Merger Creates Succession Plan for NABD and a Combined Mega-Conference for the Used Vehicle Industry  Arlington, Texas (Dec. 20, 2017) --  The National Independent Automobile Dealers Association has acquired the assets and operations of the National Alliance of Buy Here-Pay Here Dealers and will merge NABD’s conference and educational services into those of NIADA. NIADA closed on the acquisition Dec. 14, completing more than two years of review, strategic discussions and due diligence. The merger provides a succession plan for NABD, founded in 1998 by Ken Shilson. “We are thrilled to formally join forces with Ken Shilson, Ingram Walters and the entire NABD team as we move forward together with a long-term NABD succession plan,” NIADA CEO Steve Jordan said. “NABD has provided a strong voice and specialized educational resources to more than 14,000 m... [ Read more... ] 

    FOR IMMEDIATE RELEASE:  Advantage GPS Starts a Revolution with Auto Industry’s First Wire-Free GPS Tracking Devices Company introduces a family of next generation Revo GPS tracking devices that allow auto lenders to protect their vehicle assets without hardwire installation — nearly eliminating installation failures and costs   IRVINE, CA, January 24, 2019 — Advantage GPS, a Procon Analytics company that captures and translates raw data into actionable business intelligence, today launched the automotive finance industry’s first and only wire-free GPS tracking devices. Revo is a game-changing, wire-free family of GPS vehicle tracking devices that revolutionize the way buy here pay here dealers and vehicle finance companies protect their collateral and gain valuable automotive analytics.   “Over the past 10 years... [ Read more... ] 

Dick VitaleCollege Basketball Analyst, ABC Sports and ESPNDick Vitale, college basketball’s top analyst and ambassador, joined ESPN during the 1979-80 season—just after the network’s September 1979 launch—following a successful college and pro coaching career. In 2008, Vitale received the sport’s ultimate honor when he was selected as an inductee into the Naismith Memorial Basketball Hall of Fame.His thorough knowledge of the game is brought forth in an enthusiastic, passionate, sometimes controversial—but never boring—style.Vitale called ESPN’s first-ever major NCAA basketball game—Wisconsin at DePaul on Dec. 5, 1979 (a 90-77 DePaul win). Since then, he’s called over a thousand games.He has been profiled by a wide array of national magazines, ranging from Sports Illustrated, Sport and The Sporting News to People, Playboy and&... [ Read more... ] 

  By David Brotherton   When your typical Buy Here-Pay Here dealer got into business, he signed up for a DMS system based, more often than not, on price. Most people don’t really know what to look for the first time they are buying software and it takes some experience to realize what you need. Don’t get me wrong, there are some excellent low-cost solutions available for our industry that have served many dealers well for many years. I’m not suggesting everyone should line up for the most expensive platform with all the bells and whistles. Paying for features you won’t really need for years and for integrations with platforms you might not stick with is a waste of money. Now that you have started reviewing your DMS options, it is important to understand converting existing data and changing platforms will be painful. Conversions have ... [ Read more... ] 

By Kenneth Shilson, CPANABD – Founder/President             NABD is pleased that the devastation of Hurricane Harvey is now in the rear view mirror and that recovery from this disastrous storm is now underway. Thanks to everyone for their kind thoughts and prayers as Houston and Texas travel down the road to recovery! Those who survived and successfully rebounded from Hurricane Katrina understand what is ahead for Texas and particularly for Houston, which is our nation’s fourth largest city!            The impact on the automotive industry from Hurricane Harvey will be felt for years into the future. Insurance companies are rushing to process an estimated 500,000 Texas vehicles waterlogged during Tropical Storm Harvey’s record rainfall, a catastrophe expected t... [ Read more... ] 

 

NABD Announces Orlando BHPH Conference October 23 – 25, 2017   HOUSTON, TEXAS – The National Alliance of Buy Here Pay Here Dealers (NABD) today announced its 14th Annual Buy Here, Pay Here (BHPH) Conference in Orlando, Florida at the Rosen Centre. The Conference theme is “Opportunity Knocks – Best Ways to Respond.” President and founder Ken Shilson indicated, “The last 24 months have been extremely challenging for BHPH operators, but better days are head!” Increased competition, plus higher operating and compliance costs, have combined to reduce profits and BHPH market share, Shilson explained. However, competition is declining and former BHPH customers will reenter the finance market when they default on vehicles they bought from the competition. This Conference will address ways to regain market share, find capital, avoid compliance mistakes, an... [ Read more... ] 

  LITTLETON, Colorado- May 22, 2017-PassTime announced today it has named Jeffrey (Jake) Frank Chairman and CEO of the company.  Additionally, the company has appointed Chris Macheca President in addition to remaining as the company’s Chief Operating Officer.  Jake Frank is the co-founder of PassTime and previously served in numerous executive positions in the past, including Executive Vice President.  Mr. Frank received a Bachelor of Science degree from Penn State University and a master’s degree from the University of Virginia. Since 1990, he has worked in the auto industry and since founding the company in 1992, Mr. Frank has been instrumental in the continued success of PassTime over the past several decades.  Chris Macheca has been with the company for 19 years.  During his career at PassTime, Mr. Macheca has be... [ Read more... ] 

  Dear NABD Member,      You already know how competitive our industry has been during the last 24 months and that competition has brought changes in the BHPH business.  The old ways don't work like they used to; so we must implement some new operating practices.  At our 19th Annual National Conference at the fabulous Wynn / Encore on May 23 - 25, we will help you adapt to these new challenges with creative ideas, tips and information for success.  The conference theme is the "Changing World of BHPH and NABD".      NABD is changing too!  After nineteen great years we are now developing a succession plan on how NABD will continue in the future.  In January, I celebrat... [ Read more... ] 

The Changing World of Buy Here, Pay Here and of NABD!            By: Kenneth Shilson, CPA, President and Founder, Conference Chairman                 During the last year I have emphasized the many changes in the BHPH business during the last 24 months. In this article, I will also discuss the changes in our 19th annual BHPH conference May 23-25 at Wynn/Encore in Las Vegas (NABD 2017) where we will help attendees meet these new industry challenges.                 In the general education sessions which begin on Tuesday afternoon (May 23rd) and Wednesday morning (May 24th) we will answer attendee’s questions during interactive sessions covering; 1.    ... [ Read more... ] 

 NABD Completes New BHPH Industry Benchmarks Report!   Houston, TX – The National Alliance of Buy Here, Pay Here Dealers (NSBD) today announced the completion of their annual industry benchmarks for the year ended 2016 with forward looking commentary and comparisons with prior years. Ken Shilson, CPA and the President and Founder of NABD announced that this comprehensive report is the 19th consecutive year it has been published. “This year the report contains 20 Group operating information from both NCM and NIADA, financial results and ratios from SGC Certified Public Accountants and loss metrics prepared by Subprime Analytics. Shilson also provides extensive commentary to help readers understand the significance of the data. This is the most comprehensive report we have ever published on subprime auto finance,” Shilson declared. “Our benchmar... [ Read more... ] 

Houston, TX – The National Alliance of Buy Here, Pay Here Dealers (NABD) today announced the details of their 19th Annual BHPH Conference at the Wynn/Encore in Las Vegas on May 23rd-25th. The conference theme of this show is “The Changing World of Buy Here, Pay Here” because the event will focus on operators can compete successfully in the highly competitive subprime auto finance market of today, Ken Shilson, President of NABD explained.             The show will begin at 1:00 PM on Tuesday afternoon on May 23rd with a first-time attendee reception. This reception will be followed by general education sessions which feature critical decisions for success, a legislative and regulatory update, an evolutionary view of wholesale acquisition, and a benchmarks/trends update. Tuesday afternoon concludes with a gala welcome r... [ Read more... ] 

Recent press about Subprime auto loan performance has highlighted concerns about this market segment. “The Federal Reserve recently expressed concern that delinquencies among auto borrowers with weak credit has been rising.” A recent article in USA Today entitled, “It’s Tougher to Get a Credit Card, Car Loan” noted that the number of subprime auto loans (those requiring a FICO score of 600 or lower) that were at least 90 days late on payments hit the highest level since 2010 in the third quarter of 2016 at 6 million, according to the New York Fed. The bulk of bad loans were by auto finance companies rather than banks,” they said. In February, Wall Street analyst Wolf Richter published an in-depth report and analysis called, “Seriously Delinquent” Auto Loan Surge which provides some excellent insights into the causes and predicts what may be ahead. Here a... [ Read more... ] 

Recent press about Subprime auto loan performance has highlighted concerns about this market segment. “The Federal Reserve recently expressed concern that delinquencies among auto borrowers with weak credit has been rising.” A recent article in USA Today entitled, “It’s Tougher to Get a Credit Card, Car Loan” noted that the number of subprime auto loans (those requiring a FICO score of 600 or lower) that were at least 90 days late on payments hit the highest level since 2010 in the third quarter of 2016 at 6 million, according to the New York Fed. The bulk of bad loans were by auto finance companies rather than banks,” they said. In February, Wall Street analyst Wolf Richter published an in-depth report and analysis called, “Seriously Delinquent” Auto Loan Surge which provides some excellent insights into the causes and predicts what may be ahead. Here a... [ Read more... ] 

Recent press about Subprime auto loan performance has highlighted concerns about this market segment. “The Federal Reserve recently expressed concern that delinquencies among auto borrowers with weak credit has been rising.” A recent article in USA Today entitled, “It’s Tougher to Get a Credit Card, Car Loan” noted that the number of subprime auto loans (those requiring a FICO score of 600 or lower) that were at least 90 days late on payments hit the highest level since 2010 in the third quarter of 2016 at 6 million, according to the New York Fed. The bulk of bad loans were by auto finance companies rather than banks,” they said. In February, Wall Street analyst Wolf Richter published an in-depth report and analysis called, “Seriously Delinquent” Auto Loan Surge which provides some excellent insights into the causes and predicts what may be ahead. Here a... [ Read more... ] 

As the year closes, it is time to look forward and plan for next year. Recent performance data for the subprime auto finance market indicates that better days are ahead for independent BHPH operators who can capitalize on the opportunities. Recent data from Experian indicates that through the third quarter of 2016, “installment finance contracts with deep-subprime consumers dropped 2.8%  to the lowest level on record since 2011! Looking specifically at used vehicle financing, analysts noted that the subprime auto finance sectors saw an even larger decrease. Financing for consumers with deep-subprime credit dropped by 5.3% to 5.11%, the lowest Experian has seen on record since 2007.” This market change with deep-subprime customers (who prior to 2014 purchased BHPH vehicles from independent operators) subsequently bought and financed them from franch... [ Read more... ] 

HOUSTON, TEXAS – The National Alliance of Buy Here, Pay Here Dealers (NABD) today announced the successful completion of its Best Practices Conference held last week at the fabulous Rosen Shingle Creek Resort in Orlando, Florida. Operators from around the United States and Canada attended the 3 day event with the theme “Best Practices to Succeed Now.” The dual track program featured sessions on both best practices and on compliance. “Approximately 60% of the attendees surveyed had never been to an NABD conference previously,” said Ken Shilson, President of NABD. The conference opened with 14 different workshop sessions covering: vendor compliance, recoveries, millennial marketing, new technology, deal jacket compliance, reconditioning, F&I best practices, tax refunds, payment devices, capital solutions, LHPH, and the latest accounting/tax development... [ Read more... ] 

OPPORTUNITY KNOCKS FOR BHPH DEALERS!By: Kenneth Shilson, President/Founder, NABDRecent developments in the subprime auto finance market indicate that better days are ahead for the BHPH industry! The last 24 months have seen fierce competition for deep subprime customers from credit unions, finance companies and franchise dealers. Much of this competition has been fueled by billions of dollars from auto bond securitizations packaged by Wall Street and sold to investors who were seeking high investment yields. Some recent indicators suggest that better subprime market conditions are ahead for independent BHPH operators as follows:1. Some of the deep subprime auto bond securitizations are not performing as projected and further deterioration is expected during the summer months.2. Inventory availability continues to improve from auto bond repos, off lease and rental vehicles, and fr... [ Read more... ] 

HOUSTON, TEXAS – The National Alliance of Buy Here, Pay Here Dealers (NABD) released details of its upcoming BHPH Conference at the Rosen Shingle Creek Resort in Orlando, Florida on November 1-3, 2016. The conference theme is “Best Practices to Succeed Now!,” and is designed for both new and experienced operators. This will be the 13th annual fall conference by NABD, which is the largest used car special interest group for BHPH operators with more than 13,000 members. The conference features dual-track workshop sessions, starting at 3:00 PM on November 1st, which will be focused on best operating practices, compliance, technology, and new developments that operators must learn to succeed in the highly competitive subprime auto finance market of today. The program includes several of the nation’s leading attorneys, experts, and successful operators who will share th... [ Read more... ] 

 

 

By: Kenneth Shilson President, NABD             Operating successfully in the buy here, pay here industry has become more challenging due to increased regulatory pressures and competition.  Independent BHPH dealers have lost approximately 33% of their market share during the last 24 months and best operating practices are not working like they used to!  In this article I will discuss what is “driving” the increased subprime auto competition and suggest ways for independent operators to compete.  The regulatory challenges are not going to disappear so the BHPH industry must face them “head on”! Increased competition by credit unions, finance companies, and franchise operators has been “fueled” by cheap money and an investor appetite for higher yielding returns.  In response, W... [ Read more... ] 

Sacramento, CA – January 18, 2016 – DBA International is pleased to announce that the National Alliance of Buy Here, Pay Here Dealers (NABD) has become an Authorized Education Provider. Those in the receivables industry can earn continuing education credits toward DBA International certification for completion of in-person, live webinar, or online courses offered through NABD.             NABD earned the Authorized Education Provider designation by demonstrating excellence in providing instruction to the buy here, pay here (BHPH) industry. The association is dedicated to improving the quality of BHPH dealers through education, ongoing training, and by promoting the interests of self-finance dealers nationwide. NABD hosts two large, well-attended conferences each year, two of which DBA International board membe... [ Read more... ] 

HOUSTON, TEXAS – The National Alliance of Buy Here, Pay Here Dealers (NABD) today announced the successful completion of a Boot Camp in Monroe, North Carolina on January 9-10, 2016. The training took place at the operations of Ingram Walters and included tours of his entire operations. Attendees received procedures and human resources manuals, compliance materials, financial modeling software, and many other resources to help them operate more successfully.                 NABD President Ken Shilson indicated, “This is the only BHPH training where attendees can see a BHPH operation while learning in the classroom. Attendees from around the nation attended this two-day session. Boot Camp sponsors included Auto Zone, Auto Search Technologies, Primalend, and Stars GPS, who made expert presentations dur... [ Read more... ] 

                HOUSTON, TEXAS – The National Alliance of Buy Here, Pay Here Dealers (NABD) today announced the successful completion of its Best Practices and Compliance Conference held last week in Orlando, Florida. Operators from around the United States and other countries attended the 3-day event, which ended November 5. The dual track program featured sessions on best operating practices and BHPH compliance.                 Ken Shilson, CPA, founder and President of NABD, indicated that the compliance track “featured the greatest collection of legal talent in the 18-year history of NABD!” Attorneys Dave Bafumo, Trish Cacciola, Susan Chylik, Allen Denson, Mark Edelman, Tom Hudson, Eric Johnson, Terry O’Loughlin, and Shaun Peterson explained and di... [ Read more... ] 

                HOUSTON, TEXAS – The National Alliance of Buy Here, Pay Here Dealers (NABD) released the details of its upcoming Buy Here Pay Here (“BHPH”) Conference in Orlando, Florida at the Wyndham Orlando Resort International Drive on November 3-5, 2015. The Conference theme is “More Success, Less Risk”, and the Conference is designed for both new and experienced operators.                 This will be the 12th Annual East Coast Conference by NABD, which is the largest used car special interest group for BHPH operators in the U.S. with over 12,000 members. The conference features dual-track workshop sessions starting at 3:00 PM on Nov. 3, covering BHPH best operating practices, and compliance. The program features many of the nation’s leading... [ Read more... ] 

 

HOUSTON, TEXAS – The National Alliance of Buy Here, Pay Here Dealers (NABD) today announced the successful completion of their 17th annual National BHPH Conference at the Wynn, Las Vegas, Nevada on May 19-21. Operators and experts from around the nation and Canada gathered to hear more than 70 speakers and panelists during the three day event.             The conference theme was “The Very Best of Buy Here, Pay Here” and featured an NABD Hall of Famers panel who shared tips, best practices and their visions on how to operate successfully. The panel included newly inducted Don Foss of Credit Acceptance Corporation and CARite, Ed Bass of Overland Bond, Chicago, Illinois, Julian Codding, Reliable Autos, Oklahoma City, Oklahoma, and John Linnehan, Jr. of Credit Now Auto Company, Ellsworth, Maine.  Conference Chair... [ Read more... ] 

Thank you for attending our NABD 17th National Conference for Buy Here, Pay Here. We are pleased to be back at the Wynn and believe that the beautiful facilities and this year’s room rates make this venue exceptional.    Our conference theme is “The Very Best of Buy Here, Pay Here.”  The workshops and the general education sessions which follow these workshops feature industry experts, attorneys, and our NABD Hall of Famers. These speakers have been chosen from “the best of the best” and we have over 70 speakers this year. We appreciate their participation and willingness to share their expertise with all of us! Several of the workshops and educational sessions are new this year as we strive to keep the program fresh. Please turn in your evaluation form during the conference so we can consider suggestions for future NABD events.    ... [ Read more... ] 

            HOUSTON, TEXAS - The National Alliance of Buy Here, Pay Here Dealers (NABD) today announced that it will host its 17th Annual BHPH Conference at the Wynn in Las Vegas May 19-21, 2015. The program is designed for both new and experienced operators who want to be more successful in the competitive subprime auto finance market of today. The conference theme is “The Very Best of Buy Here Pay Here”, and the conference features many of the nation’s most successful operators and industry experts.             Kenneth Shilson, CPA, NABD founder and Conference Chairman explained that “this year we have added several new sessions to our agenda, including: a first-time attendee reception, a Hall of Fame Members Best Practices Panel, reporting to credit bureaus when you are a small... [ Read more... ] 

 

By Kenneth Shilson, CPA President Subprime Analytics               As this year closes, buy here, pay here (BHPH) operators will review their year-end results. This usually involves looking at financial statements, preparing tax returns, and studying vehicle sales numbers. None of this information evaluates the performance of a BHPH operator’s biggest asset – their installment contract portfolio!             The use of three basic metrics is the only way to evaluate portfolio metric performance. These three basic metrics are needed to measure portfolio performance: 1.       Static pool loss rate 2.       Loss / liquidation rate 3.       Default ... [ Read more... ] 

 By:  Kenneth Shilson, CPA         President / Founder NABD                   Last week I participated in the NIADA Leadership Meetings in Washington, D.C.  This allowed me to discuss matters of great importance to the BHPH Industry with both regulators and members of Congress. Here are some take aways from those meetings: Several members of Congress indicated that the “tax extender” provisions will likely be approved by Congress before they recess in December!  This indicates that tax refunds should not be delayed significantly in 2015. I anticipate these tax refunds will begin around February 1st provided that Congress acts as they indicated.  The competition for these refunds has increased as subprime lenders, credit un... [ Read more... ] 

                  HOUSTON, TEXAS – The National Alliance of Buy Here Pay Here Dealers (NABD) announced the successful completion of its sixth BHPH Boot Camp in North Carolina on August 2-3. The Boot Camp training was conducted at the operations of iCars (in Monroe, North Carolina, just outside of Charlotte), which is owned and operated by Ingram Walters. “This allowed attendees to attend classroom training and to receive in-the-field training at one of the nation’s best operations!” said Ken Shilson, CPA, the co-instructor at the Boot Camp.             The training featured a complete tour of the entire iCars operation and included personalized training sessions with each attendee. The “sold out” program had 27 attendees ... [ Read more... ] 

By Kenneth Shilson, CPA President/Founder Subprime Analytics National Alliance of Buy Here, Pay Here Dealers (NABD)               Success in Buy Here, Pay Here (BHPH) is frequently measured by how many vehicles a dealer sells each month or year.  Although sales are important, this article will focus on other areas which are important to BHPH success.  “Keeping them sold” is important to long-term success and  requires good  underwriting and collections, efficient systems and processes, a cash efficient business model, financial flexibility, a compliance management system, and portfolio metrics. I will discuss each of these in this article.   A careful look at the most successful BHPH operators of today reveals that they:   Manage credit risk successfully.Utilize... [ Read more... ] 

Click here to download PDF.  

