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 from 15 different dealerships around the U.S., with varying levels of BHPH experience. Shilson indicated that the majority of attendees had more than five years of experience in BHPH, which enhanced networking and best practice discussions.

            The Boot Camp training covered all areas of BHPH operations including building a successful business model, acquiring and reconditioning vehicles, best underwriting and collection practices, financial management and monitoring, compliance, technology solutions, and maximizing recoveries. All attendees received projection modeling software, a complete policies and procedures and human resources manual, and other resource materials including legal and compliance materials supplied by Hudson & Cook, LLP; sample pay plans; a reconditioning plan and much more.

            “For a very modest investment, attendees received invaluable training and resource materials which can help make them million$,” Shilson said. “The opportunity to see iCars, receive individual instruction, and learn best practices provided a unique experience,” Shilson said.

            “It takes capital, technology, and knowledge to prosper in BHPH today. The old ways of doing things don’t work like they used to because of increased competition and different industry economics. Operators must develop new ways to prosper, and incorporate capital and technology, along with sound operating practices, to remain competitive. This Boot Camp included participation from three leading technology providers: Auto Master Systems, PASSTIME, and Spireon. In addition, Flock Specialty Finance helped attendees understand innovative new ways to capitalize their operations. The sessions ended with one-on-one meetings with attendees to develop a strategic action plan.”

            For operators who were unable to participate in the August session, the next Boot Camp is planned for November 8-9, 2014 – also in Monroe, North Carolina at iCars. NABD also announced it will hold a Best Operating and Compliance Practices Conference at the Hilton DFW Lakes Executive Conference Center in Dallas, Texas on January 18-20, 2015. The NABD Conferences and Boot Camps together provide specialized training on all aspects of BHPH operations. “We have moved our next event to January, 2015 rather than holding it just prior to our National Conference (in May at Las Vegas) as we have in the past,” Shilson explained. “This will minimize the length of time attendees must be away from their respective operations to gain this important training.”

NABD also announced that it will hold its 17^th Annual National Conference at the Wynn Las Vegas, May 19-21, 2015. For more information or to register, call 832-767-4759 or visit the NABD web site at www.bhphinfo.com.

 

NABD is the only used car special interest group exclusively for the self-finance industry. Membership is open to anyone in the BHPH industry and to service providers. Members pay no dues.