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COMMENTARY: Strategies for subprime market during challenging economic conditions applies to all
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Byrd: Benefits Of Offering Debt Cancellation Coverage
Tuesday, Apr. 22, 2014, 07:39 PM
Tim Byrd, Tim Byrd & Associates
There’s another one to add to the stack of lapsed insurance notifications. Another customer has decided that having insurance is not a priority. Some customers you can’t blame. The premium is higher than their car payment. You’ve hired a full-time ... [Read More]
Webb Sees 2014 Tax Season Refunds On Par With Year-Ago Level
Tuesday, Apr. 22, 2014, 07:36 PM
Nick Zulovich, Editor
With much of tax season having been completed, Manheim chief economist Tom Webb gave his assessment of how the time so critical to buy-here, pay-here operators unfolded this year. One of the points Webb emphasized earlier this month during his ... [Read More]
Newest Benchmarks Set To Summarize 2013 Industry Trends
Tuesday, Apr. 22, 2014, 07:33 PM
Nick Zulovich, Editor
For the 16th consecutive year, Ken Shilson will share buy-here, pay-here industry benchmarks as a part of what he believes are the most accurate gauge of how the industry behaved on an annual basis. The founder of the National Alliance ... [Read More]
Why Making Realistic Projections Benefits Operators
Tuesday, Apr. 22, 2014, 07:29 PM
Nick Zulovich, Editor
From job interviews to self-help books, stirring goal-oriented conversations sometimes start with the question, “Where do you want to be in five years?” In the buy-here, pay-here business, it’s sometimes difficult to project that far into the future in a ... [Read More]
Bankruptcy Filings Drop 12 Percent in Q1
Thursday, Apr. 10, 2014, 03:40 PM
BHPH Report Staff
The American Bankruptcy Institute reported that total bankruptcy filings in the United States decreased 12 percent in the first quarter compared to the same period last year. According to data provided by Epiq Systems, bankruptcy filings totaled 231,647 in the ... [Read More]
Shilson: Does More Really Equal Less In The Deep Subprime Auto Finance Industry?
Thursday, Mar. 27, 2014, 03:03 PM
Ken Shilson, Subprime Analytics
At the end of 2013 after reviewing Experian Automotive data, I wrote that losses for special finance companies in the subprime auto finance industry were trending upward sharply. I attributed these higher losses to overly aggressive underwriting “silly loans” caused ... [Read More]
AutoStar Solutions Acquisition Helps To Develop New Compliance Technology For BHPH Dealers
Thursday, Mar. 27, 2014, 02:52 PM
BHPH Report Staff
Buy-here, payhere dealership software provider AutoStar Solutions recently acquired 50 percent interest in SecureClose, a designer of innovative compliance technology. Together, the two companies are finalizing plans to provide a new tool that automates the contract closing process for dealers.AutoStar ... [Read More]
FTC Charges Arkansas Dealers For Not Displaying Buyer’s Guide On Vehicles
Thursday, Mar. 27, 2014, 02:35 PM
BHPH Report Staff
Two buy-here, pay-here operators who say they have more than 80 years of experience ended up in serious trouble with the Federal Trade Commission. Earlier this month, the FTC charged Arkansas dealer, Abernathy Motor Co., and its two principals, Wesley ... [Read More]
Braeger Auto Finance Group Offers Way To Get Investor Money To BHPH Operators
Thursday, Mar. 27, 2014, 02:31 PM
Nick Zulovich, Editor
Braeger Auto Finance Group chief executive officer David Braeger wanted to solve a problem buy-here, pay-here dealers encounter when they go to traditional banking outlets looking for an increase in funds to expand their portfolios.More money can mean the chance ... [Read More]
Inilex Names New Vice President of Corporate and Business Development
Thursday, Mar. 27, 2014, 02:21 PM
BHPH Report Staff
Inilex, a provider of intelligent telemetry solutions for vehicles, is continuing to expand its executive team with the addition of Brad Walls as the company’s vice president of corporate and business development. The company highlighted Walls brings a demonstrated track ... [Read More]