Do you know what CID (cash in deal) is? Its king to any buy here pay here operation. This figure it integral to every aspect of BHPH. BHPH is one of the few businesses you can actually sell yourself out of business if you don’t properly account for cash flow.
CID = ACV + reconditioning + [...]

Over the last two years, a tremendous number of formerly prime credit customers have been adversely affected by the shaky economic status of our country. You need not look any further than the United States’ average credit score, which is down almost 50 points from where it was only four years [...]

So far in 2010, my company Next Generation Dealer Services has conducted several social media seminars for auto dealers and there is a huge curiosity to learn but also some confusion. Social media is being tagged a sales tool when in reality, it is more about your bottom line!
Erik Qualman, author of Socialnomics, said “The [...]

Having a lending partner that caters to the bankruptcy niche is critical to a special finance department’s success. In fact, many bankruptcy lending specialists not only survived the downturn, but they are coming on strong this year. They pulled it off by focusing less on credit scores and looking for stability [...]

Credit availability for subprime customers is still low, but the well is not dry. In fact, there are signs that special finance is making a comeback, with the bankruptcy niche leading the way. Finance sources with an established history in the bankruptcy segment know the payoff is worth the risk. They know those consumers will [...]

I don’t believe I have posted this since my Dad (Thats his picture below) passed away on Memorial Day last May. I have shared the story with a lot of my friends but it never gets old. A friend of mine contacted me over the weekend as the History Channel was doing a show on [...]

Have you seen the commercials? Domino’s pizza is running a social media campaign saying they realize they’ve made a few mistakes in the past but are willing to listen to the public and take their constructive criticism. Then, they talk about how they made changes and then deliver the reinvented pizzas to the people who [...]

Unless you or your customer is getting a refund, tax time isn’t the most joyous time of year. Except for those individuals who filed for bankruptcy and now have trustees holding their money to pay off debts, the vast majority of special-finance customers have historically received tax refunds. That’s why it’s critical you prepare now [...]

HOUSTON — Dealer consulting services provider Next Generation Dealer Services (NGDS) has announced a series of training seminars to show dealers how to build business by utilizing social media.
The agenda for the seminars will include interactive presentations of how to properly use the most common social media marketing tools. The latest trends and technology will [...]

By Steve Finlay
WardsAuto.com, Dec 3

ORLANDO – Not yet out of the hospital, subprime auto financing at least has left the intensive-care unit.
The credit crunch that hit in 2008 hurt virtually all levels of financing. Subprime suffered the most, making it tough for people with low credit scores to get car loans.
But so-called special financing “is [...]