Houston, Texas – The National Alliance of Buy Here, Pay Here Dealers (NABD) today announced that it will host its 16th Annual Buy Here, Pay Here (BHPH) Conference at Wynn Las Vegas on May 20-22, 2014. This is the industry’s largest BHPH Conference and trade show. Ken Shilson, CPA and founder of NABD, explained, “The 2014 National Conference will focus on all the latest industry developments, trends, benchmarks, compliance and other important industry changes since last year. In addition, the trade show this year will be the largest in BHPH history and will include all the newest products and services to make attendees more successful. Last year, approximately 1,800 attendees participated in the 2013 National Conference and Dealer Academy, together making them the largest used car event in the automotive industry,” Shilson said. Rick Hackett, who most recen... [ Read more... ] 

          Houston, Texas – The National Alliance of Buy Here, Pay Here Dealers (NABD) today announced that it will host a BHPH Compliance Academy at the Wynn in Las Vegas on May 18-20, 2014. This program is designed for both new and experienced operators who want to learn about important compliance matters and ways to implement them through best practices. Kenneth Shilson, CPA, founder, and conference chairman explained, “The Compliance Academy replaces our previous “sold out” Dealer Academy which has preceded our National BHPH Conference for the past two years. With the CFPB, the FTC, and state Attorneys General now focusing on the BHPH industry, compliance needs to take ‘center stage’. This Academy will benefit people entering the business, owners, key employees, capital providers, chief compliance off... [ Read more... ] 

By Kenneth Shilson, CPA President/Founder National Alliance of Buy Here, Pay Here Dealers (NABD) Subprime Analytics Although the year-end financial results for Buy Here Pay Here (BHPH) operators are still being compiled and individual results will vary, the NABD members I surveyed about 2013 performance indicated the following: 1) Unit sales for most operators were flat or declined (some by up to 25%) from 2012; due primarily to increased market competition from special finance sources that extended credit to BHPH customers. Individual operators were affected by varying levels of special finance competition in their local markets. Some operators expanded their facilities (added lots) to increase their market share. Market data indicated that the BHPH deep subprime financing market share declined by more than 20% in 2013, while the market share for subprime finance com... [ Read more... ] 

NABD 2013 EASTCOAST CONFERENCE PRESENTATIONS -> 

  Thank you for attending this NABD East Coast BHPH Conference. We understand that not everyone can attend our national conference in Las Vegas each May, so we believe this New Orleans venue will benefit those operators and sponsors in the eastern part of the United States. If you also attended our National Conference in Las Vegas last May; great news. This conference includes new speakers, sessions and information not previously covered last May.   Our special thanks to the Louisiana Dealers Association and others from Alabama, Arkansas, the Carolinas, Georgia, Mississippi, Tennessee and other state associations who are co-sponsoring this event. Local and state associations and NIADA play important roles in providing operators with relevant information needed to stay “on top of their game.” NABD was created to complement, not replace, other automotive a... [ Read more... ] 

Houston, Texas – Today the National Alliance of Buy Here, Pay Here Dealers (NABD) announced the details for its upcoming East Coast BHPH Conference to be held at the fabulous Hyatt Regency Superdome Hotel in New Orleans on November 3-5, 2013. The Hyatt Regency Superdome is the newest and most modern hotel in New Orleans, and was the host hotel for the 2013 NFL Super Bowl! NABD has arranged discounted room rates of $169.00 per night – while supplies last – which expire on October 4, 2013. The Conference begins on Sunday, November 3 at 4:00 PM with concurrent workshops covering twelve topics of timely importance. These workshops feature industry experts, including leading attorneys Tom Hudson, Terry O’Loughlin, and David Bafumo. “These workshops will be highly interactive and will not be infomercials,” said Ken Shilson, Conference chairman. “Fo... [ Read more... ] 

  ITURAN®Leads Transition to 3G GPS via Innovative New Products   ITURAN, a company specializing in GPS-enabled vehicle tracking technology, is leading the way forward into 3G GPS.   Ft. Lauderdale, Florida, September 11, 2013—   For years, GPS tracking and vehicle protection technologies have made use of low-cost 2G bandwidth—but with most cell phones now requiring 3G or 4G, companies like AT&T and Verizon are phasing out their 2G networks; in what experts call the “2G sunset,” 2G bandwidth will be altogether extinct in the next three years. This has left many GPS technology companies in a bind, but one corporation, ITURAN, is leading the charge forward.   In a new press statement, ITURAN USA’s Product Director, Meir Schwartz, says the decline of 2G has urgent effects for all who use GPS t... [ Read more... ] 

Heard "in the Trenches" about the latest NABD Buy Here, Pay Here Boot Camp 

For more information Please click the link www.carmaxauctions.com   

    By Kenneth Shilson, CPA       Founder/President       NABD/Subprime Analytics   The first half of 2013 is now in the rearview mirror for the buy here, pay here industry and it’s time to look back. Many operators reported lower unit sales versus the same period last year. Two important questions are, “Why?” and “What can be done to improve unit sales during the remainder of the year?” I address both in this article. Experian Automotive provides excellent information quarterly on automotive market share. Their numbers for the first quarter of 2013 indicated that BHPH market share declined 6.4%. Although a 6% decline is not good, the real math is worse. Experian reports that BHPH market share declined from 17.1% to 10.7%. Therefore, the real decrease was actually 33... [ Read more... ] 

             HOUSTON, TEXAS– The National Alliance of Buy Here Pay Here Dealers (NABD) today announced the details for its annual East Coast Buy Here Pay Here (BHPH) Conference on November 3-5, 2013. The conference will be held at the Hyatt Regency New Orleans Superdome hotel. These outstanding facilities were the host hotel for the 2013 NFL Super Bowl and are the most modern in New Orleans.             The agenda this year will focus on making the right decisions to succeed in BHPH today, and the conference theme is appropriately entitled, “Critical Decisions that Bring Success!” explained Ken Shilson, NABD President and Conference Chairman. Highlights include a legal and regulatory update, interactive sessions with capital providers, two workshops cond... [ Read more... ] 

Heard On the Street About Buy Here Pay Here Week  

Houston, Texas – May 28, 2013 – The National Alliance of Buy Here, Pay Here Dealers (NABD) announced today that dealers, experts and operators gathered in Las Vegas from May 19-23, 2013 to learn and to interact during five days of education and networking during Buy Here Pay Here Week. “Our Dealer Academy which preceded the National Conference included dual tracks for both new and experienced operators,” said Ken Shilson, CPA, and Conference Chairman. “Overall attendance included approximately 1,800 attendees. The Dealer Academy focused on all the important operational and financial aspects of the business and stressed the importance of compliance. The NABD 2013 National Conference updated attendees on the latest benchmarks and trends, technology, capital, inventory acquisition and reconditioning tips and techniques, and the latest regulatory and compliance updates.” Ken ... [ Read more... ] 

Kenneth B. Shilson, CPA Founder/President, NABD National Alliance of Buy Here Pay Here Dealers (NABD) 2180 N Loop West Suite 270 Houston, TX 77018       Kelvin Atkinson, State Senator Nevada Legislature     Re: Proposed Bill AB 187   Dear Senator Atkinson, and other members of the Assembly:   My name is Ken Shilson. I am the founder and president of the National Alliance of Buy Here Pay here Dealers, which includes well over ten thousand dealers.  We as a group have financed hundreds of thousands of vehicles over the past five years in Nevada and across the country. I have been asked by PassTime Inc. and others in the electronic payment assurance industry to offer my position as to the two proposed bills pending before the Assembly – or soon to be pending in that body.  ... [ Read more... ] 

By Kenneth B. Shilson, CPA Founder/President, NABD President, Subprime Analytics   With the close of another year, most Buy Here, Pay Here (BHPH) operators will evaluate last year’s performance by comparing their financial results with the past. They will base their goals and strategy for the next year by looking at financial and operating metrics like unit sales, gross sales revenue (in dollars), the growth in their installment portfolio, and their net income. Although these represent the standard benchmarks for planning, they omit a very critical element: Compliance! The BHPH industry faces some important new legal and regulatory challenges from the newly formed Consumer Financial Protection Bureau (CFPB), the Federal Trade Commission (FTC), and the Attorney Generals’ offices in each state. All of these regulatory authorities will be monitoring cons... [ Read more... ] 

2012 National Conference Highlights 

HOUSTON, TEXAS – The National Alliance of Buy Here Pay Here Dealers (NABD) in conjunction with SGC Certified Public Accountants (SGC) and NCM Twenty Groups (NCM) announced that they have just completed their 2012 buy here, pay here benchmarks. These NABD benchmarks include operating information on sales, collections and recoveries, inventory, and inventory management. In addition, they also include portfolio performance metrics compiled electronically by Subprime Analytics (Subprime), who has analyzed over $10 billion of BHPH deals to indentify industry loss rates, patterns and trends. In the aggregate, these benchmarks provide the most comprehensive and credible look at the financial and operating performance of the industry for the last three years and important trend information for earlier periods. Kenneth Shilson, CPA and President of NABD, said these benchmarks provide a ... [ Read more... ] 

Houston, Texas – The National Alliance of Buy Here, Pay Here Dealers (NABD) today announced that it will host its 15th annual National Conference at the Wynn in Las Vegas on May 21-23, 2013. NABD is the only automotive conference exclusively for BHPH. Ken Shilson, CPA and founder of this 15-year-old special interest group, explained, “BHPH opportunities have never been better than in the low-yielding environment of today for operators who understand the business and avoid pitfalls and costly mistakes!” Therefore, our conference theme is “Operating Successfully in the Current BHPH Environment”. “The program has been designed to provide operators with access to capital, the latest technology, and all the compliance moves they should make now. Last year approximately 1,800 attendees participated in our National Conference and Dealer Academy making the... [ Read more... ] 

Houston, Texas – The National Alliance of Buy Here, Pay Here Dealers (NABD) today announced that it will host a BHPH Dealer Training Academy at the Wynn in Las Vegas on  May 19-21 exclusively for buy here, pay here operators. Kenneth Shilson, CPA, founder and conference chairman explained that “the Dealer Academy is designed to provide in-depth, comprehensive training on all facets of buy here operations. It is ideally suited for people who are entering the business, for key employees seeking to expand their knowledge and skills, and for those who want to improve the performance of their existing operations.” This training is a “gateway to buy here, pay here success” which is our Academy theme this year,” Shilson said. Success or failure in buy here, pay here can generally be attributed to several critical decisions which every operator mu... [ Read more... ] 

With the close of another year, most Buy Here, Pay Here (BHPH) operators will evaluate last year’s performance by comparing their financial results with the past. They will base their goals and strategy for the next year by looking at financial and operating metrics like unit sales, gross sales revenue (in dollars), the growth in their installment portfolio, and their net income. Although these represent the standard benchmarks for planning, they omit a very critical element: Compliance! The BHPH industry faces some important new legal and regulatory challenges from the newly formed Consumer Financial Protection Bureau (CFPB), the Federal Trade Commission (FTC), and the Attorney Generals’ offices in each state. All of these regulatory authorities will be monitoring consumer complaints to identify regulatory violations and those operators who are violating the rules. These... [ Read more... ] 

By Nick Zulovich, Editor August 20, 2012 MONROE, N.C.— A mix of aspiring and experienced buy-here, pay-here dealers left this past weekend's training boot camp hosted by the National Alliance of Buy-Here, Pay-Here Dealers with the complete business plan, current financial and sales statements and more from a 20-year operator.   So why would Ingram Walters pass out three-inch thick three-ring binders overflowing with current inventory run lists, marketing scripts and strategies and to-the-penny details of employment compensation of all personnel?   "When we do Las Vegas, it's so big. There are 2,000 people there. It's almost overwhelming," Walters said about NABD's annual convention that's been conducted for the past 14 years.   "When you're here, you're touching it, seeing it, feeling it, kickin... [ Read more... ] 

“The sports lounge and the other new features of the exhibit hall made this show outstanding for both attendees and exhibitors. We will be sponsoring both the NABD 2013 Conference and the Dealer Academy at the Wynn in Las Vegas next May. Can’t Wait!!!”  - Bill Neylan, Tax Refund Services  Tampa, Florida “Enjoyed time with Tom Hudson and Ingram Walters, two great minds in the industry. Ingram was willing to talk with me for a while. Make sure people like Ken, Tom and Ingram are here and I’ll keep coming!”  - Mitch Rank, Paul Sherry Car’n Credit  Piqua, Ohio “NABD East Coast was very helpful for my staff. The conference was very informative and they enjoyed it. Our collections manager learned several skip searching techniques which are always extremely helpful and the last session on collections was h... [ Read more... ] 

HOUSTON, TEXAS – The National Alliance of Buy Here, Pay Dealers (NABD) announced the successful completion of another East Coast Buy Here, Pay Here Conference (BHPH) in Atlanta, Georgia. Operators from around the United States and internationally attended the 3-day event which ended October 23. Other notable attendees included senior members of the Consumer Financial Protection Bureau (CFPB) and leaders from industry groups such as the National Independent Automobile Dealers Association (NIADA) and others. Ken Shilson, CPA, Founder and President of NABD, indicated the educational program began with twelve dual track workshop sessions on Sunday afternoon and Monday morning. Workshop topics included legal and regulatory matters, finding the best employees, IRS audits, leasing, integrated system solutions, finding the best customers, maximizing recoveries, telephone collection ... [ Read more... ] 

The BHPH industry recently received some very good news when California Governor Jerry Brown vetoed Senate Bill 956, which would have adversely impacted BHPH operators in that state. Various BHPH industry groups lead by NIADA including NABD, CAFA, IAFA, Drive Time and the California Dealers Association, along with several independent dealers, formed a "Coalition to Protect Our Freedom to Drive"!! This victory would not have happened without these collective efforts within our industry. At our upcoming conference in Atlanta, Georgia on October 21-23, 2012 NABD has invited industry leaders from various groups to discuss future legislative efforts and to update operators on the changing legal and regulatory landscape. The Conference will include an interactive panel discussion with these industry leaders, a capital markets update, new important industry data and trend informat... [ Read more... ] 

At a recent automotive conference I made a presentation that concluded with the statement, that “in the low yielding economic environment of today, BHPH profit opportunities have never been better.” In this article I will detail my reasons for that conclusion.  Plenty of New Customers – Experian Automotive now estimates that over 20% of all used vehicle loans made during the quarter ending June 30, 2012 were with customers who had a 550 Beacon  Score or less. About 16% of that market was attributable to buy here, pay here. Given the challenging economic environment of today, finding credit-challenged “unbankable” consumers is no problem. Finding unbankable customers who will repay their auto loans requires experience, education, and underwriting and collection skill. Access to Capital – The capital markets are now opening and... [ Read more... ] 

HOUSTON, TEXAS – The National Alliance of Buy Here Pay Here Dealers (NABD) today announced the details for its annual East Coast Buy Here Pay Here (BHPH) Conference on October 21-23, 2012. The conference will again be held at the Georgia International Convention Center (GICC) and adjoining Atlanta Airport Marriott Gateway hotel. These outstanding facilities are linked to the Atlanta Hartsfield airport by a dedicated sky train so attendees will not need ground transportation. The agenda this year will focus on the numerous new developments which are occurring in the BHPH industry, and the conference theme is appropriately entitled, “The Changing Word of BHPH Today!” explained Ken Shilson, NABD President and Conference Chairman. Highlights include a legal and regulatory update, interactive sessions with new capital providers, and all the latest new technology which... [ Read more... ] 

Houston, Texas – The National Alliance of Buy Here Pay Here Dealers (NABD) announced today that they will hold a BHPH boot camp in Monroe, North Carolina (a suburb of Charlotte) on August 18-19, 2012. The boot camp will provide hands-on training for attendees who are entering the industry, and those who have limited or no experience. All of the training sessions will be held at the facilities of iCars which is owned and operated by Ingram Walters and is one of the nation’s most successful BHPH operations. “This boot camp will allow attendees to actually see and learn about the BHPH best practices at the same time,” said Ken Shilson, CPA and NABD founder. “We have constructed a comprehensive agenda which will address all of the key financial and operational aspects of running a successful BHPH business.” All training sessions will be conducte... [ Read more... ] 

Houston, Texas – May 2, 2012 - The National Alliance of Buy Here Pay Here Dealers (NABD) today announced the completion of it annual benchmark information. These benchmarks are a composite from “best performing” dealers and twenty group members of NCM Twenty Groups. In addition, information on losses and portfolio performance metrics are provided by subprime portfolio analysts and consultants at Subprime Analytics, PC. The latest benchmarks include information on profitability, sales, collections and recoveries and inventory management, as well as important industry trend information. At the Fourteenth Annual NABD National Buy Here Pay Here Conference on May 16-18, 2012, NABD President, Ken Shilson, CPA and NCM Moderator, Brent Carmichael will discuss these benchmarks and industry trends with attendees who will receive a complete copy. In addition, Ken Shilson will e... [ Read more... ] 

Success in the buy here, pay here industry is best measured over many years and not over shorter intervals. It should be based upon a lifetime of work and not a single year. It is now the time in our industry to recognize our leaders. The individuals who have contributed to the growth and emergence of buy here, pay here, have demonstrated successful entrepreneurship, possess high moral character, integrity, and who have made significant contributions to their communities deserve recognition. Today, NABD will recognize two such leaders during our “Hall of Fame” induction ceremonies. Their entrepreneurial success and personal attributes distinguish them as leaders in our industry who deserve this special recognition. Their past contributions should be remembered and acknowledged. We deeply regret that one of these inductees could not be here and is inducted posthumously.... [ Read more... ] 

With 2011 now behind us, it is worthwhile to look back at several significant developments which will likely impact the Buy Here, Pay Here (BHPH) industry for several years in the future. In 2011, Experian Automotive determined that approximately 24,000 BHPH dealers nationally financed nearly 15% of all used vehicle sales. These new statistics are important for two reasons: It represents a very credible estimate of the size and breadth of the BHPH marketplace (well done, Experian!), and These estimates show how significant BHPH has become to used vehicle financing in America. Millions of unbankable consumers depend on the BHPH industry to provide them with the transportation they need to work and live. This segment will continue to grow if not otherwise constrained by adverse regulation. Speaking of regulation, 2011 saw the creation of the Consumer Financial Pr... [ Read more... ] 

