It’s Beginning to Look a Lot Like Christmas
Brent Carmichael shares some tips with BHPH dealers to get sales and payments in December, typically the most difficult month of the year.
Brent Carmichael shares some tips with BHPH dealers to get sales and payments in December, typically the most difficult month of the year.
Greg Goebel - The landscape of the special finance market is changing, but this time it’s changing in a way that could benefit dealers. The near-prime customers of today aren’t the same as they used to be. Among near-prime buyers, average interest rates have dropped, the average loan term has grown and average monthly payments have increased. Read on to discover what’s behind these changes and how the rest of the subprime spectrum has changed in the past year.
J.D. Rucker - Although it’s been contested, buy here pay here dealers can reap rewards of a search engine optimization strategy. A BHPH SEO strategy should be credit-focused and aim to push any negative reviews, complaints and third-party lead-generators that could be taking your business down in the organic search engine results.
Allen Dobbins - Many dealers have issues with software and its compliance. The unique thing about software and compliance is that they touch virtually every aspect of a business. There are some important steps you can take to safeguard your business when it comes to compliance issues.
Thomas B. Hudson - When the buyer listed on a retail installment sales contract is someone other than an individual (i.e., a corporation, partnership, association, etc) or when the primary use of the vehicle is for business use, many claims and defenses the buyer might otherwise have against the dealer evaporate.
Jennifer Murphy - Rosen Automotive Group, based in Gurnee, Ill., goes to great lengths to maintain compliance within the nine-operation dealership group. After trying to maintain 100-percent compliance in-house, Dealer Saul Rosen realized the huge task it was and commissioned an outside consultant dedicated to keeping his stores compliant.
Since the Internet has changed the car-buying experience, Author Greg Wells explains why and how dealers should alter showroom processes to create better relationships with customers.
David Keller - Following are some basic policies and procedures you should have for your accounting department to be compliant with good internal accounting controls—including properly segregating duties, adjusting of journal entries, reviewing of cash disbursements, archiving cash receipts and authorizing of purchases.
Auto Dealer Monthly offers a brief look at one of the many compliance issues auto dealers must contend with, the Gramm-Leach-Bliley Act. Please note, this is not legal advice and dealers should always seek the assistance of qualified legal counsel.
Auto dealers have many different laws, rules and regulations to contend with. Here is a summary of one of those very important compliance issues, adverse action notices. Please note, this is not legal advice and dealers should always seek the assistance of qualified legal counsel.
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