The BHPH Morning Show

In Santa hats, we briefly announced on Christmas day the (vetted and private) Principals-only Facebook Group as our gift to dealers. The group is active and the dealer-to-dealer dialog has begun! In this White Hat Wednesday episode, we'll further explain why we believe White Hat Way can serve as a good "gatekeeper" for such an undertaking and how dealers can benefit from having a place to speak fr...

For some dealers in Buy Here Pay Here (BHPH) and Lease Here Pay Here (LHPH), repairs as a condition of the sales and post-sale "goodwill" repairs can be a big drain on the bank account. In this Friday episode, we'll offer some tips on how to limit the spending in those areas. Find the BHPH Morning Show on Video (Live or Archived) Find the BHPH Morning Show LIVE on YouTube, LinkedIn and Facebook ev...

It's an interesting line we walk in the Buy Here Pay Here business. Naturally, most dealers want to help their customers. Some struggle to close the flood gates once they've been opened. In this White Hat Wednesday episode, we'll offer ways to maintain that delicate balance between customer service and cash management, all while continuing to be viewed as that "good guy" or "good gal" in the commu...

Guest Fred Lennartz joins to discuss his recent article in NIADA's BHPH Dealer magazine on the ways artificial intelligence (AI) has, is, and will impact the used car industry. We explore the ways that BHPH dealers can expect to enjoy efficiencies and and other benefits from harnessing these powerful new tools. Find the BHPH Morning Show on Video (Live or Archived) Find the BHPH Morning Show LIVE...

Brent Carmichael, the well-traveled 20-group moderator, consultant and trainer, joins to share his perspective on recent development in the industries of Buy Here Pay Here (BHPH) and Lease Here Pay Here (LHPH). After 15+ years with NCM Associates, Brent's expertise is unquestioned. Join this Monday broadcast at 11 EST to ask your questions of the guy who has been moderating multiple BHPH dealer gr...

d live 3 hours ago What collectors say (and HOW they say it) can be the difference between getting payment commitments and, well, something much worse. Expert coach Maggie Pugesek with C&M Coaching returns to recap actual collector calls and offer tips for making a better connection enjoying more "customer success. Find the BHPH Morning Show on Video (Live or Archived) Find the BHPH Morning Sh...

]Note from Co-host Jim Rhoads: I failed to mention during this live broadcast that dealers who offer leasing do NOT experience the same impact from sales tax and income tax. For clarification, please contact me directly at jim@whitehatway.com] Versus retail, we know prices have to be higher in the Buy Here Pay Here (and LHPH) sector. Clearly, there is more risk. In this Monday episode, we will unc...

What numbers should BHPH and LHPH dealers watch and expect when it comes to lead conversion and closing ratios? What are some ways to improve results and win more sales? Two Buy Here Pay Here dealers, Casey Litaker (NC) and Nathan Syme (AL), join to share their experience and the challenges they've encountered in tracking and managing lead flow. Find the BHPH Morning Show on Video (Live or Archive...

As we know in finance, a lead or prospect is not the same thing as an applicant. In this White Hat Wednesday episode , we'll review recent Facebook poll results and offer an approach that can result in more and better sales. We'll also differentiate between applicant qualifications and "approvable" deal structure. Find the BHPH Morning Show on Video (Live or Archived) Find the BHPH Morning Show LI...

Is your BHPH/LHPH portfolio performing well? If so, by what measure? Delinquency is definitely not the best indicator. In fact, it's not even in the top 4 of our suggested Key Performance Indicators (KPIs). Tune in to this Monday episode to learn which numbers we find most relevant, regardless of portfolio size. Find the BHPH Morning Show on Video (Live or Archived) Find the BHPH Morning Show LIVE...

Looking for more clicks and apps? Guest Anamaria Beck joins to talk Facebook and social media advertising. As a digital marketing expert who works with Buy Here Pay Here dealers in multiple states, Anamaria can offer important tips for winning more customers through the social platforms. Find the BHPH Morning Show on Video (Live or Archived) Find the BHPH Morning Show LIVE on YouTube, LinkedIn and...

Called the "Buyer's & Seller's Pledge," this new form is meant to be a short pre-closing agreement to help start the business relationship from a place of commonality and trust. For dealers who wish to do business in this way, the B&SP will open the conversation and express intentions (both ways) more clearly. Join this White Hat Wednesday episode to share your thoughts. Find the BHPH Morn...

About to write bonus checks for Christmas? How about rewarding longevity and doing something to reduce employee turnover in your BHPH or LHPH operation?! In this Friday episode, we'll offer some last-minute suggestions on ways to tie those checks to long-range performance and make the recipients stick around for next December's check!!! Find the BHPH Morning Show on Video (Live or Archived) Find t...