With the close of another year, most Buy Here, Pay Here (BHPH) operators will evaluate last year’s performance by comparing their results with the past. Most often, these comparisons consist of identifying the changes between the last two years for the following: number of units sold, gross sales revenues (in dollars), outstanding dollars in their installment portfolio, and net income. Although I acknowledge that these are the typical financial barometers used for measuring BHPH performance, none of these, individually or collectively, tell how prudently the company managed portfolio risk which affects their future performance. For the last eight years, I have performed computerized analysis of BHPH installment portfolios for operators from coast to coast and Canada. These analyses are equivalent to giving each portfolio an “MRI”, and now include more than 900,000... [ Read more... ] 

Skips to Cash Program Helps Dealers Locate, Recover and Liquidate Bad Debt Skips Houston, Texas, February 28, 2011- National Alliance of Buy Here, Pay Here Dealers (NABD), a special interest group organized for the betterment of the automotive industry, today announced a new technology program, Skips to Cash, designed to assist NABD operators nationwide in locating, recovering, and liquidating of bad debt skips. The Skips to Cash program is facilitated by All Technology Recovery (ATR) and utilizes alliances with Digital Recognition Network (DRN), Recovery Database Network (RDN), OPENLANE, and Locater USA.   Through professional recovery agents, including members of American Recovery Association (ARA), the Skips to Cash Program will utilize DRN’s state-of-the-art LPR 2.0 technology to help locate collateral and use professional recovery agents to recover the vehicle. Aft... [ Read more... ] 

2012 Dealer Academy Highlights 

 

The National Alliance of Buy Here Pay Here Dealers (NABD) and Cherokee Automotive Group (CAG), the publishers of Auto Remarketing and SubPrime Auto Finance News will combine forces to launch the BHPH Report for the industry later this month.   This effort will capitalize on the joint strength of NABD and CAG to provide a powerful digital publication and supporting media assets that will serve to benefit operators (franchise and independent), vendors, owners, and executives involved in the BHPH industry. “NABD believes that the BHPH industry wants and needs a publication devoted exclusively to this important segment of the auto industry,” said Ken Shilson, NABD founder. “We look forward to working with Cherokee Automotive Group on this joint Report. We ask BHPH operators and industry product and service providers to help provide quality content and timel... [ Read more... ] 

Merger Creates Succession Plan for NABD and a Combined Mega-Conference for the Used Vehicle Industry  Arlington, Texas (Dec. 20, 2017) --  The National Independent Automobile Dealers Association has acquired the assets and operations of the National Alliance of Buy Here-Pay Here Dealers and will merge NABD’s conference and educational services into those of NIADA. NIADA closed on the acquisition Dec. 14, completing more than two years of review, strategic discussions and due diligence. The merger provides a succession plan for NABD, founded in 1998 by Ken Shilson. “We are thrilled to formally join forces with Ken Shilson, Ingram Walters and the entire NABD team as we move forward together with a long-term NABD succession plan,” NIADA CEO Steve Jordan said. “NABD has provided a strong voice and specialized educational resources to more than 14,000 m... [ Read more... ] 

Merger Creates Succession Plan for NABD and a Combined Mega-Conference for the Used Vehicle Industry  Arlington, Texas (Dec. 20, 2017) --  The National Independent Automobile Dealers Association has acquired the assets and operations of the National Alliance of Buy Here-Pay Here Dealers and will merge NABD’s conference and educational services into those of NIADA. NIADA closed on the acquisition Dec. 14, completing more than two years of review, strategic discussions and due diligence. The merger provides a succession plan for NABD, founded in 1998 by Ken Shilson. “We are thrilled to formally join forces with Ken Shilson, Ingram Walters and the entire NABD team as we move forward together with a long-term NABD succession plan,” NIADA CEO Steve Jordan said. “NABD has provided a strong voice and specialized educational resources to more than 14,000 m... [ Read more... ] 

FOR IMMEDIATE RELEASEContact:Jeff Slaven—Director of Marketingjslaven@jdbyrider.com; 317-249-3118J.D. BYRIDER CHANGES NAME AS PART OF MULTIERED BRAND UPDATE New brand identity to launch June 3 INDIANAPOLIS (June 4, 2019)—J.D. Byrider, America’s largest buy here pay here dealership network, today announced a major rebranding, officially changing its name to Byrider. The rebranding includes ongoing business model updates to reflect the company’s continued growth and commitment to customer service. The company is implementing strategic business changes to enhance the customer experience, including an improved website and an optimized purchase process to provide customers with a broader selection of quality cars. The strategic highlights of the relaunch will include:• A new brand identity to provide a more contemporary look for customers• An updated website to provide... [ Read more... ] 

Warranty OR Service Contract? The answer is YES! You know the old saying “if they cannot drive it, they aren’t paying for it”. I have met and heard of dealers that knew that was the case yet when one of their cars failed the dealer told the customer “you can go get it fixed or leave it here”.  At some point and in a few situations that must have worked for a few dealers. At least the customer had something to drive. Maybe the dealer would help them a little after the customer scraped up the money for parts. I knew a “Service Manager” at a dealership that told customers “don’t worry about that “smell, sound or noise it isn’t a big problem. “Just like your grandpa, your car is getting a little older, it’s normal”. I watched this manager say it over and over…the look on the customer’s faces was sadly priceless. The Service Manager would say “we can take ... [ Read more... ] 

Inside The Numbers: 2018 BHPH Benchmarks / Trends Report   By   Kenneth Shilson, CPA         President, Subprime Analytics                   I recently finished compiling the above referenced subprime auto industry benchmarks / trends report for the 20th consecutive year.  This year, the 2018 Report contains the following: 1)       Financial information and ratio comparisons for 2016 – 2018. 2)       Cost of sales and operating expense comparisons for 2016 – 2018. 3)       NIADA “20 Group” operating comparisons for 2016-2018 4)       Loss metrics for 2016 – 2018, including leasing. 5)      ... [ Read more... ] 

Tasks To Support Your ServiceLet's Talk Shop for BHPH - Pt. 7By Gene Daughtry, BHPH Consultant After setting up 4 dealerships and having involvement in a couple of dozen others I have learned to isolate tasks. When I have written processes, I broke things down into tasks and as the teams developed, I would assign tasks to the correct personnel depending on strengths, office setup, needs based on volume of sales or service. The more techs you have the more help the shop needs. The tasks get larger with more volume and of course that means fewer tasks per person.      For me everything is about customer service first. We have to make a good profit and controlling expenses is integral to that of course. Some folks believe, in the shop, you put new inventory over handling customers you have already sold but I do not agree with that. You need both but when it comes down to p... [ Read more... ] 

The Shop Isn't Just About WrenchesLet's Talk Shop for BHPH - Pt. 6By Gene Daughtry, BHPH Consultant     I mentioned more than once in this series of articles about being able to find information, track labor hours, create records and posting costs to your inventory, well that generally requires software. Seems everything does these days. If you were following my procedures, you would have a DMS (Dealer Management System) that has a shop module. You would separately need a program that can aid in diagnosing vehicles and provide industry standard labor hours. If you are going to monitor your operation you need reports and a process that requires information is properly input to be able to see accurate information.      Since you are hiring human beings to help you in your business, anything you can do to avoid errors will be helpful. No matter how good your tea... [ Read more... ] 

Putting a Shop TogetherLet's Talk Shop for BHPH - Pt. 5  By Gene Daughtry, BHPH Consultant      You’ve decided to build your shop. In our series we have discussed hiring the right manager. Then we went over some basics on hiring technicians. They need a place to work. I have seen open air repairs at dealerships. In most places and most cases that is not going to work. If you want to maintain good technicians and handle all the work in your shop you will need a roof and walls, bay doors, lifts and other equipment that works properly. You have to keep techs cool or warm and dry. The equipment isn’t designed to be outside where humidity, rain, winds, sun will get in the way of consistent work.      Let’s say you are going to have 3 full time commission techs. In my operation that would call for 6 lifts. My manager would also have at least one for hi... [ Read more... ] 

Hiring TechniciansLet's Talk Shop for BHPH - Pt. 4By Gene Daughtry, BHPH Consultant     Hiring is one of the most difficult parts of owning a business. If you think finding good sales people or a good accountant is tough, hire technicians! Nothing is 100% but as a rule technicians are a different group, a bit eccentric (being nice). I have opened 4 different operations in 3 states and maybe I am lucky but I have always had success getting a shop up and running so we could handle all of our recons and customer repairs. I feel that is primarily due to each of the Service Managers (Hiring the Right Manager 3rd article) I would hire the Service Manager first. The pay plan combined with the amount of work helps keep a technician focused. We had just enough techs so they had all the work they could stand every day.      The word “depends” kicks in here. It depe... [ Read more... ] 

The Right Shop ManagerLet's Talk Shop for BHPH - Pt. 3 By Gene Daughtry, BHPH Consultant       In BHPH just like any other automobile retail business, Captain Obvious sez: you are buying and selling vehicles. Whether you sell 10 rigs a month or 200 you have repair issues to deal with. BHPH customers are not always organized or have the means to maintain the vehicles they drive. As a BHPH dealer the vehicles need to function properly or we are going to get them back. In order to balance capital outlay and get having marketable vehicles, we generally are buying higher mileage older vehicles. We do reconditioning on every vehicle purchased, dealers all have different ideas what is needed at this point. Someone still needs to decide what recon needs to be done and who does those repairs. Once the vehicle is sold we as dealers are “married” to the customer... [ Read more... ] 

Keeping Track of the ShopLet's Talk Shop for BHPH - Pt. 2 By Gene Daughtry, BHPH Consultant     Like any part of a business, it is best you have the ability to track the work being done. I believe in a service operation it is paramount. If you do any repairs or reconditioning in your operation it can become an inefficient, bleeding money pit if not monitored and managed.      One thing I suggest and have always done myself is use a repair order for all work performed in the shop or sublet. Every customer interaction, no matter how trivial, should be documented and having a RO (repair order) ability along with a process to insure use is important. Even if you do not physically do repairs in your operation but sublet everything I would still have RO capability at some level to keep track of work done, cost and be able to easily extract the informat... [ Read more... ] 

Lets Talk Shop for BHPHBy Gene Daughtry, BHPH Consultant ,   In BHPH one fact of life is vehicle breakdowns.  Selling cars is easy. With all the vendors available finding vehicles is easier than it has ever been and with the industry transitioning back from Special Finance to Deep Sub Prime (lenders repossessing at a record pace) soon there will be even more vehicles a typical BHPH dealer can use and the prices should reflect the availability once the tax “rush” has ended. As we know our customers are maintenance challenged for various reasons from not being organized, never learned they had to do maintenance (dad and mom didn’t) or have the money. In any case your customers have many vehicle issues to deal with on a regular basis, some real, some not and some self-inflicted. The question is do you let the customer deal with the issue themselves or do yo... [ Read more... ] 

Accounting and Audit Updates   How Will They Impact Dealers?   By Steven Carstens     Smaller dealers generally prepare their financial statements on the income tax basis of accounting so they can see how bad their tax answer is going to be. Larger dealers – especially those with bank reporting requirements – follow GAAP accounting rules issued by the Financial Accounting Standards Board. The FASB has issued several Accounting Standards Updates (ASUs), which might have an impact on dealers’ financial statements over the next few years. While accounting rules change regularly, we have prepared a list of updates we think are particularly impactful to dealers’ financial statements.   ASU 2016-02 LEASES (OPERATING AND CAPITAL) Effective in 2020 for private companies, new lease guidance requires lessees to rec... [ Read more... ] 

7 Million Americans are 3 Months Delinquent on Car Payments! What Is The Answer?   By Kenneth Shilson President, Subprime Analytics   On February 12, The Washington Post featured an article that announced, “A record 7 million Americans are 90 days or more behind on their auto loan payments, the Federal Reserve of New York reported, even more than during the wake of the financial crisis.” The New York Fed also said “that there were over a million more ‘troubled borrowers’ at the end of 2018 than in 2010 when unemployment hit 10% and the auto delinquency rate peaked.” Many of the borrowers who are behind on these bills have low credit scores (i.e., subprime customers) and are under age 30 per the Fed report. Many auto loan borrowers have stronger credit scores but defaults have been high among “subprime” borrowers with credit scores un... [ Read more... ] 

The Golden Opportunity of Tax Season 2019  By Reggie Ponsford, Senior Vice President of Automotive Solutions Sales, Spireon Child Tax Credit, EITC revisions, and more will put more money in the pockets of car buyers. Include these three strategies to prepare your dealership now.   As the US economy continues a steady acceleration in GDP and job growth, more consumers find themselves in stronger financial standing with greater purchasing power. Several new tax laws and a 25 percent tariff hike on imported vehicles could push subprime consumers away from new car options and into your used car dealership.   The Tax Cut & Jobs Act of 2017 includes a more generous Child Tax Credit increase from $1,000 to $2,000 per child under the age of 17, which could lead to refunds of up to $1,400. Earned Income Tax Credit (EITC) was raised by up to $6,431 fo... [ Read more... ] 

Converting a Sales Call to a Customer By Maggie Pugesek, C&M Coaching Handling sales calls may seem like a simple task. You pick up the phone, answer some questions, maybe set an appointment… easy right? Honestly, while we don’t have to overcomplicate things, there is a bit more to it than that. If we want to convert the caller to a customer, we should always follow a process. Simply saying whatever comes to mind will not produce the results you are looking for. Establish Your Goals The first step to having a successful sales call is figuring out exactly what you plan to have accomplished when you hang up. Not only do we want to establish a relationship with the customer, but we want to control the call, obtain their information and hang up with a locked-in appointment time.  Make yourself a check list to ensure you complete these goals in each phone ca... [ Read more... ] 

Make Phone Tag a Thing of the Past . . . By Christopher Leedom CEO, Textmaxx Pro   How many of you reading this article are frustrated by the volume of voice mail—both left and received—during the average workday?  Whether it is for sales, service or collections, your staff leaves dozens if not hundreds of voice mails every day.  It has probably become one of the biggest drains of productivity and labor—but nevertheless necessary—until now.  Do I have you scratching your head a bit?   First, let me issue you a challenge.  Identify one employee in your dealership or finance company that interacts with your customer base on a daily basis—for instance, a salesperson, a collector or a service advisor.  Next, identify twenty customers that you need to communicate with that particular day.  If you are a working with a c... [ Read more... ] 

 Customer Service  It Should Be a Win-Win Goal   By Mark Dubois   The BHPH business provides plenty of opportunities to provide great customer service, in a wide range of ways. Customer service can be as simple as the buying experience at your dealership. Maybe your customers get a great experience after delivery through your service center or a vehicle warranty plan that helps them with vehicle repairs. Many dealers claim their customer service is evident every day through the interaction between staff and customers. Some dealers take customer service to the next level by hosting events like a customer appreciation day. Whether your dealership provides free oil changes or discounted rates to your customers on service and repairs, the focus of all of those efforts is to provide great customer service. In BHPH we have an additio... [ Read more... ] 

What Happened to Facebook in 2018?   Adjusting to the Changes   By Justin Osburn   Facebook made some drastic adjustments to its platform in 2018. From an advertising perspective, Facebook is certainly a different chess board as we move into 2019 from just a year ago – especially for Buy Here-Pay Here dealers. The business page is still necessary, but for entirely new reasons. Facebook made a major algorithm change last summer that heavily diluted posts from business pages and/or profiles that were considered frequently connected to everyday users. In English, that means the organic posts you upload and/or boost appear with significantly less frequency in the feed or “wall” of the everyday users you are attempting to connect with. They just don’t see posts from your business pages as much. That really wasn’t a difficult p... [ Read more... ] 

As another year closes BHPH operators should focus on how to make next year better! The answers will NOT be found in your year-end financial statements or by reviewing annual sales numbers. This article will discuss how every buy here, pay here operator should evaluate their installment portfolio in order to improve their cash flow and profitability as follows: 1.           Identify important indicators that your installment portfolio needs a “tune up”! 2.           Discover proactive ways to improve underwriting by using metrics as your guide. 3.           Maximize year-end tax deductions for bad debt losses and reduce income taxes. 4.           Increase the return (“ROI”) on your business model. 5.          &nbs... [ Read more... ] 

By Kenneth Shilson, CPA        President, Subprime Analytics      The AICPA passed a new credit loss measurement standard which requires implementation starting in 2020 by private companies who carry financial instruments (receivables).  Public companies must implement the standard a year earlier.  The new requirement was issued in Accounting Standards Update 2016 – 13 – Financial Instruments – Credit Losses (Topic 326).  This new standard applies whether the financial instruments (like buy here, pay here contracts) including leases, are either carried on or off the balance sheet.  Under current generally accepted accounting standards (GAAP) credit losses must be recognized when it is probable a loss has been incurred.  The new standard requires credit losses on receivables to also include e... [ Read more... ] 

By Kenneth B. Shilson President and Founder, Subprime Analytics   This is my final article in a five-part series about how the business models used by independent dealers during 2017 differed from those used in subprime auto bond securitizations.  Copies of the previous articles in this series can be downloaded free of charge at www.subanalytics.com.  In those previous articles I explained that the deep subprime deals included in the auto bond securitizations were newer vehicles, with higher sales prices and amounts financed, larger repayments, and most importantly much longer contract terms. These securitizations fueled unprecedented competition in the subprime auto finance business during the last 3 years and caused independent operators who refused to match the aforementioned deal terms to lose market share.  Some of the deep subprime securitize... [ Read more... ] 

By Kenneth Shilson President, Subprime Analytics   In my initial three articles in this five-part series, I mentioned that auto bond securitizations have fueled the high level of subprime auto finance competition during the last 3 years.  I indicated that the business models used in these securitizations differed from those used by the independents that we surveyed during the same period, as follows:   Business Model Comparison 2017 Deep Subprime per Experian 2017 Independent BHPH Benchmarks   Difference   Percent Difference Amount Financed $14,022 $11,951 $2,071 17% Used Loan Term 55 Months 44 Months 11 Months 25% Used Mon... [ Read more... ] 

“Keeping Them Sold” in Subprime Auto Finance – Part 3By Kenneth ShilsonPresident, Subprime AnalyticsIn my initial two articles in this five-part series, I mentioned that auto bond securitizations have fueled the high level of subprime auto finance competition during the last 3 years.  I indicated that the business models used in these securitizations differed from those used by the independents that we surveyed in the benchmarks during the same period, as follows:Business Model Comparison 2017 Deep Subprime per Experian 2017 Independent BHPH Benchmarks Difference PercentDifferenceAmount Financed $14,022 $11,951 $2,071 17%Used Loan Term 55 Months 44 Months 11 Months 25%Used Monthly Payment $394 $390 $4 1%Average Finance Rate 20.3% 20.5% 0.2% 1%  Understanding the differences in underwriting and their impact on collections and recoveries, risk management, and cash flow are... [ Read more... ] 

By Kenneth ShilsonPresident, Subprime Analytics In my initial two articles in this five-part series, I mentioned that auto bond securitizations have fueled the high level of subprime auto finance competition during the last 3 years.  I indicated that the business models used in these securitizations differed from those used by the independents that we surveyed in the benchmarks during the same period, as follows: Business Model Comparison2017 Deep Subprime per Experian2017 Independent BHPH Benchmarks  Difference PercentDifferenceAmount Financed$14,022$11,951$2,07117%Used Loan Term55 Months44 Months11 Months25%Used Monthly Payment$394$390$41%Average Finance Rate20.3%20.5%0.2%1%             Understanding the differences in underwriting and their impact on collections and recoveries, risk manage... [ Read more... ] 

