everywhere you look. Changing interest rates, tariffs, regulation, election uncertainty, and recession fears all serve as daily distractions. Our own industry publications and daily news emails share stories (distractions) that can cause you to take your eye off the ball. The reality is that very few of these distractions impact the Buy Here – Pay Here (BHPH) customer and rarely interfere with their buying decision. Read Article
BHPH Dealer Magazine – (August 2019) – Mr. Gary Page, chief executive officer of SDA: If you had more cars on the lot – could you sell them? Simple math suggests that if you sell more cars, dealership profits increase. If it was that easy we would all be retired and relaxing on our private island. One thing is for sure. You have to know your numbers, especially time to breakeven. Breakeven, sometimes referred to as “days on the street,” is the number of weeks before you recoup the cost of the vehicle. This simple math can triple your profits….Read Article
More than $1 Trillion in Purchasing Power
BHPH Dealer Magazine – (April 2019) 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: 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.
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…]