Another domino! Who is it?! Join this 74th episode of White Hat Wednesday as we introduce the 3rd Founding Sponsor of White Hat Way. Like the first two (LHPH Capital & DealerRE), this company continues to carry an impeccable reputation after decades of serving and supporting the BHPH/LHPH industry. Founding Sponsors of White Hat Way are pledging financial support and other resources to the adv...

CPA and BHPH specialist Steven Carstens with SGC joins this Monday episode to discuss the rapidly shifting capital market. What does all of it mean to Buy Here Pay Here dealers and their ability to access credit, sell paper, etc.? Steven will share his perspective on the factors in play. Find the BHPH Morning Show on Video (Live or Archived) Find the BHPH Morning Show LIVE on YouTube, LinkedIn and...

CPA and BHPH accounting expert Hugo Sanchez joins to talk RFCs before the close of 2023. For most, it's not too late for adding a Related Finance Company (RFC) as part of an income tax deferral strategy. Others who have one might want to make some adjustments as the year winds down. Tune in Friday at 11 eastern to ask your questions LIVE of the accounting guru himself ... Find the BHPH Morning Sho...

Karen Kane Barnett joins this White Hat Wednesday as we chat about the future of White Hat Way. As the first WHW Ambassador, Karen will add her perspective as Michelle and I present the "Vivid Vision" [Credit: Cameron Herald] of White Hat Way. We'll apply our own 10-year approach to our own mission and attempt to paint the picture of White Hat Way a decade down the line. Find the BHPH Morning Show...

How much risk is too much? How much reward is appropriate for the amount of cash exposure? In this Monday episode, we'll go to class and do some math. We'll look at some actual October results to help viewers decide for themselves. Find the BHPH Morning Show on Video Find the BHPH Morning Show LIVE on YouTube, LinkedIn and Facebook every Mon, Wed, & Fri at 11am eastern where we (Jim and Michel...

More franchise dealers will be adding Buy Here Pay Here to their offering in the coming months and years. They have some distinct advantages in doing so. We'll talk pros and cons and explain why we've heard some say "Been there, done that. Never again." Find the BHPH Morning Show on Video Find the BHPH Morning Show LIVE on YouTube, LinkedIn and Facebook every Mon, Wed, & Fri at 11am eastern wh...

How can BHPH dealers "clamp down" when customers are taking advantage and persistently running late? Familiar with a Notice of Strict Compliance (NOSC)? As non-attorneys, we think it is a very useful "last resort" notice to deliver in certain situations. Check out this Monday episode to learn what situations might justify taking this measure. Find the BHPH Morning Show on Video Find the BHPH Morni...

With just 2 weeks to Thanksgiving, we'll discuss some fun ways that dealers have chosen to give back to their customers and community. We'll also examine the value of genuine GOODWILL and why/where it matters. Find the BHPH Morning Show on Video Find the BHPH Morning Show LIVE on YouTube, LinkedIn and Facebook every Mon, Wed, & Fri at 11am eastern where we (Jim and Michelle Rhoads along with f...

Tighten up or loosen up??? Dealer guests include Justin & Mike Wallman (OH) plus Keith Thacker (KY) as we examine collections policies and reflect on recent poll results. Does the current economic climate warrant some tweaking of the policy manual? Find the BHPH Morning Show on Video Find the BHPH Morning Show LIVE on YouTube, LinkedIn and Facebook every Mon, Wed, & Fri at 11am eastern whe...

It's a changing landscape in BHPH. Dealers across the country are analyzing (and perhaps adjusting) their business policies and game plan. Dealer Seth Merrifield joins this White Hat Wednesday to discuss his decision to reduce the APR they charge to consumers. Find the BHPH Morning Show on Video Find the BHPH Morning Show LIVE on YouTube, LinkedIn and Facebook every Mon, Wed, & Fri at 11am eas...

We've seen it done well. We've seen it done poorly. There are very real hazards but there is tremendous opportunity if done right. "Stratifying" the offering makes lots of sense. Cannibalizing BHPH growth and discounting for cash? Not so much. In this Monday broadcast, we'll talk through both sides. Find the BHPH Morning Show on Video (Live or Archived) Find the BHPH Morning Show LIVE on YouTube,...

Longtime consultant Gene Daughtry joins this Monday broadcast to talk through the major shift that the BHPH/LHPH industry has navigated in recent years and where that dealers and consumers today. Heck, we might even get him to share his as outlook as a fellow consultant/advisor to dealers. Find the BHPH Morning Show on Video (Live or Archived) Find the BHPH Morning Show LIVE on YouTube, LinkedIn a...