By Kenneth Shilson President, Subprime Analytics   In my first article in this five-part series, I mentioned that auto bond securitizations have fueled the high level of subprime auto finance competition during the last 3 years. I indicated that the business models used in these securitizations differed from those used by the independents that we surveyed during the same period, as follows: Business Model Comparison 2017 Deep Subprime per Experian 2017 Independent BHPH Benchmarks     Difference   Percent Difference Amount Financed $14,022 $11,951 $2,071 17% Used Loan Term 55 Months 44 Months 11 Months 25% Used Monthly Pay... [ Read more... ] 

By Kenneth Shilson President, Subprime Analytics At Subprime Analytics, we measure success in Subprime Auto Finance by “keeping vehicles sold” and subprime finance customers paying over the term of each contract. Some operators measure performance strictly on how many vehicles they sell each month, and not on collection performance metrics like static pool, loss/liquidation, and default rates. I liken this to “flying an airplane without an instrument panel” or buying a vehicle at auction without “looking under the hood” as an analogy.             This will be the first of five articles which will follow weekly on what keeps subprime customers paying and the ways you can increase cash flow and get the capital needed to grow your subprime auto finance portfolio.       ... [ Read more... ] 

CallPass Tech and Xirgo Technologies brings the first LTE-M GPS Device to BHPH and Vehicle FinanceCustomersClearwater, FL, July 12th, 2018---CallPass Tech (CallPass) has released the first production ready LTE-M GPS Tracking device to the Buy Here Pay Here (BHPH) and Vehicle Finance Industry. On Feb 14th, 2018AT&T announced CallPass being the first Location Based Services provider to utilize use AT&T’s LTE-Mnetwork which is built for the Internet of Things (IoT) to track or find financed vehicles.CallPass has been utilizing Xirgo Technologies custom engineered GPS Devices since 2011. Both companies agreed in August of 2017 that designing, building, testing and releasing a CAT-M1 or LTE-M Device for release in 2018 was a priority. Now after rigorous device module and capabilities testing, network integrity testing, and backend application data ingestion and application display test... [ Read more... ] 

By Mark Dubois   As a 20 Groups moderator, consultant and trainer, I keep an ear to the ground on what BHPH dealers nationwide are saying and thinking. Social media marketing has become one of the most talked-about subjects in our 20 groups. Discussions range from simple questions like, “Why is social media marketing critical to my business?” to more complex questions, like, “How do I maximize the results of my social media marketing program?” Those are great questions. The difficulty comes in finding answers. Many dealers still wonder if social media is just a fad. “Social media is not a fad,” said Erik Qualman, author of Socialnomics. “It is a fundamental shift in the way we communicate.” Data from Socialnomics indicates 93 percent of buying decisions are influenced by social media. Many dealers explain they are simply overwhelmed b... [ Read more... ] 

By David Brotherton   When your typical Buy Here-Pay Here dealer got into business, he signed up for a DMS system based, more often than not, on price. Most people don’t really know what to look for the first time they are buying software and it takes some experience to realize what you need. Don’t get me wrong, there are some excellent low-cost solutions available for our industry that have served many dealers well for many years. I’m not suggesting everyone should line up for the most expensive platform with all the bells and whistles. Paying for features you won’t really need for years and for integrations with platforms you might not stick with is a waste of money. Now that you have started reviewing your DMS options, it is important to understand converting existing data and changing platforms will be painful. Conversions have often been... [ Read more... ] 

Buy Here-Pay Here Success From a Financial Perspective By Kenneth Shilson, CPA     Success in Buy Here-Pay Here is frequently measured by how many vehicles a dealer sells each year. That’s particularly the case as dealers review their year-end results. But while sales are important, let’s focus on other areas important to BHPH success. “Keeping them sold” is important to long-term success and requires good underwriting and collections, efficient systems and processes, a cash-efficient business model, financial flexibility, a compliance management system and portfolio metrics. A careful look at the most successful BHPH operators reveals they do the following: ·                     Manage credit risk successfully. ·  &n... [ Read more... ] 

By Tim Byrd     Tax season is upon us. You have been working diligently for months to gather the right inventory to make this the best tax season ever. Let me ask you this: Do you have your own insurance company? You know, a dealer-owned reinsurance company? Maybe you have not heard of reinsurance. Or maybe you have and it is just out of your wheelhouse. You don't understand it and you’re a little afraid of something outside of your purview. You are a Buy Here-Pay Here dealer. I am sure you have folks all the time trying to sell you the perfect widget to solve all your problems. The fact is, I have been in the car business for nearly 30 years and can say with confidence that nothing related to the car business has a greater impact and greater return on investment than a dealer-owned reinsurance company. Follow my logic for a moment. The lif... [ Read more... ] 

 Arlington, Texas (Feb. 21, 2018) – The National Independent Automobile Dealers Association has contracted with Kenneth Shilson and Subprime Analytics to provide analytical services for the association’s 16,000 members. Subprime Analytics (www.subanalytics.com), a Houston-based company that analyzes subprime automotive portfolio performance using data-mining technology, has analyzed more than $20 billion in subprime auto installment contracts over the past 10 years. It provides nationally recognized automotive benchmarks that measure industry performance and trends. “I am pleased to prepare and issue our used car benchmarks and other analytical reports to assist NIADA in its representation of the used car industry,” said Shilson, a CPA and president and founder of Subprime Analytics. “At Subprime Analytics, we intend to develop data and analytical info... [ Read more... ] 

BHPH Advocate   1099-C   Definition and Requirements   By Shaun Petersen     With all the discussion surrounding tax reform legislation, the one thing we know for certain is “the tax man cometh.” Usually, we reference that quotation with the day of reckoning that comes each April 15. In this industry, though, we know the tax man shows up at many different times and in many different ways. Recently, the Internal Revenue Service has been auditing dealerships for compliance with Form 8300 reporting requirements and auditing related finance companies for compliance with the issuance of a 1099-C. A dealer in the southern U.S. reported an IRS auditor began looking at the RFC’s tax returns from 2009 and noticed the RFC failed to send a 1099-C to customers whose vehicles were repossessed and the deficiency was not pursue... [ Read more... ] 

FOR IMMEDIATE RELEASE      CONTACT: Ken ShilsonDecember 7, 2017 832-767-4759 ken@kenshilson.com Receivables Management Association Launches Program to Match Buy Here, Pay Here Dealers with Certified Debt Buyers December 7, 2017 (Sacramento, CA) – Receivables Management Association International (RMA) has launched a program to better serve buy here, pay here dealers seeking liquidity. Auto dealers often explore remedies for distressed or defaulted accounts; selling accounts to one or more debt buyers has proven to be a preferred option for many dealers. In the past, RMA has provided sellers a list of its Certified debt buyers, and while this option is still available, it may be less efficient for sellers.RMA has launched a new program in order to streamline this process between originating creditors and... [ Read more... ] 

By Doug Debolt, "BHPH  Marketplace"  Two months ago, buy here, pay here car dealers from across the country were preparing to descend on the Wynn in Las Vegas for the annual conference of the National Alliance of Buy Here, Pay Here Dealers. Now, those same dealers are hearing about another national NABD conference in Orlando this October. The obvious question might be, “If I went to Las Vegas, why should I consider going to Orlando?” According to Ken Shilson, president of the NABD, that’s not the right question. Dealers, he says, should be asking themselves if they can afford to not be in Orlando, especially given the competition and profitability in the industry. Shilson says that the most profitable sector of the auto industry right now is in the buy here, pay here world. “Over the last couple of years we’ve seen Wall Street flood the market with a lot of c... [ Read more... ] 

By Nick ZulovichSenior EditorLAS VEGAS - Service and technology providers are coming to this year’s annual gathering hosted by the National Alliance of Buy-Here, Pay-Here Dealers armed with products that Ken Shilson insisted are brand new and can help operators of all sizes immediately.Shilson highlighted more than a dozen different companies are ready to launch a new solution during the 19th annual National Conference. The NABD president explained why these technology companies are coming to the Wynn/Encore in Las Vegas on May 23 to 25 with new tools ready for deployment.“The profitability in the auto business in general is being squeezed, not just in buy-here, pay-here but in all segments,” Shilson said. “They’re having to pay more to get a better vehicle because of the competition. The cost of funds is going up. The cost of compliance is going up. Those cost increases... [ Read more... ] 

  Contact: Kim Gay – Director, Communications 866.231.0545 ext. 1022, Mobile: 850.363.2287 kim.gay@lscu.coop www.twitter.com/My_LEVERAGE     Partnership brings together LEVERAGE and high-tech GPS tracking and automated collection technology solutions   BIRMINGHAM, AL/TALLAHASSEE, FL, Jan. 6, 2017 – LEVERAGE, the service corporation of the League of Southeastern Credit Unions & Affiliates (LSCU), which equips credit union partners with products and services to fulfill day-to-day needs, announced today that it has named PassTime GPS as its preferred GPS provider. PassTime is the industry leader in high-tech GPS tracking and automated collection technology solutions for auto financing.   This technology will provide credit unions with a greater ability to grow more members with added protection, improve member ... [ Read more... ] 

By Nick Zulovich Senior Editor HOUSTON -  It was just a little more than four months ago that the National Alliance of Buy-Here, Pay-Here Dealers hosted its annual convention in Las Vegas. However, Ken Shilson emphasized that two significant developments have happened since NABD gathered ahead of Memorial Day weekend, making its next BHPH Conference during the first days of November all the more important for operators to attend. The conference, whose theme is “Best Practices to Succeed Now,” is designed for both new and experienced operators. The event that runs Nov. 1-3 at the Rosen Shingle Creek Resort in Orlando, Fla., will take a deep look at what Shilson called one of the “most significant accounting changes buy-here, pay-here operators will ever encounter.” That change is the American Institute of Certified Public Accountants passing new cre... [ Read more... ] 

  On Wednesday, November 2 at 9:15 a.m at the NABD Conference in Orlando, Bill Neylan CEO/President of Tax Refund Services Tax Max, will make a major announcement about this upcoming tax season that will affect every BHPH dealership in the country.  During Mr. Neylan’s breakout session titled, “Increasing Your Tax Refund Business – Make Tax Season Great Again”, he will unveil news that will be a historic and dramatic change that affects taxpayers, BHPH dealers and the IRS.  All dealers are being urged to attend as this will greatly impact every BHPH dealer in the industry.  Don’t let this tax season be a financial disaster.  Attend the NABD and Mr. Neylan’s session to be the first to hear the news, in addition to all the answers and solutions about what to do for this tax season which is already under way.      ... [ Read more... ] 

For Immediate Release LITTLETON, CO – September 20, 2016 - PassTime, an industry leader in GPS Tracking Solutions, announced today a strategic partnership with Customized Dealer Financial Solutions LLC (CDFS), which provides underwriting predictive modeling and analytics to BHPH dealerships to help reduce their repossessions and improve their profitability and cash flow. The partnership will focus on cross marketing and promotion to benefits both firms’ current and potential customers. PassTime, which has been in business for nearly 25 years offers wireless GPS telematics products that are available for multiple sectors of the automotive industry including new and used auto dealers, auto finance companies, auto leasing companies, insurance companies and fleet transportation providers.  CDFS offers customers underwriting predictive modeling (UPM) through ... [ Read more... ] 

LITTLETON, Colorado—June 9, 2016—PassTime®, a leading provider of GPS-based technologies and Verifacto, a leading cloud powered risk management system for independent car dealers, BHPH and auto finance companies announced today the companies have completed a software integration project. Customers utilizing both Verifacto software and PassTime GPS solutions will now be able to perform a variety of device management functions directly within Verifacto as well as utilizing custom insurance status features. “Verifacto has built an innovative product solution that is unique to this market.  Adding them as an integrated software partner will be a great benefit to our customers,” said Jerry Morgan, EVP of development for PassTime.  PassTime’s Buy-Here-Pay-Here and finance company customers have been using its GPS and automated collection technology soluti... [ Read more... ] 

HOUSTON, TEXAS - The National Alliance of Buy Here, Pay Here Dealers (NABD) today announced that it has finalized a new Benchmarks and Trends Report containing information about subprime and deep subprime auto finance performance for the year 2015.                 Ken Shilson, CPA, President and Founder of NABD, stated, “This report is the most comprehensive look at the subprime auto finance market we have ever done! I thank NCM, SGC Certified Public Accountants, and Subprime Analytics who contributed financial and operating data for the development of the report. This is the eighteenth (18th) consecutive year we have compiled and issued a report containing financial, operating, and loss metric information which can be used by operators, capital providers, investors and others to evaluate performance ... [ Read more... ] 

 

Equifax is excited to host an event for auto dealers in Las Vegas, NV just prior to this year's NABD Annual Conference. The event will take place Tuesday morning from 9-12. The forum will be an interactive discussion on today's subprime auto finance marketplace. Discussions will include topics like: evaluating customer risk, reporting customer credit and more! Participants will discuss risk mitigation techniques and best practices, along with ways to identify the best subprime customers and to report consumer credit properly. Space is very limited, so click on the link below if you are interested in participating: CLICK HERE TO EXPRESS INTEREST   

For Immediate Release LITTLETON, CO – March 2, 2016- PassTime, a leading provider of GPS and Payment Assurance Technology solutions, is pleased to announce that the United States Patent and Trademark Office invalidated the entirety of a patent owned by LunarEye and which was the subject of a patent lawsuit claiming infringement by certain PassTime products. The patent, 6,484,035, had claimed an apparatus and method for triggerable location reporting and listed Alvin C. Allen, Jr. (a.k.a. Chuck Allen) as the alleged inventor.   In its opinion of February 2, 2016, a panel of three judges of the Patent Trial and Appeal Board for the United States Patent and Trademark Office ruled that PassTime “has shown by a preponderance of the evidence that claims 1–24 of the ’035 patent are unpatentable” and entered an order that “claims 1–24 of U.S. Patent No... [ Read more... ] 

December 1, 2015 By Chip WileyTax Max / Tax Refund Services   After 4 years on the shelf, the banking industry has revived the Tax Refund Advance for 2016.  This means that much needed funds are expected to be in the hands of consumers in mid-January.  Many can expect up to $750 in 24 hours or less.  Prior to 2012, customers became accustomed to 24 hour refund loans.  The old RAL (Refund Anticipation Loan) was greatly frowned upon by the current administration in Washington.  Consumer protection advocates argued that the fees were too high and the APR was unacceptable.  The latest reincarnation has put all of these concerns to rest.  This is a win-win for both the dealership and the customer.  Come January, many of the new Tax Refund Advance products that are being proposed will come with zero APR and zero applicatio... [ Read more... ] 

Tuesday, Nov. 10, 2015, 04:24 PM UPDATED 4:29 PMBy BHPH Report StaffHOUSTON - The National Alliance of Buy-Here, Pay-Here Dealers gathered feedback from nine attendees who came to its East Coast Conference last week in Orlando, Fla., that focused on best practices and compliance.Perhaps one comment from an operator in Indiana summarized what NABD looks to accomplish with this latest event that “featured the greatest collection of legal talent in the 18-year history of NABD,” according to founder and president Ken Shilson.Attorneys Dave Bafumo, Trish Cacciola, Susan Chylik, Allen Denson, Mark Edelman, Tom Hudson, Eric Johnson, Terry O’Loughlin and Shaun Peterson explained and discussed the current legal and regulatory issues with attendees that impact the BHPH industry today.“These legal experts really prepared attendees for all the important compliance challenges ahead,”... [ Read more... ] 

October 26, 2015 – Today NABD President and Founder Ken Shilson announced that he will join other industry leaders in meetings with the FTC, CFPB, and members of congress at the NIADA Leadership Conference in Washington, D.C. this week.  “I am proud to represent NABD in the BHPH industry at these meetings which will provide insights into the regulatory challenges ahead,” Shilson said. Several of these leaders will also participate in the NABD East Coast BHPH Conference in Orlando on November 3-5, where updates will be provided along with cost effective ways to meet these challenges during a Compliance University Track featuring prominent attorneys and industry experts. “NABD understand the operating and regulatory challenges ahead and our Orlando Conference is designed to help operators more successfully solve these challenges next year,” Shilson explained.&... [ Read more... ] 

OCTOBER 23, 2015  ? Today Houston-based Subprime Analytics, which provides computerized portfolio analysis and metrics used to evaluate subprime auto finance underwriting performance and practices, announced a strategic alliance with Vincentric, LLC (“Vincentric”). Vincentric provides data, knowledge, and insight to the automotive industry by identifying and applying the different aspects of automotive ownership costs using its proprietary “Dynamic Cost to Own” database.         Ken Shilson, President of Subprime Analytics and Founder of the National Alliance of Buy Here Pay Here Dealers (NABD) indicated today that, “Our analytical services clients can now determine the best vehicle for each customer for the entire life of a buy here, pay here (BHPH) installment contract. In the highly competitive environment of today, it is vi... [ Read more... ] 

LITTLETON, Colorado— October 2, 2015—PassTime® announced today that TRAX 4 – the fourth version of its popular GPS tracking system – has been released.  TRAX 4 boasts an all new design and a smaller form factor.  TRAX was first introduced in late 2010 as an easy to use GPS tracking solution.  Now in its fourth version, the platform continues to be a widely successful piece of PassTime’s product offering.  “PassTime continually works to bring our customers new and innovative products. TRAX 4 is an update to an already great product-with a smaller size and some new features.  We think our customers are really going to like it,” said Stan Schwarz, founder and CEO of PassTime. PassTime, which has been in business for over twenty years, manufactures and sells GPS devices used for subprime automotive lending, theft-recovery, and vehicle ... [ Read more... ] 

NEW YORK, August 13, 2015 -- Inc. magazine placed PassTime on its 34th annual Inc. 5000, an exclusive ranking of the nation's fastest-growing private companies. The list represents the most comprehensive look at the most important segment of the economy—America’s independent entrepreneurs. Companies such as Yelp, Pandora, Timberland, Dell, Domino’s Pizza, LinkedIn, Zillow, and many other well-known names gained early exposure as members of the Inc. 5000.   “I would like to thank Inc. for the recognition of PassTime. It's a tribute to the hard work and dedication of the executives and staff who work at PassTime,” stated Stan Schwarz, CEO/Founder of PassTime.   The 2015 Inc. 5000, unveiled online at Inc.com and with the top 500 companies featured in the September issue of Inc. (available on newsstands August 18 to September 22) is the most competiti... [ Read more... ] 

Las Vegas (June 27, 2015) --  Longtime Black Book senior vice president and editorial director Ricky Beggs and Ken Shilson, founder and president of the National Alliance of Buy Here-Pay Here Dealers, have been named the newest members of the National Independent Automobile Dealers Association's prestigious Ring of Honor.   Beggs and Shilson became the 25th and 26th auto industry leaders to be inducted into the Ring of Honor, NIADA's highest award for non-dealers. The awards were announced during Wednesday's National Leadership Awards Banquet at Caesars Palace in Las Vegas, part of the 69th annual NIADA Convention and Expo.   NIADA's Ring of Honor recognizes allied industry leaders who have contributed to the professionalism and growth of the automobile industry through outstanding performance and leadership.   Beggs served as the voice ... [ Read more... ] 

July 2015 By L. Jean Noonan* On June 10, the Consumer Financial Protection Bureau published its final "larger participant" rule, which allows the agency to supervise larger nonbank auto finance companies for the first time. At the same time, the CFPB announced that it updated its Supervisory and Examination Manual to provide guidance on how the Bureau will monitor the bank and nonbank auto finance companies it supervises. Examiners will use the new Automobile Finance Examination Procedures to assess potential risks to consumers and determine if auto finance companies are complying with requirements of federal consumer financial laws. Because these Procedures will be the road map for examinations of auto creditors, it is critically important that the Procedures accurately state an auto creditor's legal obligations. Unfortunately, the Procedures fall short in several way... [ Read more... ] 

 

Monday, Jun. 22, 2015, 10:11 AM UPDATED 10:18 AMBy Nick ZulovichEditor ATLANTA - With new survey reports showing independent dealers are fearing a significant decline in customer traffic, Equifax is offering new tools for members of the National Independent Automotive Dealership Association and National Alliance of Buy-Here, Pay-Here Dealers to create what company executives are calling a “transparent environment” for customers with checkered credit backgrounds.BHPH dealers who are NIADA or NABD members can report their consumer auto loans and payments to Equifax without having to pass traditional barriers such as holding a certain number of accounts. Previously, operators needed to have at least 500 active accounts to send this information.“That’s a really big deal because we’re making it easier for the smaller dealers now,” said Angelica Jeffreys, vice president... [ Read more... ] 

 

            CARMEL, Ind. - NextGear Capital, Inc., the largest inventory finance company in North America, recently announced that it has added Kelley Blue Book® Values to its myNextGear web and mobile applications. As a result of this integration between the two Cox Automotive business units, NextGear Capital customers can now receive current market-reflective values at no additional cost for new and used vehicles "By continually adapting the way we put information in front of our customers, we can offer them greater flexibility in how they do business," said Bryan C. Everly, chief technology officer with NextGear Capital. "We are constantly challenging ourselves to make our product better, and that includes providing cross-platform functionality with other Cox Automotive solutions." The ... [ Read more... ] 

For car guys and gals, insurance is a lot like compliance; we hate to deal with it, but we know we have to. Those who have been operating for a number of years have a pretty good idea of what they need to look for in a garage policy and generally shop their coverage annually. For those that are new to the business or haven’t dealt with the insurance side of things much before, this can be a very daunting task. Every state and every dealer are going to have requirements specific to them based on state law and the dealer’s tolerance for risk. This article is meant to give you a basic idea of what to look for in a policy. ·                  Liability/Auto — This generally deals with test driving or when your covered employees are driving your vehicles. This covers medical ... [ Read more... ] 

By BHPH Report Staff   HOUSTON — The National Alliance of Buy-Here, Pay-Here Dealers is gearing up for its annual signature gathering, May 19-21, at the luxurious Wynn Resort in Las Vegas. The 17th annual BHPH Conference has new sessions and what NABD is calling the largest exhibit hall at an industry event.   NABD structured the event to be designed for both new and experienced operators who want to be more successful in the competitive subprime auto finance market of today. The conference theme is “The Very Best of Buy Here Pay Here,” and the conference features many of the nation’s most successful operators and industry experts.   The three-day event begins on May 19 at the Wynn in Las Vegas.   NABD founder and conference chairman Ken Shilson gave a rundown of what’s new for this year’s conference, including:   ... [ Read more... ] 

  Lumberton, North Carolina- Rod A. Heasley, a 37 year auto Industry veteran announced the formation of KISS Concepts Group, a master agency serving independent agents of the automotive and prime and sub-prime finance industry throughout the United States. Corporate headquarters are located in North Carolina with the operations office in Fort Worth, Texas. (12) Twelve affiliate offices have been established in Alabama, California, Florida, Georgia, Kentucky, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina and Virginia.  KISS (short for “Keep It Simple Successfully”) offers new and unique programs in the automotive, subprime and prime finance industries as well as auto sales training and dealership consulting services nationally, including BHPH. “ KISS Concepts Group is the master agency nationally for new and excit... [ Read more... ] 

2014 BUY HERE, PAY HERE YEAR-END REVIEW & A LOOK AHEAD!                 The National Alliance of Buy Here, Pay Here Dealers (NABD), with the help of SGC Certified Public Accountants (SGC), annually prepares buy here, pay here (BHPH) financial benchmarks from a database of their clients nationwide. These financial benchmarks are a composite of the “best performing” operators and are not an average of their entire client base. Since 2006, the NABD benchmarks have also included operating information on sales, collections and recoveries, and inventory management, developed and supplied by NCM® Associates “Twenty Groups” and based upon a composite of all of their BHPH Group members. The attached NABD benchmarks also include portfolio performance metrics compiled electronically by Subprime Analyt... [ Read more... ] 

I’ll be blunt; hiring candidates from a newspaper ad is not the most effective way of finding the type of talent that can be molded into a productive salesperson. However, there is a time and place for the newspaper or Craigslist ad, and in this article, we are going to discuss how to make your ad as effective as possible.Watch the video – Click here!First, we should set the correct expectations. It’s highly unlikely you are going to find a seasoned, successful salesperson through these types of ads. Salespeople that are already trained and productive are likely making a significantly better income than what the average BHPH dealer is going to be willing to pay them.So, we are really looking for people that have the right temperament, work ethic, and confidence to be receptive to our training program (because we are going to train them correctly) and to fit in well with the cultu... [ Read more... ] 

LITTLETON, COLORADO, USA — March 12, 2015—PassTime®, a leading provider of GPS-based technology solutions and The Car Finance Company, Europe’s leading alternative finance lender, announced today an exclusive agreement between the two companies that will bring 70,000 payment assurance and telematics devices to the United Kingdom.  The deal will build upon an already successful relationship between PassTime and The Car Finance Company, offering solutions and distribution in the United Kingdom. "PassTime has been supplying Payment Assurance and GPS devices to The Car Finance Company since 2009 and it is been a real pleasure to work with a company that recognizes the quality and features of the products that PassTime designs and distributes worldwide. We are looking forward to supporting The Car Finance Company's continued growth in the UK markets and we also hav... [ Read more... ] 

  RECOVERY INDUSTRY STANDARDS CHECKLIST   o Current copy of all required and applicable licenses             oBusiness License (Repossession Agency)             o City and State Department of Transportation Towing License Verify with the issuing agencies to verify the licenses are valid and in good standing   o Industry Standard Insurance:             o 1 Million General Liability / 3 Million Aggregate             o 1 Million Auto Liability/scheduled Hired & Non-owned coverage             o Adequate coverage to protect your interests for Direct Primary, Gara... [ Read more... ] 

GRAPEVINE, Texas – defi SOLUTIONS, auto lending’s leading loan origination software company, is proud to introduce the ESSENTIAL loan originations system specially designed for lenders and Buy Here Pay Here dealers seeking an affordable, simplified and automated Loan Origination process.  ESSENTIAL offers a pre-configured solution with the fastest implementation time possible.   As a lender’s needs evolve, ESSENTIAL customers can easily add on functionality available by extending into the full defi LOS.  However, the ESSENTIAL solution meets all the typical application processing, bureau review, decisioning and verification/funding processes a growing lender needs.   “defi’s ESSENTIAL LOS was the right fit for us,” says David Schneider, SVP for Local Finance Company.  “We have served dealers in South Florida for over 15... [ Read more... ] 

LITTLETON, CO – November 6, 2014 - A Philadelphia woman, whose abduction was caught on tape, has been rescued - and her suspected kidnapper arrested, in part with help from GPS of a PassTime device.  Carlesha Freeland-Gaither, a 22 year-old woman who was abducted on Sunday night in Philadelphia, was rescued from the car of her alleged kidnapper, 37-year-old Delvin Barnes, in a Jessup, Maryland, parking lot Wednesday afternoon, officials said.  The suspect’s vehicle had been located by law enforcement using the GPS functionality of a PassTime device installed on the car. Law enforcement narrowed in on the suspect after getting a tip from the ATF Office in Richmond, Virginia which was investigating Barnes. After seeing surveillance photos, the ATF believed the man may have been the suspect, said Philadelphia detectives. After using the PassTime GPS devic... [ Read more... ] 

By Nick Zulovich, Editor BHPH Report   LAS VEGAS – Maybe you heard it spoken in a 20 group meeting or around the lunch table at the auction. There’s one buy-here, pay-here operator telling another, “I’m not worried about the CFPB. I’m just a small guy with 20 cars on my lot and less than 1,000 active accounts. I’m sure those big guys will go chase the big fish.” For BHPH dealers who think that way, Rick Hackett offered a strong warning. The Consumer Financial Protection Bureau is intensifying its regulatory aim at this industry. And Hackett should know; he spent about two years at the CFPB before officially joining Hudson Cook in March. “The bureau focuses on the risk of a product to consumers,” Hackett said during a panel discussion during the National Conference hosted by the National Alliance of Buy-Here, Pay-Here Dealers recently in Las Ve... [ Read more... ] 

Hall of Fame Inductee Codding Describes Impact of BHPH  

Tuesday September 30, 2014 - PassTime has been recently contacted by various media outlets regarding its products as the result of pending litigation against one of PassTime’s valued customers. Our company policies prevent us from commenting on pending litigation involving our product.  With that said,  our device plays a vital role in allowing those who might not otherwise qualify for an auto credit to get financed.  We are proud that our technology has given consumers greater access to financing and enhanced transportation options.    PassTime has been in business nearly two decades and has well over one million devices on the road. During that time, thousands of car buyers have personally called the PassTime Customer service line to thank us for helping them get car financing for a better vehicle at lower rates that they otherwise would have... [ Read more... ] 

By Kenneth Shilson, CPA President/Founder Subprime Analytics National Alliance of Buy Here, Pay Here Dealers (NABD) I frequently receive phone calls from buy here, pay here (BHPH) operators who complain that the deep subprime auto market has changed. Reasons cited are: 1.) more competition, 2.) customers are more selective about the vehicles they want to buy, 3.) operating and vehicle acquisition costs have increased, 4.) there are more regulatory challenges, and 5.) customers are not paying off contracts like before. They also indicate that old operating practices do not seem to "solve" the aforementioned challenges. In this article, I will discuss each of these challenges and share some insights into how the most successful operators are addressing them! Competition in the deep subprime has definitely increased and is coming from subprime finance companies fueled by low-cos... [ Read more... ] 

Four-day event will feature A-list industry experts and breakthrough technology training for subprime auto finance companies, independent retail dealers and buy-here-pay-here professionals.   Innovate, a national convention for subprime auto finance companies, independent retail dealers and buy-here-pay-here professionals, has announced the details of its 7th annual conference.   The event will take place Sept. 21 through Sept. 24 at the Gaylord Texan Resort & Convention Center in Grapevine, Texas. Innovate will be hosted by AutoStar Solutions, Inc., a leading provider of enterprise-level software to subprime auto lenders, as well as independent retail and buy-here-pay-here dealers.   Featured keynotes include:   Rick Hackett, partner at Hudson Cook, LLP, and former assistant director at the Consumer Financial Protection ... [ Read more... ] 

PassTime Elite Pro Honored for Excellent Innovation   LITTLETON, CO- August 5, 2014 — PassTime, a leader in GPS asset tracking solutions, announced today that its Elite Pro device has received a 2014 M2M Evolution Asset Tracking Award from M2M Evolution Magazine, the leading publication covering the machine to machine movement.   This win for PassTime’s Elite Pro, which offers customers the ultimate combination of GPS functionality and Automated Collection Technology, follows recognition earlier this year when the Elite Pro was award Product of the Year. Elite Pro comes completely customizable with Service Packages that provide the ability to perform manual and automatic payment management, asset tracking, and recovery functionality.  PassTime’s proprietary ACT system is unmatched in the industry for automatically helping remind consumers ... [ Read more... ] 

LITTLETON, Colorado—July 22, 2014—PassTime®, a leading provider of GPS-based technologies and SendMeAFriend LLC, a premier customer referral program announced today that the companies have entered into a strategic partnership.  Under the partnership, customers will have access to PassTime’s new 3G device solution – the Elite 3 - as well as all of its GPS tracking and Automated Collection Technology solutions as well as the streamlined Send Me a Friend referral program which allows dealerships to sign up just about anyone for a referral program, compensating them if a vehicle is purchased.  The Elite 3 builds upon the foundation of the Elite line which PassTime customers have been using to enhance collection processes and reduce delinquencies and repossessions through its unique Automated Collection Technology (ACT).  PassTime, which has been in bu... [ Read more... ] 

The importance of having an organized, educated compliance officer to protect a dealership’s interests – and how to train one. By: Terrence J. O’Loughlin With apologies to Eugene O’Neil and his play, The Iceman Cometh, the need for every business organization, including dealerships, to have a compliance officer is a simple business fact. Earlier this year, the Wall Street Journal featured an article that flatly stated that compliance officers are the fastest growing occupation in American business. The reason is simply that American business continues to be more regulated by the year. Failure to observe these regulations has cost many enterprises substantial sums of money in damages and fines. It has already been established that operating a car dealership is one of the most regulated industries in the U.S. The cost of federal compli... [ Read more... ] 

Every year in the United States, more than a million vehicles are reported stolen. The positive news is that this number has been on the decline in recent years; the bad news is that, while the number of stolen cars and trucks has diminished, so has the rate of stolen vehicle recovery. Many motorists, auto dealers, and fleet vehicle owners simply resign themselves to the fact that, if a car or truck goes missing, there is often not very much that law enforcement can do to recover the vehicle, despite their best efforts. With that said, there are plenty of ways for vehicle owners to ensure that, should their car or truck go missing, the chances of recovery are optimal. One of the best options is to engage a GPS tracking/asset recovery tool, such as the various services in the ITURAN lineup. ITURAN provides asset recovery options for dealers and everyday drivers—and the company&r... [ Read more... ] 

CHARLOTTE, NC (WBTV) - Federal and state officials filed lawsuits on Monday against two Charlotte used car dealerships and their owner allegedly target consumers with overpriced vehicles and predatory car loans based on their race. The U.S. Department of Justice, the U.S. Attorney's Office for the Western District of North Carolina and the North Carolina Department of Justice filed a lawsuit today alleging that defendants Auto Fare Inc., Southeastern Auto Corp. and Zudhi A. Saadeh—the owners and operators of two "buy here, pay here" used-car dealerships in Charlotte violated the federal Equal Credit Opportunity Act by intentionally targeting African-American customers for the extension and servicing of installment sale contracts on unfair and predatory terms. The State of North Carolina also alleges that the defendants' actions violated the state's Unf... [ Read more... ] 

LITTLETON, CO – December 12, 2013 - PassTime, an industry pioneer and leader in telematics and Automated Collection Technology solutions, announced today that it has launched a fleet division and has selected Geotab’s fleet management technology as the major foundation of its solution portfolio.  The new fleet division, PassTime Fleet Finance and Telematics, complements PassTime’s superior quality, reliability and customer support model that has made the company an industry leader in the automotive GPS tracking industry for more than twenty years.  The division will be led by Peter Fowler, who, previous to joining PassTime, had successfully launched what turned into the market leading US M2M business of Siemens.  In addition, PassTime has brought on Harald Fritz who was formerly at Web-Tech Wireless, where during their growth years he played a vit... [ Read more... ] 

By Nick Zulovich, Editor September 23, 2013   CHICAGO — A new TransUnion study found consumers are still more likely to pay their auto loans ahead of their mortgages and credit cards. But what if consumers started to waver on keeping up with their vehicle notes and delinquencies began to rise above their current near-low levels? One of the co-authors of the study told SubPrime Auto Finance News about how that trend might not be such a bad thing for the health of the vehicle financing industry. "I think it will be reasonable to think that delinquencies will start to go up, and that's not necessarily a bad thing," said Steve Chaouki, co-author of the study and group vice president in TransUnion's financial services business unit. "Really low delinquencies can mean the market is tighter than it could be," Chaouki continued. "... [ Read more... ] 

Top industry speakers on sales training, retail finance, buy/lease here, pay here regulartory compliance, technology and more for independent automobile dealers. Harrisburg, PA (PRWEB) September 03, 2013 --Today, the Pennsylvania Independent Automobile Dealers Association (PIADA), on behalf of itself and participating State Independent Automobile Dealer Associations from the States of New York, New Jersey, Maryland and Delaware (NYIADA, NJIADA, MIADA/DIADA), released details for the Mid-Atlantic Regional Independent Automobile Dealer Associations (MARIADA) Conference to be held September 28-30, 2013 at Caesars Atlantic City, New Jersey. “The MARIADA Conference is the don’t-miss event for automobile dealers and vendors in the Mid-Atlantic region, but across the country as well,” explained Tom Brandis, President of PIADA. “From the two days of sessions host... [ Read more... ] 

By Nick Zulovich, Editor September 09, 2013 HOUSTON — It won't be long before buy-here, pay-here dealerships begin sales campaigns in hopes of turning metal based on potential buyers' tax refunds to be cashed in early next year. However, Ken Shilson warned of a snag those potential buyers might have already encountered if BHPH stores followed through with paperwork mandated by the Internal Revenue Service. The founder of the National Alliance of Buy-Here, Pay-Here Dealers explained the situation involving Form 1099-C when Shilson was part of the organization's BHPH Boot Camp last month in Monroe, N.C. "When you write off an account as a bad debt, the IRS is saying that's forgiveness of income so the amount of the deficiency that you wrote off should be income to the recipient. So you're supposed to issue a 1099-C and they're supposed to ... [ Read more... ] 

  NEW ORLEANS — NABD is coming to the Big Easy. The National Alliance of Buy-Here, Pay-Here Dealers is having its first major event in New Orleans, and organizers of this year's East Coast BHPH Conference highlighted that early bird discounts are available through Oct. 4. Rates through that date are $495 for a single attendee or $890 for two operators. After the point, the single-attendee fee rises by $300 while the cost for two people jumps by $500. Meanwhile, NABD pointed out that room rates for the conference location — the Hyatt Regency New Orleans Superdome — are $169 per night while supplies last. NABD's East Coast Conference takes place from Nov. 3 through 5. The agenda includes a wide array of training opportunities and discussions about best practices focused on topics ranging from underwriting and collections to compliance,... [ Read more... ] 

Fort Worth, TX – August 1, 2013– AutoStar Solutions, a provider of software technology to the independent auto industry, has announced their 6th annual Innovate conference September 22-25th at the Omni hotel in Fort Worth, Texas. Since 2008, AutoStar has hosted the Innovate conference as a way to train independent auto dealers in practical techniques and prepare them for the unique challenges of the BHPH industry. “At last year’s conference, our goal was to intensify the product training for our users and help attendees gain a better understanding of the compliance issues that were affecting the industry,” said Allen Dobbins, President and CEO of AutoStar Solutions. “This year, we’re expanding the scope of our industry-focused classes in the same way that we improved our technology training last year. As part of this initiative, we’ve r... [ Read more... ] 

SAN DIEGO, CALIFORNIA, July 30, 2013 – LHPH, LLC, a provider of services to the lease here pay here and buy here pay here industry, announced an exclusive relationship with Advantage Funding to provide financing for select BHPH and LHPH dealers.    “The largest single hurdle for dealers looking to enter into the LHPH space is access to capital,” stated Terry Bowdler, Founder and CEO of LHPH, LLC.  “We have now removed that hurdle for many successful dealers across the country,” he added.   LHPH, LLC and Advantage Funding worked together for over a year developing a dealer finance model that is profitable and easy for dealers to use.  The finance structure which works for both subprime loans and leases enables dealers to fund the cost of the vehicle plus a small mark up at below market interest rates.  Since it is... [ Read more... ] 

LITTLETON, CO – July 15, 2013 - PassTime, an industry leader in GPS tracking and Automated Collection Technology products, announced today that it has added a SOS feature to its Elite and PassTime GPS product platforms as part of the device’s tamper detection system.  PT SOS feature is a powerful, new tamper detection which will send notification and location information in the event that the device is removed from a vehicle; and it does it without the need for a battery.  One issue that has always concerned the industry is device tampering.  Backup batteries emerged as a solution, but have been found to be unreliable and often unable to withstanding temperature and environmental factors over the life of the device.  PassTime, through an innovative technology has achieved the ability to offer its PT SOS tamper detection feature without the need for... [ Read more... ] 

July 01, 2013                     Think you know everything possible about how to run a successful buy-here, pay-here dealership? Are you considering getting into the business and are unsure about what steps to make first? The National Alliance of Buy-Here, Pay-Here Dealers is having another summer BHPH boot camp, and Hall of Famer Ed Bass gave a ringing endorsement after participating in the event a year ago. "The information is invaluable," said Bass, who ran his own BHPH store in Chicago for more than 50 years. NABD is not having the boot camp in the Windy City, but rather at iCars, the BHPH lot outside of Charlotte, N.C., owned and operated by Ingram Walters. Walters literally opens up the books and the doors at one of his lots, sharing his complete business ... [ Read more... ] 

By Nick Zulovich, Editor      LAS VEGAS — Dealers feverishly took notes in a packed conference room on Tuesday as a quartet of legal experts shared compliance procedures these owners and managers can immediately put into place upon returning to their stores after the National Alliance of Buy-Here, Pay-Here Dealers National Conference.  In a regulatory world intensifying thanks to the arrival of the Consumer Financial Protection Bureau, dealers especially took notice of a comment made by Hudson Cook chairman Tom Hudson.  "The bureau simply doesn't care if they put a dealer out of business," Hudson told the attendees at the Wynn in Las Vegas.  Hudson Cook partner Patty Covington also participated in the conference's opening session with Steve Levine of AutoStar Solutions and Terry O'Loughlin of Reynolds and Re... [ Read more... ] 

By Joe Overby, Staff Writer May 24, 2013 CARY, N.C. — For buy-here, pay-here dealers trying to secure used-car supply in the wholesale market, it certainly has been a challenging few years. But based on analyses coming from several different vantage points, it appears times are getting better. That was one central theme SubPrime Auto Finance News came across in recent months during our look at the slice of the BHPH pie dealing specifically with wholesale acquisition of vehicles for these dealers. To get a sense of the environment BHPH dealers are facing when it comes to finding cars for their lots, we reached out this spring to economists, leading BHPH franchises and auctions, and dove into the "Buy Here, Pay Here Industry Benchmarks/Trends 2012" report from the National Alliance of Buy Here, Pay Here Dealers, NCM Associates and other contributors. ... [ Read more... ] 

As seen in Subprime Auto Finance News:   WASHINGTON, D.C. — Extended warranties and other products appear to be the next regulatory target in the F&I office, according to a report by the Wall Street Journal. The report indicated officials familiar with a Consumer Financial Protection Bureau investigation said the agency recently issued subpoenas to U.S. auto lenders over the sale of extended warranties and other financial products such as gap insurance. Though such products are legal, the report noted that regulators are probing whether terms and prices are adequately disclosed. The CFPB has pursued a similar strategy with credit-card companies, fining them over the use of deceptive marketing practices to sell products such as identity-theft protection. The Wall Street Journal went on to report that the Department of Justice is also taking a great in... [ Read more... ] 

  In keeping with our goal of providing professional certification and compliance training documents to the collateral recovery and lending industries, RISC has been working with the National Alliance of Buy Here, Pay Here Dealers (NABD) to provide these services to Buy Here, Pay Here (BHPH) automobile dealers. BHPH automobile dealers are required to meet mandates of the Consumer Financial Protection Bureau (CFPB) just as lending institutions do.  If BHPH dealers also perform their own in-house repossessions they must face recovery compliance mandates as well.    In working with NABD it has been our intention to address the CFPB compliance mandates and assist BHPH dealers in the areas of self-help repossession activity and protecting Non-Public Personal Information (NPPI).  This information enables BHPH dealers to make more informed choices on whe... [ Read more... ] 

By Ted Craig, Managing Editor of Used Car News The Consumer Financial Protection Bureau went live with the nation’s largest public database of federal consumer financial complaints, opening up to consumers across the country information on more than 90,000 individual complaints on financial products and services. The launch expands the Consumer Complaint Database significantly from about 19,000 credit card complaints to more than 90,000 complaints on mortgages, student loans, bank accounts and services, other consumer loans, and credit cards. In many cases, it includes the sub-category of products. For example, for mortgages it includes reverse mortgages, conventional fixed mortgages, conventional adjustable mortgages, and home equity loans or lines of credit. The database allows the public to see what consumers complained about and why, as well as how and when the comp... [ Read more... ] 

  In keeping with our goal of providing professional certification and compliance training documents to the collateral recovery and lending industries, RISC has been working with the National Alliance of Buy Here, Pay Here Dealers (NABD) to provide these services to Buy Here, Pay Here (BHPH) automobile dealers. BHPH automobile dealers are required to meet mandates of the Consumer Financial Protection Bureau (CFPB) just as lending institutions do.  If BHPH dealers also perform their own in-house repossessions they must face recovery compliance mandates as well.  In working with NABD it has been our intention to address the CFPB compliance mandates and assist BHPH dealers in the areas of self-help repossession activity and protecting Non-Public Personal Information (NPPI).  This information enables BHPH dealers to make more informed choices on whether they w... [ Read more... ] 

NABD 2013 features more than 65 speakers and experts in a jam-packed venue designed to update attendees on all the most important industry developments during the last year. The 12 concurrent workshop sessions will contain valuable information, and are not infomercials. These sessions will be interactive where attendees can ask questions and get answers on topics of critical importance. Operators with multiple attendees are encouraged to divide forces so they don’t miss a thing. Compliance Moves To Make Now / Q&A – A panel of leading attorneys including Tom Hudson and Patty Covington (HudsonCook, LP), Terry O’Loughlin (Reynolds & Reynolds), and Steve Levine (Autostar Counsel) will discuss the most important legal and regulatory issues facing the industry today. They will offer important tips and insights into getting compliant now and avoiding legal pitfalls... [ Read more... ] 

PassTime, an industry leader in Payment Assurance and GPS tracking solutions, announced the recent successful launch of their new online management system, named OASIS. OASIS is a fully web-based system that allows customers to easily manage their PassTime products and services all in a single platform. PassTime offers GPS tracking and its own Automated Collection Technology (ACT) solutions to its customers in the BHPH and subprime finance industry. Its wide range of products and services, superior 24/7 live customer support, and industry expertise provide customers with a complete package for protecting their assets and managing their portfolios. PassTime OASIS was a ground-up project to build a scalable system based upon some of the latest technology structure available. This system provides users with innovative new ways to manage their PassTime devices to help protect their ... [ Read more... ] 

   Manheim needed only one word to summarize what 2012 was like for buy-here, pay-here dealers. In what economist Tom Webb likely will expand upon during the 15th annual National Conference conducted by the National Alliance of Buy-Here, Pay-Here Dealers, Manheim described last year's environment as "challenging" for this store segment. Despite that descriptor, Manheim said in its 2013 Used Car Market Report that BHPH dealers still accounted for more than 14 percent of total financing in the used-vehicle market a year ago. "Nevertheless, tax refund season, which is the biggest selling period for BHPH dealers, was less than robust in 2012. In fact, for the first time in many years, both the number and dollar amount of individual income tax refunds declined from the previous year," Manheim said in its report. "The dollars that ... [ Read more... ] 

TWELVE STEP APPROACH   1. Develop your Business Model including: a. Average vehicle ACV? b. Down payment required? c. Average sales price? d. Average reconditioning cost? e. Add-ons? GAP? Credit life? A&H, etc.? f. Unit sales per month? g. Warranty or service contract included or sold separately? Outside service contract purchased? h. Average projected inventory-carrying levels? Recycle repos or wholesale? i. Average contract term in months? j. Average finance rate to charge customers? k. Trade-in value of vehicles? l. Rural vs. urban model? m. Direct vs. indirect model? n. Sales tax payment requirements in your state? o. Overhead estimate?       2. Prepare a projection using the model in (1.) above to determine: a. Debt capital required? b. Equity capital required? c. ... [ Read more... ] 

Federal Trade Commission The Federal Trade Commission's Southwest Region Office has warned 11 used car dealerships in Jonesboro, Arkansas, that their sales practices violate the FTC's Used Car Rule, which requires used car dealers to display a "Buyers Guide" detailing warranty and other important information on the cars they sell. Compliance session at 2013 National Conference covering these issues and more. FTC staff inspections in Jonesboro found that eight dealers failed to display Buyers Guides on almost all used cars offered for sale, and three dealers failed to display the guides on a significant number of used cars. Ten dealers properly displayed the guides on all or nearly ... [ Read more... ] 

By Nick Zulovich, Editor Subprime Auto Finance News ATLANTA - A ceremony during the NABD East Coast Conference to enshrine the newest member of the alliance's Hall of Fame turned back the clock on the buy-here, pay-here industry to a time of handshake contracts and Southern hospitality. The National Alliance of Buy-Here, Pay-Here Dealers posthumously welcomed Martin Ingram to its Hall of Fame. Ingram started in the business back in 1958, establishing what now is Auto City, a BHPH company with three locations in Dallas. Alliance executive Ingram Walters introduced the new Hall of Famer, who died on Sept. 9, 2010. "When Martin Ingram asked how you were doing, he cared about the answer," Walters said. "I thought that said a lot. He cared about the answer. It wasn't just what he did, it was who he was. A lot of people ask how you're doing and t... [ Read more... ] 

   The Consumer Financial Protection Bureau, together with five states, has filed a federal complaint and submitted a proposed stipulated final judgment and order against a Florida company and its president for allegedly violating state and federal debt relief laws. Under the terms of the proposed final order, the defendants will pay $100,000 in restitution for consumers who allegedly paid fees but did not receive any debt relief services, along with an additional $5,000 civil penalty to the CFPB. The civil suit, filed on December 14, 2012, in the United States District Court for the Southern District of Florida, is the first joint enforcement action brought by the CFPB and several states, which include Hawaii, New Mexico, North Carolina, North Dakota and Wisconsin. The action names defendants Payday Loan Debt Solution, Inc., and its president, Sanjeet Parvani, and all... [ Read more... ] 

HOUSTON — Since the intimate training event the National Alliance of Buy-Here, Pay-Here Dealers conducted last summer went so well, the organization is ready to do it again to begin 2013. NABD said it will host its second-ever BHPH boot camp in Monroe, N.C., on Jan. 12–13. The boot camp is set up to provide hands-on training for both experienced operators and for attendees entering the industry with limited or no experience. All of the training sessions will be held at the facilities of iCars, which is owned and operated by Ingram Walters, one of the nation's most successful BHPH dealers for more than 20 years near Charlotte, N.C. "This boot camp will allow attendees to actually learn and see BHPH best practices at the same time," NABD founder Ken Shilson said. "We have constructed a comprehensive agenda which will address all of the key fina... [ Read more... ] 

The Winds of Change are Blowing and the Repo Insurance Market is Hardening With an election year upon us and so much uncertainty surrounding our political and economic environments, we are starting to see change coming. We are starting to see some more movement in subprime lending, which will slowly improve things for our industry. But make no mistake about it, repossession numbers will likely never be back where they were in the 2007-2010 periods. Regulations in lending, fear of the involvement of the CFPB and a general change in how lenders look at and deal with default have forever changed the lending environment, ultimately changing yours. With more and more forwarders becoming punitive in their contracts - assessing fees for every infraction of their policies, demanding pay-off and replacement costs for what amounts to others bad decision making, and pushing rates tha... [ Read more... ] 

By Thomas B. Hudson I've just finished giving the legal update speech to a room of several hundred car dealers - in this case, dealers of the "buy-here, pay here" variety. I've been telling them who's suing who for what, telling them the latest nuances of federal Truth in Lending law, giving them the lowdown on the FTC's new privacy regulations, and otherwise scaring them out of the car business. At the end of my gig, I always ask for questions, but there's never enough time for all the questions that everyone wants to ask, and, anyway, some people don't want to ask their questions in public. So I always tell the audience I'll hang around and visit if they have other things on their minds. So I'm stuffing my speech notes into my battered briefcase when a fellow approaches. Oh no! He's going to ask "The Question." ... [ Read more... ] 

NIADA congratulates California Governor "Jerry" Brown for exercising his veto power this past Saturday to strike down Senate Bill 956. A day before his veto power was set to expire for this year's legislative session, Gov. Brown vetoed SB 956 saying he was "...not yet convinced the evidence merits the regulatory oversight of this bill." "This is a big victory for the independent automobile industry, California's Buy-Here Pay-Here dealers and their valued customers," said NIADA CEO, Mike Linn. "We are glad that common sense carried the day in California during this legislative session regarding SB 956. Should the issues from this bill surface again next year, we'll be prepared." NIADA COO, Steve Jordan stated, "Many of us worked hard lobbying against this bill and fighting for its veto. We are proud of the efforts ... [ Read more... ] 

New developments in the Buy Here, Pay Here (BHPH) industry are happening at an unprecedented pace, and new operators are entering the business in record numbers! Both new entrants and experienced operators are seeking exceptional profit opportunities in the low yielding economic environments of today. Caution! The old ways aren’t working like they used to and operators need to understand all the new developments, how to capitalize on the profit opportunities, and avoid the fatal pitfalls to prosper in BHPH today. To succeed BHPH operators need: a) Capital b) Access to the right vehicles c) Technology and efficient systems d) Trained personnel who execute effectively e) Knowledge of the rules and regulations (both federal and state) f) A cash-efficient business model that maximizes ROI (return on investment) g) Prudent fin... [ Read more... ] 

LITTLETON, CO – August 7, 2012 PassTime announced today that it has been awarded a new patent from the United States Patent and Trademark Office for Geo-Fence functionality surrounding its GPS and wireless products. Patent number 8,217,772, titled “Automated geo-fence boundary configuration and activation,” issued in July and builds upon PassTime’s previous Geo-Fence patents. The patent covers the use of automated geo-fences which, essentially, are virtual boundaries established around an object as well as providing an individual notices in relation to the geo-fence. The patent also addresses new ways to detect tampering in applications of asset tracking.  A primary claim of the patent includes:  “A method comprising: receiving a signal that indicates operability of an onboard device coupled to a vehicle, the receiving at an operations cente... [ Read more... ] 

Littleton, CO- July 9, 2012- PassTime, an industry leader in Payment Assurance and GPS tracking solutions, announced the recent successful launch of their new online management system, named OASIS. OASIS is a fully web-based system that allows customers to easily manage their PassTime products and services all in a single platform. PassTime offers GPS tracking and its own Automated Collection Technology (ACT) solutions to its customers in the BHPH and subprime finance industry. Its wide range of products and services, superior 24/7 live customer support, and industry expertise provide customers with a complete package for protecting their assets and managing their portfolios. PassTime OASIS was a ground-up project to build a scalable system based upon some of the latest technology structure available. This system provides users with innovative new ways to manage their PassTime dev... [ Read more... ] 

Buy Here, Pay Here (BHPH) was founded on the concept of customers paying directly at the dealership. Theoretically, this was intended to build a stronger “bond” between the customer and the dealer after the vehicle was sold. It also allowed the dealer an opportunity to physically inspect the collateral (the vehicle sold) periodically over the entire term of the contract. Hence, BHPH was rightfully named, “buy here, pay here” because the majority of repayments were made in person by the customer. Payment procedures have changed dramatically over the last few years given a much different economic environment and the evolution of new technology. Today, operators must be particularly diligent in their collection procedures as today’s BHPH customers are short on liquidity and long on expenses! Today’s successful BHPH operator must provide multiple option... [ Read more... ] 

At the recent National Alliance of Buy Here, Pay Here Dealers (NABD) Dealer Academy in Las Vegas, the National Independent Automobile Dealers Association (NIADA) and NABD jointly announced the details of their inaugural BHPH Master Dealer Certification Training Program scheduled for Dallas, Texas in September 2012. Although NIADA has been conducting successful master dealer retail certification programs for several years, this is the first BHPH certification program ever held. At a very important time where the BHPH industry now faces many challenging legal and regulatory issues, this certification program is designed to help establish new operating and financial standards for industry leaders. Participants in the inaugural training program must meet certain operational standards including, but not limited to: - Five years of successful operating performance - Membership... [ Read more... ] 

April 18, 2012 Assemblyman Mike Feuer, Chair Judiciary Committee State Capitol, Room 2013 Sacramento, CA 94249 RE: Opposition to Assembly Bill 1447 Dear Chairman Feur, On behalf of the National Alliance of Buy Here, Pay Here Dealers (NABD) (a special interest group that consists of approximately 10,000 members), I am writing to inform you that we oppose the passage of the above-referenced bill. NABD works closely with the National Independent Automobile Dealers Association (NIADA) in monitoring and understanding regulations pertaining to the automotive industry. NIADA has furnished us with a copy of their opposition letter to you dated April 17, 2012, and we agree with its contents. (Copy attached) Please be advised that during the last twelve months NABD has conducted two national surveys on the use of payment assurance devices which cover both payment disabli... [ Read more... ] 

LITTLETON, Colorado — April 17, 2012 –AFS Acceptance (www.afsacceptance.com), a full service finance company which specializes in the subprime financing needs of car dealers around the country has named PassTime USA (www.passtimeusa.com), the industry leader in high-tech GPS tracking and Automated Collection Technology solutions a preferred vendor for its loan purchasing programs.   “We have recently revamped our program to become a viable option for our dealers.  With a strong emphasis on customer service and a new program, I am confident we can gain market share and help our dealers improve their bottom line.  We are truly excited about 2012,” stated executive vice president for AFS Acceptance, Scot Seagrave.    AFS Acceptance will integrate PassTime’s array of GPS tracking and Collections Technology solutions into its point... [ Read more... ] 

Access Capital Changes the Names of its Auto Finance Company from CAPEX Acquisitions to AC AUTOPAY  

Recently I saw an announcement regarding CA Senate Bill 459 and while reading it I couldn’t help but think of its effect on the recovery agency business owner. I think it’s important to recognize how today’s economic climate has negatively affected the small business owner and some of the consequences of the marginalization of fees. Since I’ve been in the recovery industry for over 30 years I can honestly state from experience that there are things under the surface not thought about but have grave consequences.   The ramifications are not immediately obvious to some in the lending industry as to the decreased margins.  However, what is very obvious to the business owner is the lack of resources to properly run their respective business.  Oh sure you’ll see some prosper but by in large most are having issues not recognized unless you pe... [ Read more... ] 

 Below is the letter sent to Senator Juan Vargas.   Senator Juan Vargas, Chairman Senate Committee on Banking & Financial Institutions State Capitol, Room 3092 Sacramento, CA 95814 Dear Chairman Vargas, After carefully reviewing Senate Bill 956 and its inevitable effects on California’s working class drivers, low wage earners and consumers with limited access to reliable transportation and un-bankable credit options for automotive financing, I am writing to you on behalf of the National Alliance of Buy Here, Pay Here Dealers (NABD) and our approximately 10,000 members to tell you that we oppose this bill.  In consultation with our close industry allies at the National Independent Automobile Dealers Association, (NIADA), we feel that a cap on interest rate equal to the Fed Rate plus seventeen percent as contained in the bill would stifle t... [ Read more... ] 

2011 Buy Here, Pay Here Year-End Review Annually NABD, with the help of SGC Certified Public Accountants (“SGC”), prepares buy here, pay here (“BHPH”) financial benchmarks from a database of their clients nationwide. These financial benchmarks are a composite of the “best performing” operators and are not an average of the entire database. Since 2006, the NABD benchmarks also include operating information on sales, collections and recoveries, and inventory management which were developed and supplied by NCM Twenty Groups (NCM”), based upon a composite of all of their BHPH twenty group members. The attached NABD benchmarks also include portfolio performance metrics which were compiled electronically by Subprime Analytics (“Subprime”) who, to date, has analyzed approximately $9 billion (over 1,000,000 individual deals) of BHPH instal... [ Read more... ] 

SFG Finance Launches Loyalty Program, Forms Alliance with Subprime Analytics   ARLINGTON, Texas — January 30, 2012 -- SFG Finance LLC (http://www.sfgfinance.com), a purchaser of auto paper from Buy Here Pay Here (BHPH) dealers, new car franchise dealers, finance companies, banks and credit unions, today announced the launch of its new loyalty program and the formation of a new alliance with Subprime Analytics, an analytical services leader  focusing exclusively on the needs of the large and growing Buy Here, Pay Here industry. “SFG Finance is launching a new loyalty program to help dealers thrive in today’s competitive environment by partnering up with premier companies in the industry that are the best at what they do. We feel this program provides a real value-add and are delighted to launch it by forming an alliance with such an industry powerho... [ Read more... ] 

SACRAMENTO, Calif. — California State Assembly Member Mike Feuer (D–Los Angeles) and State Sen. Ted W. Lieu (D–Torrance) have proposed legislation that would introduce new rules designed to “rein in abusive practices” of buy here, pay here dealers statewide. The announcements followed a series of articles by Los Angeles Times reporter Ken Bensinger that sought to shed light on used-car lots and the customers who frequent them. California State Assembly Member Mike Feuer greets the press in a file photo. This week, Feuer introduced AB 1447, one of a pair of bills that would impose new regulations on buy here, pay here dealers, including a ban on the use of payment assurance devices. “This industry preys on people who have no other options for getting a car,” Feuer said. “In many parts of our state, auto travel is the only way for pare... [ Read more... ] 

By Jon Acuff - autotrader.com What does "Buy Here Pay Here" mean? Buy Here Pay Here (BHPH) financing means that you arrange a loan and make payments on it at the dealership. You purchase the car through what's referred to as in-house financing versus through a third party, such as a bank. Instead of making monthly payments to a traditional lender, you make weekly or bi-weekly payments at the dealership. Although some BHPH dealerships will accept payment by phone or online, many require that you physically bring a check or cash to their location. You therefore "buy" the car at the dealership and "pay" on the loan at the dealership. What's the difference between a BHPH dealership and a traditional dealership? Depending on the dealerships you visit, very little. In fact, many traditional new and used car deale... [ Read more... ] 

  List Raises Concerns About Issuer Compliance With Cost Basis Reporting Law Requirements and Unexpected Capital Gains WALTHAM, Mass. – Jan. 9, 2012 –   Wolters Kluwer Financial Services   has released its annual Top 10 Corporate Actions, a list of the most challenging corporate actions from the past year. The tax and legal experts at Capital Changes, a part of Wolters Kluwer Financial Services that provides corporate action reporting, tax information and analysis, compile the annual listing to alert taxpayers and their financial and tax advisors to corporate actions that have complex or unusual tax consequences. A number of key issues and trends were spotted in observing this year’s list, including a large number of spin-offs and rights offerings. “The increase in spin-offs may purely be cyclical, as companies go from a... [ Read more... ] 

by Bill Neylan, Tax Refund Services Jan. 7, 2011 - Reports are flying about the IRS delaying the processing of tax returns until February.  This information is misleading…at least for BHPH customers.  The IRS will be accepting BHPH customer tax returns on JANUARY 14thor 15th! The delay that is being referred to is for Itemized Deductions.  The primary requirement for a taxpayer to “itemize” is to pay interest on a mortgage loan. Less than 1% of BHPH customers will be affected by this delay.  For those who are affected, they normally file in mid-February anyway. The $4,500 average tax refund comes from claiming qualified children, not itemized deductions, so there is no need to delay the filing of a tax return. The leading tax refund provider for the BHPH industry, Tax Refund Services Tax Max, is reporting that tax filings are ahea... [ Read more... ] 

The Manheim Used Car Market Report (UCMR) is the definitive source of information and trends that shape wholesale and retail used vehicle markets.  The 2011 Report strives to help readers navigate an automotive industry facing rapid change.  Please click on related links to view (UCMR). Join our forum for a discussion on inventory acquisition in this challenging environment.     (function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = "//connect.facebook.net/en_US/all.js#xfbml=1"; fjs.parentNode.insertBefore(js, fjs); }(document, 'script', 'facebook-jssdk'));   

December 2011 | Vol. 14, Issue 6 Legal Compliance Making a List and Checking it Twice By Nicole F. Munro* Santa isn’t the only one making a list and checking it twice this time of year. The Consumer Financial Protection Bureau and the Federal Trade Commission are making lists that will be used to determine who is naughty and who is nice. With all of these lists being made, dealers should consider making their own lists: compliance checklists. By creating a compliance checklist and checking it twice – that means implementation, folks – dealers will have a better chance of ending up on the CFPB’s and FTC’s “nice” lists. What should I put on my compliance checklist, you ask? Here’s a start. Your list can be broken down into parts of a transaction (application, origination, servicing, collection) or by the laws that gov... [ Read more... ] 

Franchise dealers enter 2012 with many of the same challenges they have faced for the last 24 months: a) excess facilities, b) needing more vehicle sales, c) declining credit scores of their customers, and d) tougher credit approvals from financing subprime sources. In response, many are looking at entering by here, pay here as an alternative. Notice I used the word "looking." It is prudent for good business people to carefully analyze a major investment before making it. In fact, it is recommended. Therefore, franchise dealers may wish to utilize the following checklist before entering the BHPH business. It will greatly mitigate their risk and increase their chances for success. 1. Do your homework! Get educated on the BHPH industry. This can be done for free via the internet by accessing the NABD web site: www.bhphinfo.com. Log in, register, and get a free password. He... [ Read more... ] 

During the last 12 years the National Alliance of Buy Here, Pay Here Dealers (NABD) has been an exhibitor at the National Auto Dealers Association (NADA) annual convention. We again will exhibit at their upcoming convention on February 4-6. This event always affords me the opportunity to network with new and used car dealers and other automotive industry experts during the convention to get a perspective on what's happening in the industry.   At past conventions I have enjoyed visiting with many new car dealers who were interested in buy here, pay here operations.  Here are some past observations about those conversations: 1) In previous years, franchise dealers were just starting to express interest in buy here, pay here.  Many, however, were skeptical about expanding into that segment of the automotive business. They seemed torn between fear and greed! ... [ Read more... ] 

Go Financial™ offers financing solutions to Franchise and Independent car dealers across the country. Phoenix, Arizona – December 1, 2011 – DriveTime Automotive Group, Inc., the nation’s largest used car sales and finance company serving people with less than perfect credit, announced today the launch of an indirect lending division doing business as Go Financial. “GO Financial is a perfect complement to DriveTime’s business model,” said Colin Bachinsky, GO Financial President. “We’ve leveraged our 20 years of experience selling cars and financing customers directly through DriveTime’s 90 locations to design the GO Financial program. Having our roots as a dealer gives us a unique advantage over other indirect lenders; we see the market through the dealer’s eyes so we understand the customer / dealer relationship bet... [ Read more... ] 

By Nick Zulovich, Staff Writer via Suprime Auto Finance News SCHAUMBURG, Ill. - Buy-here, pay-here penetration in used-vehicle financing continues to be on the rise, according to third-quarter data assembled by Experian Automotive. Experian discovered the BHPH market share climbed 10.5 percent year-over-year to 14.26 per-cent of all used-vehicle financing in the third quarter. Melinda Zabritski, director of automotive credit for Experian Automotive, explained during a Webinar that the BHPH's market penetration has steadily risen for nearly two years. Beyond consumer need, why is BHPH on an upward track? "I know we're seeing an increase in buy-here, pay-here financing in the franchise dealer market. I think we'll continue to see that part of the sector increase," Zabritski responded.  "I think dealers are looking at it as a profitable area,"... [ Read more... ] 

2009 BUY HERE, PAY HERE YEAR-END REVIEW & A LOOK AHEAD! Annually NABD, with the help of Shilson, Goldberg, Cheung & Associates, LLP(“SGC”), CPA’s, prepares buy here, pay here (“BHPH”) financial benchmarks from a database of more than 500 operators nationwide. These financial benchmarks are a composite of the “best performing” operators and are not an average of the entire database.  nce 2006, the NABD benchmarks also include operating information on sales, collections and recoveries, and inventory management which were developed and supplied by NCM Twenty Groups (NCM”), based upon a composite of all of their BHPH twenty group members. The attached NABD benchmarks also include portfolio performance metrics which were compiled electronically by Subprime Analytics (“Subprime”) who, to date, has analyzed more than $6.... [ Read more... ] 

Rancho Santa Margarita, CA—FEX DMS recently launched major enhancements to its Electronic Payment Service “FEX EPS”. The new enhancements revolutionize the way FEX DMS dealers can accept and post payments. “There are several valuable enhancements with this new EPS release,” states Jeff McCurry, Chief Technology Officer of FEX DMS. “While we continue to evaluate ways to help dealers manage their business, this application now allows dealers to control what they are willing to accept online—and gives their customers the convenience of online payment. Dealers have the option to accept or change both full and partial payments.” Each enrolled dealer can now have their own personal “myFEXaccount” public pay portal. FEX EPS offers dealers convenient tools to configure their tolerances, payment types and frequencies of payment. ... [ Read more... ] 

By BHPH Report StaffHOUSTON and MONROE, N.C. - Just before Thanksgiving arrives and the holiday season cranks up in earnest, the National Alliance of Buy-Here, Pay-Here Dealers is giving veteran operators as well as professionals who want to close 2014 by learning more about the industry the chance to see all elements of a thriving operation in action.NABD's next BHPH Boot Camp is set for Nov. 8 and 9 in Monroe, N.C., just east of Charlotte. Attendees will have the opportunity to examine all parts of the BHPH operation of Ingram Walters, who has been associated with NABD since its inception and has been running his own dealerships for more than 20 years.Doug Radcliff went to a previous boot camp. Radcliff has been the general manager of the Sam Swope Advantage Plan in Louisville, Ky., for more than 20 years. The Sam Swope Automotive Group is the largest franchised dealer group in Kentu... [ Read more... ] 

by Gene Daughtry                           What Happens in Vegas Better NOT Stay in Vegas   I recently attended and participated in the NABD Dealer Academy and the NABD Buy Here, Pay Here (BHPH) Conference and, man, what a week it was! Ken Shilson and Ingram Walters of NABD have a tremendous understanding of the business from two different perspectives, which has honed the Dealer Academy into an excellent learning environment for helping guide new dealers toward success in BHPH. Participants were able to visit with many industry experts, including Brent Carmichael and yours truly, to discuss ways of continuing successful growth and profitability in the future. During the Academy, there were many automobile deale... [ Read more... ] 

It is with a heavy heart that we share the news of the sudden passing of Auto Master Systems’ President and CEO, Brian Hoppel. Our hearts go out to Brian’s many friends and family.  We will be forever grateful for Brian’s decades of service and dedication to making Auto Master Systems what it is today. Perhaps the greatest testament to Brian’s success is the Auto Master team that he leaves behind and who continue to carry out his vision.   Don Jones, founder and Chairman of Auto Master, has assumed the role of President and CEO. Mike Downey, Vice President of Sales & Marketing, and Jeff Moloch, Vice President of Operations, together with all of the company’s professional team, are committed to preserving Brian’s legacy by not only maintaining, but continuing to grow, the company he treasured.  

      TUESDAY, MAY 23, 2017 Location 10:00 AM - 7:00 PM Registration  Wynn Registration # 1 10:00 AM - 5:00 PM Exhibitor Move-In  Wynn Lafite Ballroom 1:00 PM - 1:45 PM First Timer Reception (Invitation Only) Encore Ballroom 1-3 2:00 PM - 5:45 PM GENERAL EDUCATION SESSIONS Location 2:00 PM - 2:45 PM Critical Decisions to Succeed Now Encore Ballroom 4-8 3:00 PM - 3:45 PM Legislative/Regulatory Update Encore Ballroom 4-8 4:00 PM - 4:45 PM An Evolutionary ... [ Read more... ] 

NABD has worked with DBA International to educate each other’s membership on the regulatory issues and best practices unique to each group. As such, we wanted to make sure you were aware of the safeguards provided to Buy Here Pay Here Dealers by working with DBA International Certified Professional Receivables Companies (CPRC). We have confidence that the debt buying companies, collection agencies and law firms that have received their Certified Professional Receivables Company (CPRC) designation are committed and working diligently to help ensure they uphold the highest standards in the industry. Click here to download a current list of companies that have completed their certification who work in auto receivables. The list includes all asset classes the companies work in and the states they operate in to allow you to better match your auto debt portfolios... [ Read more... ] 

            This is an excellent opportunity to promote your new products or services to attendees, at the opening of Exhibit Hall sessions during our National Conference May 24-26 at the Wynn in Las Vegas. This will be the largest exhibit hall in BHPH industry history, so attendees will appreciate being directed to your booth.             Each presenter will have up to five minutes to explain and encourage interaction with experts at their booth. During the Conference, attendees will be encouraged to learn about your new products and services during the interactive Workshop Sessions.             Attendees will be eager to talk with your product experts in the Exhibit Hall, and the Showcase is designed to dri... [ Read more... ] 

Re.: NABD National Conference for Buy Here Pay Here To:  My Boss From: Your Dedicated Employee   I’m writing to ask for approval to attend the annual Buy Here, Pay Here Conference on May 19-21, 2015 in Las Vegas. This conference will give me the opportunity to learn best practices from experts in BHPH collections, meet one-on-one with exhibitors, network with dealers from around the world, and hear about recent innovations in the industry. I will also have the opportunity to sit in on several educational courses that would normally cost hundreds of dollars individually. This NABD conference will be the most cost-effective way to maximize our training dollars. I’d like to attend to find solutions or best practices that would directly impact the following departments of our operation: ·         Growing sales ... [ Read more... ] 

            Houston, Texas – The National Alliance of Buy Here, Pay Here Dealers (NABD) today announced further details of fourteen (14) concurrent workshops, which will be part of its 17th Annual BHPH Conference at the Wynn in Las Vegas May 19-21.             Ken Shilson, President and founder, indicated that seven (50%) of these workshops have never been done previously at NABD before! This year we have over 50 different speakers and panelists who will share best practices, tips, and techniques to help attendees compete more successfully and grow market share.” Topics to be covered include current issues, payment devices, competing for the best customers, inventory acquisition strategies, website best practice tips, maximizing recoveries, an IRS update, reporting... [ Read more... ] 

“NABD is the leading voice and authority in our industry . . . there is no close second. This show, and other NABD contributions, is an absolute must for dealers whose livelihood depends on the BHPH industry.”               Al Gardiner, St. Mary’s Motors   “As always, NABD and Ken Shilson have their fingers on the pulse of the BHPH industry. As our industry continues to come under close scrutiny and tighter regulation, real time information on what the CFPB and other regulators are doing, planning on doing and honing in on, is more important than ever. The legal experts on the panel were top notch, not afraid to answer the hard questions and get us all on the right path to compliance. The technology experts have listened and are treated our business as the real player it is for even more credit challenged customers than... [ Read more... ] 

 By Nick Zulovich  BHPH Report Editor  DALLAS — Recently an operator came to Ken Shilson and told the founder of the National Alliance of Buy-Here, Pay-Here dealers that he found an easy way to save money on every sale he made at his dealership. Immediately after Shilson applauded the operator on the achievement, he asked the BHPH dealer how he did it. The dealer indicated his operation doesn’t run a credit report on any potential buyers because “they all have bad credit anyway, so we couldn’t learn anything from it if we did,” according to Shilson’s recap of the encounter. That’s the point where Shilson’s cheering of the decision turned into a path of recommendations about how that operator could make better use of about $5 per deal.“It’s not a crime in America not to run a credit report from a legal standpoint,” Shilson said... [ Read more... ] 

HOUSTON, TEXAS – The National Alliance of Buy Here, Pay Here Dealers (NABD) today announced further details of its upcoming event at the Hilton DFW Lakes Executive Conference Center in Dallas, Texas on Jan. 18-20, 2015. “This Conference is designed to address the biggest challenges the subprime auto finance industry is facing today,” said Ken Shilson, NABD Founder and President. “The buy here, pay here operator is now facing stiff competition from finance companies, credit unions, and franchise dealers. Therefore, BHPH operators must find new ways to retain and regain their customers and increase market share during these highly competitive times. The old ways just aren’t working because the industry economics and customer behavior have been altered by all this competition for subprime customers,” Shilson explained. “In addition, our industry is facing so... [ Read more... ] 

HOUSTON, TEXAS – The National Alliance of Buy Here, Pay Here Dealers (NABD) has released details of its upcoming Buy Here, Pay Here (“BHPH”) “Best Practices Conference” at the Hilton DFW Lakes Executive Conference Center in Dallas, Texas on January 18-20, 2015. The Conference theme will be, “Working Smarter and Avoiding Compliance Pitfalls”.             For the last four years, NABD has hosted several popular BHPH Dealer Academies prior to their annual National BHPH Conference each May in Las Vegas. Three of those focused on “best operating practices” and the fourth on regulatory compliance. January’s dual-track Conference program will include the most popular sessions from these past academies, and some new ones. The compliance track will feature several of the nation’s leading attorneys and experts i... [ Read more... ] 

  Thank you for attending this fifteenth (15th) annual National Conference for Buy Here, Pay Here. We are excited about our new venue. We think this hotel is a “Wynn” for both NABD and the attendees because our educational sessions and exhibit hall are located close together. The five-star facilities and centralized logistics facilitate your networking with other attendees and the exhibitors during the conference.   Our educational sessions begin with concurrent workshops starting at 4:00pm on Tuesday, May 21. These concurrent workshops continue on Wednesday morning until noon. We encourage you to attend these sessions as they contain valuable information which will help you be more successful. All of these workshops are interactive, so please ask questions. These sessions contain valuable information and are not infomercials. Hopefully you brought at le... [ Read more... ] 

  Thank you for attending this NABD Dealer Training Academy. We recognize that you have made an investment of both time and money to attend. We plan to maximize the return on that investment during the next two days!   It requires more skill and knowledge to run a BHPH operation successfully than ever before! However, the profit opportunities in this industry are particularly attractive given the low yielding environment of today. Success in the BHPH industry, we believe, largely rests on a series of critical decisions that you must make when operating. NABD, with the input of several of the nation’s most successful operators and experts has assembled a proprietary critical decisions checklist which is included in Tab 2 of this workbook.    Ingram Walters will discuss these critical decisions in our opening session at 4:00pm on Sunday afterno... [ Read more... ] 

For all ACADEMY attendees – On Sunday, May 19, attendees will participate in general educations, sessions, which continue until noon on Monday, May 20. Success in BHPH can be attributed to the critical decisions operators must make when entering the business and when conducting operations. NABD has developed a comprehensive checklist of these critical decisions with input from experienced, successful operators and industry experts. Each academy attendee will receive the checklist and the academy sessions are designed to help attendees make the right decisions. This tool will serve as an invaluable reference resource after the Academy for both new and experienced operators. Other education sessions, which will be covered during the general sessions on Sunday afternoon and Monday morning, include a compliance Q&A, building a successful business model, underwriting and... [ Read more... ] 

NABD 2013 National Conference Event Speakers  

Responses by: Ken Shilson, NABD President, Conference Chairman Question: If I attended NABD 2012 last year, why should I come to NABD 2013? Answer:Developments in the Buy Here, Pay Here (BHPH) industry are happening at an unprecedented pace. Since last year, many new sources of capital have opened to BHPH. There is new technology, which can make you more profitable and efficient. There are important new laws and regulations that make compliance more challenging. This event will help you keep current on these important industry developments, and will facilitate networking with many of the nation’s best operators and experts. Question: Has anything new been added to the NABD 2013 agenda this year, as compared with last year? Answer: Several new agenda items have been added this year, including: integrating special finance with BHPH, how to create an effective compl... [ Read more... ] 

HOUSTON, TEXAS – The National Alliance of Buy Here Pay Here Dealers (NABD) today announced the successful completion of its second BHPH Boot Camp in North Carolina. The boot camp training was conducted at the operations of iCars (in Monroe, North Carolina, just outside of Charlotte), which is owned and operated by Ingram Walters. “This allowed attendees to attend classroom training and to receive in-the-field training at one of the nation’s best operations!” said Ken Shilson, CPA who also instructed at the Boot Camp. The program featured a complete tour of the entire iCars operation and included individual training sessions with each attendee. The “sold out” program was presented to twenty-one attendees from twelve dealerships around the U.S. with varying levels of BHPH experience. Shilson indicated that several attendees had more than five year... [ Read more... ] 

Houston, Texas – The National Alliance of Buy Here, Pay Here Dealers (NABD) today announced that it will host three upcoming Buy Here, Pay Here (BHPH) training events in Charlotte, North Carolina and Las Vegas, Nevada in 2013.   Ken Shilson, CPA and founder of this 15 year old used car special interest group explained, “Profit opportunities in the buy here, pay here industry have never been greater for operators who understand the business and avoid costly pitfalls. NABD training will help attendees capitalize on the profit opportunities,” Shilson said.   The 2013 training will open with a “Boot Camp” at the operations of iCars near Charlotte, North Carolina on January 12-13. iCars is one of the most successful BHPH operations in the nation and the boot camp allows attendees to learn and actually see how to operate profitably. Instr... [ Read more... ] 

HOUSTON, TEXAS – The National Alliance of Buy Here, Pay Dealers (NABD) today announced that they will host a Buy Here, Pay Here (BHPH) Dealer Academy at the Wynn Hotel and Casino in Las Vegas on May 19-21, 2013. The Dealer Academy will be followed by the 15th Annual BHPH National Conference, also at the Wynn. Ken Shilson, CPA and Conference Chairman said, “We are excited about holding our 2013 conference at the Wynn, which is recognized with more Forbes Five Star Awards than any other casino resort in the world! The Wynn Las Vegas and its affiliated property, Encore, offer luxury accommodations of the highest quality. Collectively guests find 35 fine dining options to suit any taste, two Forbes Five Star Award-winning spas, six pools, lush gardens, two full service salons, and an 18-hole championship golf course. The resort also features three of the most popular nightclu... [ Read more... ] 

  Thank you for attending this NABD East Coast BHPH Conference. We understand that not everyone can attend our national conference in Las Vegas each May, so we believe this Atlanta venue is very beneficial for operators and sponsors in the eastern part of the United States. Your attendance here validates that decision.   Our special thanks to GIADA for co-sponsoring this event. Memberships in your local, state, and national dealer associations play an important role in providing operators with all the relevant information they need to be compliant and stay “on top of their game”. NABD was created to supplement your educational needs with specialized BHPH training. All of these resources are important. In the challenging automotive environment of today, education and networking have never been more valuable. The more you learn, the more you will earn. ... [ Read more... ] 

HOUSTON, TEXAS – The National Alliance of Buy Here Pay Here Dealers (NABD) today announced the successful completion of its inaugural BHPH Boot Camp in North Carolina. The boot camp training was conducted at the operations of iCars (in Monroe, North Carolina, just outside of Charlotte), which is owned and operated by Ingram Walters. “This allowed attendees to attend classroom training and to receive in-the-field training at one of the nation’s best operations!” said Ken Shilson, CPA who also instructed at the Boot Camp. The program featured a complete tour of the entire iCars operation and included individual training sessions with each attendee. The “sold out” program was presented to twenty attendees from ten dealerships around the U.S. with varying levels of BHPH experience. Shilson indicated that several attendees had more than ten years of e... [ Read more... ] 

Houston, Texas – May 22, 2012 – The National Alliance of Buy Here, Pay Here Dealers (NABD) announced today that an international group of dealers, experts and operators gathered in Las Vegas from May 14-18, 2012 to hear nationally-recognized speakers, and to interact during five days of education and networking exclusively for buy here pay here. “Our Dealer Academy which preceded the National Conference this year included dual tracks for both new and experienced operators,” said Ken Shilson, CPA and Conference Chairman. “Overall attendance included more than 1,700 total attendees. The Dealer Academy focused on all the important operational and financial aspects of the business and stressed the importance of compliance. The national conference updated attendees on the latest technology, new capital resources, underwriting and collection tools, and provided the... [ Read more... ] 

Welcome Message Thank you for attending this NABD Dealer Training Academy. We recognize that you have made an investment of both time and money to attend. We plan to maximize the return on that investment during the next two days!                It requires more skill and knowledge to run a BHPH operation successfully today than ever before! During this Academy we will cover every operational and financial aspect of the business. We have assembled many of the most talented operators and experts who will share their tips, insights, and proven strategies that are working successfully today. Your questions and participation are encouraged as the knowledge and talent does not stop with our speakers. Many of the nation’s best operators are attending this training. We are all here to make each other more successful! The... [ Read more... ] 

Whether you are new to the buy here, pay here industry or are trying to take your existing operation to a higher level the 2012 NABD Dealer Academy is for you. Here are some of the program highlights: FOR NEWER OPERATORS – HIGHLIGHTS BHPH 101 –In this session, Ingram Walters explains the secrets of success learned from more than 20 years in the BHPH business. Attendees will learn all the BHPH terminology from a glossary of industry terms which will be a valuable reference tool for the future. Developing Your Business Model For Success –All attendees receive free projection modeling software which can be used to “tune up” your business model. Ken Shilson, CPA and Brent Carmichael, Executive NCM Moderator will discuss how to construct a successful model and the 2011 BHPH performance benchmarks. Fran Cavenaugh, one of the nation’s most successf... [ Read more... ] 

1. What are the differences between the NABD 2012 National Conference and the Dealer Academy? The Dealer Academy is intended to provide personalized in-depth training on all financial and operational aspects of the BHPH business. It is a dual-track program for both attendees who have limited BHPH experience and for operators trying to improve their existing operations. The Academy agenda emphasis is on underwriting and collections, acquiring inventory and on compliance. It will include interactive sessions with capital providers for operators who may not have secured a senior credit facility from a bank and others seeking alternate capital solutions. The National Conference is intended to update attendees on important developments in the BHPH industry during the last twelve months and to showcase all the latest products / services. 2. Who are the instructors at the Dealer ... [ Read more... ] 

Houston, Texas˗ The National Alliance of Buy Here Pay Here Dealers (NABD) today announced that it will host a dealer training academy covering all important financial and operating aspects of buy here, pay here. The Academy will be held at the fabulous Venetian / Palazzo Resort and Casino in Las Vegas, Nevada on May 14-16, 2012. Ken Shilson, CPA, who is the founder and president of NABD, indicated that the academy program is designed to provide in-depth comprehensive training on all facets of buy here pay here operations. “This year, the agenda has been expanded and we will feature a dual-track program for people who are new to the BHPH industry and for experienced operators who are trying to improve their profits and cash flow. It is ideally suited for key employees and others who are seeking to expand their knowledge and skills, and for owners who are trying to take their... [ Read more... ] 

Houston, Texas – The National Alliance of Buy Here, Pay Here Dealers (NABD) today announced that it will hold a Dealer Academy at the Venetian / The Palazzo on May 14-16, 2012. In addition, NABD will hold its 14th Annual National Conference on May 16-18, 2012, also at The Venetian / The Palazzo. Kenneth Shilson, CPA, founder and conference chairman explained that “the Dealer Academy will provide in-depth dual-track training for operators who are new to the industry and for experienced operators seeking to improve their profits and cash flow.” The Academy will include training on all facets of BHPH operations and will feature many of the nation’s leading operators and experts. “The Academy is only for attendees who want to excel in the BHPH business,” Shilson said. Immediately following the Academy, NABD will host its 14th Annual National Con... [ Read more... ] 

NABD 2017 NATIONAL CONFERENCE AGENDA                 TUESDAY, MAY 23, 2017 Location 10:00 AM - 7:00 PM Registration Wynn Registration # 1 10:00 AM - 5:00 PM Exhibitor Move-In Wynn Lafite Ballroom 1:00 PM - 1:45 PM First Timer Reception (Invitation Only) Encore Ballroom 1-3 2:00 PM - 5:45 PM GENERAL EDUCATION SESSIONS Location 2:00 PM - 2:45 PM Critical Decisions to Succeed Now Encore Ballroom 4-8 ... [ Read more... ] 

          TUESDAY, MAY 23, 2017 Location 10:00 AM 6:00 PM Registration Wynn Registration # 1 10:00 AM 5:00 PM Exhibitor Move-In Wynn Lafite Ballroom 1:00 PM 1:45 PM First Timer Reception (Invitation Only) Encore Ballroom 1-3 2:00 PM 5:45 PM GENERAL EDUCATION SESSIONS Location 2:00 PM2:45 PM Critical Decisions to Succeed Now Encore Ballroom 4-... [ Read more... ] 

 

NABD 2016 Evaluation  Form   

2012 Payment Device Survey #3 Results  

In April 2012 the National Alliance of Buy Here, Pay Here Dealers (NABD) completed an online survey which focused on payment device best practices. This study was the third conducted by NABD during the last 18 months and included 164 respondents from 37 states, Canada, and the U.K. and covered approximately 180,000 units. The three surveys conducted by NABD collectively covered approximately 450,000 devices, and all survey results can be downloaded free at the NABD website www.bhphinfo.com.  All of the survey respondents were users (both large and small) of the devices and all results were independently compiled by ZoomerangTM. NABD was not compensated for any of the surveys and has no economic interest in any payment device providers, and the results should therefore be considered credible. For purposes of all three NABD studies, the definition of payment assurance devices inclu... [ Read more... ] 

NABD Announces Completion of New Payment Devices Study Houston, Texas – May 2, 2012 - The National Alliance of Buy Here Pay Here Dealers (NABD) today announced that it has completed a new national survey on “best practices” involving the use of disabling and GPS devices. This most recent study surveyed over 160 respondents from the United States, Canada and the UK using more than 180,000 devices. The survey is the third survey conducted by NABD covering devices which collectively The latest “best practices” study provides important new insights on the impact of these devices on underwriting, collections and recoveries. It also explains the different ways devices are utilized within the BHPH industry, according to Shilson. At the Fourteenth Annual NABD National Buy Here Pay Here Conference on May 16-18, 2012, a panel of experts will discuss the finding... [ Read more... ] 

INTRODUCTION Since the advent of payment assurance devices in the “Buy Here Pay Here” (“BHPH”) marketplace, many of the survey respondents who have used them experienced reductions in consumer defaults and repossession rates. In October 2011 the National Alliance of Buy Here, Pay Here Dealers (NABD) completed an on-line survey of operators (including both dealers and finance companies) which focused on the benefits to consumers from the proper use of payment assurance devices. The study included responses from 119 operators and users of more than 110,000 units. For purposes of this study the definition of payment assurance devices included both starter disablers (also known as starter-interrupt devices both with and without a payment reminder feature) and Global Positioning Systems (GPS). Some of the GPS systems surveyed also included starter interrupt functi... [ Read more... ] 

Houston, Texas; March 4, 2011–The National Alliance of Buy Here, Pay Here Dealers (NABD) today announced that it is conducting a national online survey of payment device practices using its newly-revamped interactive website at www.bhphinfo.com. The survey is being conducted from now through March 31, 2010 and is open to all users of these devices. Ken Shilson, CPA and President/Founder of NABD indicated this is the third study on payment devices and that it will be the largest such survey ever conducted. “Our two previous studies gained valuable information on the use of both payment assurance and GPS tracking devices. The results of these previous studies are available free of charge on the NABD website. “From the previous studies we learned that these devices are very beneficial but that operators utilize them differently which impacts results. Therefore this ... [ Read more... ] 

Houston, Texas˗ The National Alliance of Buy Here Pay Here Dealers (NABD) today launched an online best practices survey on the use of payment devices. This survey should be completed by operators who utilize payment disablers, GPS tracking devices, or dual technology devices. Respondents should visit the NABD website at www.bhphinfo.com and the survey is located at http://www.zoomerang.com/Survey/WEB22EURGXHSVY. Ken Shilson, CPA and founder of NABD indicated that this is the third survey conducted on these devices. “The first focused on how the devices were utilized and the second evaluated the benefits to the consumer from using them. A white paper summarizing the results of the first study was previously released and another white paper on the second study will be released shortly”, Shilson explained. This survey will be open to respondents from March ... [ Read more... ] 

Payment Device Survey Results 

Payment Device Study Results  

Houston, Texas, September 15, 2011 –The National Alliance of Buy Here Pay Here Dealers (NABD) announced that it has today released a comprehensive “white paper” which summarizes a national payment device survey it conducted earlier this year. Kenneth B. Shilson, CPA, President and Founder of NABD, indicated that “the study surveyed more than 100 users and included approximately 150,000 payment device units to discover the impact these devices are having on the BHPH industry, and to identify some user best practices. “The survey provided new insights in respect to the use of both payment assurance and GPS tracking devices and was overwhelmingly positive toward their use and their overall operational impact,” Shilson noted. “Although the ways in which these devices are used, still varies between users, the consensus was that payment devices ... [ Read more... ] 

Getting to the Next Level - Walters / ShilsonAdvertising Do's & Don'ts - HudsonTreat Your Business Like A BusinessNew Technology ShowcaseACV Auctions Magnum ChatLyft National Reconditioning Survey Results Way to Increase Sales Tax Max  Interactive Financial Marketing GroupCollection "Hot Spots"  

Critical Decision to Succeed Now Legislative / Regulatory Update An Evolutionary View of Wholesale Acquisition Benchmarks / Trends Update"Embracing Change" Keynote - Richard Flint Technology Solutions Showcase - Maheim Mobile -Magnum Chat-PodiumReconditioning Best PracticesGetting your Best Customers Back- Tax Max - Auto  Search Solutions Compliance Hot Topics / What to do About Them   

Tuesday Track 1Managing Vendor ComplianceWays to Turn Charge-offs into CashInteractions & Transactions - Millennial Marketing Tuesday Track 2New Technology Showcase Making Your Deal Jack CompliantBest BHPH Reconditioning Practices Wednesday Track 1 F& I Products Best PracticesIncreasing Your Tax Refund Business Capital Solutions - Selling ContractsPayment Devices Best PracticesWednesday Track 2 New Accounting / Tax DevelopmentsLHPH Best PracticesCapital Solutions - Lines of Credit / Floor PlansTechnology Solutions for SuccessGeneral Session Current Developments UpdatesSourcing Financing & Marketing Inventory Using Digital ChannelsBenchmarks / Trends Update Thursday General SessionsDJ SaysAvoiding Collection MistakesCompliance Issues / Ways to protect your operation  

                                                              Meet Our NABD Sponsors       Track 1 May 24, 2016                                                                                             Track 2 May 24. 2016Current Developments Update Panel                                                                     &... [ Read more... ] 

                Track 1                                                                                                                                      Track 2 Web Tips to Regain Lost Sales                                                                                             ... [ Read more... ] 

       TRACK 1                                                                                                                                                    The Purpose Driven Website                                                                                          &... [ Read more... ] 

Track 1                                                                                                            Track 2How to Succeed in BHPH Today                                                                   Compliance Management Systems - Whats Needed Website Best Practices                                                 ... [ Read more... ] 

BHPH Best Operating and Compliance Practices ConferenceDual-Track Workshop Profiles - January 18-20, 2015IntroductionThe NABD BHPH Best Operations and Compliance Practices Conference features 11 dual-track interactive workshops covering practices, tips and techniques every BHPH operator can use to compete more successfully today. The tracks are concurrent and provide important information on best operating and compliance practices. If you brought two or more attendees, we encourage you to participate in both tracks. Bring your questions and get answers during these interactive sessions. After the workshops, you can see all the latest products and services in our "sold-out" Exhibit Hall. The workshop sessions begin at 2:00 PM on Sunday afternoon and conclude at 6:00 PM on Monday. On Tuesday morning, the single-track General Education Sessions begin for all attendees and the Conference w... [ Read more... ] 

 

NABD National Conference Presentations Ingram Walters - Critical Decisions for Success How to Dominate your Market Online What Consumers Want from Your Dealership Benchmark, Trends Update Used Vehicle Update  

NABD 2013 Conference Presentations 

NABD Dealer Academy 2013 Presentations 

NABD 2012 BHPH EAST COAST CONFERENCE POWER POINTS  

Dealer Academy 2012 Power Points  Please see Related Links: 

NABD 2012 Conference Power Points  Please see Related Links: 

NABD 2011 East Coast BHPH Conference Power Point Presentations 

Please visit related links: 

 

 

2014 Benchmarks 

2013 Benchmarks  

2013 BUY HERE, PAY HERE MID-YEAR REVIEW By Kenneth B. Shilson, CPA Founder, National Alliance of Buy Here Pay Here Dealers (NABD) President, Subprime Analytics   This year has been a challenging period for BHPH operators. Unit sales and revenues have been adversely impacted by strong competition from special finance funding sources and from franchise operators competing for our best customers. This competition has made it difficult to increase market share or to even maintain it without expansion into additional new facilities or with diversification. Further, subprime financing sources are luring our BHPH customers into returning their existing vehicles and purchasing new ones! This has caused more voluntary repossessions.   Despite these short-term market challenges, the longer-term perspective for BHPH is positive for the following reasons: ... [ Read more... ] 

2012 Benchmarks 

Annually NABD, with the help of SGC Certified Public Accountants (“SGC”), prepares buy here, pay here (“BHPH”) financial benchmarks from a database of their clients nationwide. These financial benchmarks are a composite of the “best performing” operators and are not an average of the entire database. Since 2006, the NABD benchmarks also include operating information on sales, collections and recoveries, and inventory management which were developed and supplied by NCM Twenty Groups (NCM”), based upon a composite of all of their BHPH twenty group members. The attached NABD benchmarks also include portfolio performance metrics which were compiled electronically by Subprime Analytics (“Subprime”) who, to date, has analyzed approximately $9 billion (over 1,000,000 individual deals) of BHPH installment contracts to identify loss rates, patt... [ Read more... ]