The BHPH Morning Show

On this White Hat Wednesday episode, we'll explain how some recent emails inspired us to bring around the subject of overselling. Car dealers can certainly pay a price for that. So can coaches, vendors, etc. Join us at 11 eastern as we talk #trust, #transparency and #customerretention. Find the BHPH Morning Show on Video (Live or Archived) Find the BHPH Morning Show LIVE on YouTube , LinkedIn and...

Was it worth the trip to New Orleans? We're hearing 'YES!' from lots of folks! On this Friday broadcast, our guests include attendees Rudy Enriquez (TX), Elisabeth Lindsey Taylor (KY), Adrian Bueno (UT), and business partners Ysmael Bouchard and German Jackson (FL). Join the LIVE podcast at 11 eastern as we ask about their top takeaways and overall perspective on this BHPH/LHPH-specific educationa...

Heard of "phantom" profit in BHPH? It's a known factor and one that presents challenges for dealers in measuring their level success. On this White Hat Wednesday episode, we'll demonstrate the most common 2-piece method for assessing profitability in this business. Find the BHPH Morning Show on Video (Live or Archived) Find the BHPH Morning Show LIVE on YouTube , LinkedIn and Facebook every Mon, W...

As we close out the first full week of November, we'll recap news from around BHPH/LHPH and share some of the key sales figures coming in from October. And, as time permits, we'll offer our perspective on what Tuesday's Trump win might mean for consumers and the auto industry overall. Find the BHPH Morning Show on Video (Live or Archived) Find the BHPH Morning Show LIVE on YouTube , LinkedIn and F...

Words. They matter. In our world of Buy Here Pay Here and Lease Here Pay Here, the right words can earn the sale or collect the payment. On this White Hat Wednesday broadcast, we'll offer up some phrasing and teach listeners how to answer FAQs the 'White Hat' way. Find the BHPH Morning Show on Video (Live or Archived) Find the BHPH Morning Show LIVE on YouTube , LinkedIn and Facebook every Mon, We...

For dealers doing BHPH (not LHPH), adding a Related Finance Company (RFC) is a very common strategy for deferring income tax. Plus, there are lots of other benefits that dealers enjoy in that structure. Not sure if you need one? Or are ready for one? Tune into this Friday broadcast to find out! Find the BHPH Morning Show on Video (Live or Archived) Find the BHPH Morning Show LIVE on YouTube , Link...

Looking to grow your BHPH or LHPH business? Here's a rarely-discussed suggestion: identify your ideal customer! Then, get laser-focused on the needs and motivations. Collectively, who are they really? And through what lens do we currently view them? Find the BHPH Morning Show on Video (Live or Archived) Find the BHPH Morning Show LIVE on YouTube , LinkedIn and Facebook every Mon, Wed, & Fri at...

Repos were a hot topic this week in the social media groups. In particular, one thread brought out lots of advice and opinions. Not surprisingly, there was some debate about how to best measure repo losses and what is "typical." On this Friday broadcast, we'll move beyond guesswork and approximations by looking at actual validated 2024 numbers from the V8 Dealer Groups. Tune in LIVE at 11 EDT to s...

It's a common thread: "If we could recon more, we could sell more." Or, "Recon coninues to be my primary bottleneck." On this Friday episode, we're going to lay out some concrete ways to push past this problem and shorten that elusive time-to-line target. The strategy we'll share won't be adopted by everyone but it definitely works! Maybe you'll become the next to put it in motion ... and increase...

On this White Hat Wednesday, we'll share the latest actions and responses from the DMS providers as we revisit the request we made in June. Called the "White Hat Way Portfolio Summary Report," we proposed a layout and explained the importance. We also asked them to make it available to ALL of their users at no additional charge. It is, after all, one of the most foundational reports that any BHPH...

On the heels of the Policy Conference in DC, we welcome Jeff Martin to this LIVE Friday broadcast. As the CEO of the National Independent Auto Dealers Association (NIADA), he particated in the annual event that brings used car dealers and their lobbyists together with lawmakers. We'll be asking Jeff to recap this year's event and the issues that were floated. Then, we'll turn to the upcoming BHPH...

At the time of this airing, Thanksgiving is 50 days away and Christmas is just 77 days out. There is ample time to develop a plan for lessening both delinquency and stress during the holiday strectch. Of course, the stress can be felt by 1) your hard-working customers, 2) your devoted collections team and 3) the dealer seeing smaller bank deposits. On this White Hat Wednesday, we'll offer some use...

Some in BHPH and LHPH get "married" to their business model or pricing deal structure. On this Friday broadcast, we'll offer up some new perspective based on actual data from 5 dealers. In particular, we'll be looking closely at cash yield against initial risk by applying each dealer's historical portfolio performance to their average deal structure. Find the BHPH Morning Show on Video (Live or Ar...

Change can be difficult. Many resist it. But, when the current path is NOT working, making the necessary changes and adaptations can be as simple as musterng the courage to act. On this White Hat Wednesday episode, we'll offer some suggestions on how to 1) know that it is time for change and 2) confirm that any adjustments are producing the desired result. Find the BHPH Morning Show on Video (Live...

In recent client meetings, the need arose to illustrate the affordability factor on aging inventory. Then, upon presenting the newly-created tool to a group of newcomer dealers, it became clear that others could benefit from seeing the impact of changing those "inside the box" numbers that BHPH dealers work with every day. The tool can be a useful training aid and might even be presented to custom...

We know lots of folks in this industry of BHPH and LHPH. Not everyone does. Some don't know about vendors, partnerships, affiliations, etc. On this White Hat Wednesday, we'll recap an actual conversation with a seasoned dealer that occurred just yesterday and how that dealer's reaction highlights a fixable problem when it comes to mentions, referrals, etc. White Hat Wednesday episodes of the BHPH...

Once your BHPH customer files bnkruptcy, some important laws kick in. Well-known industry attorney Steve Levine joins this Friday broadcast to share some critical dos and don'ts to keep dealers out of trouble. Tune in LIVE to ask your questions via interactive chat. New(er) to BHPH? See you there at 11 EDT! LHPH too! Find the BHPH Morning Show on Video (Live or Archived) Find the BHPH Morning Show...

Some recent conversations with dealers highlighted the importance of trust in BHPH/LHPH, especially when it comes to underwriting and approvals. On this White Hat Weds, we'll examine the many layers of this subject including 1) verification, 2) judgment - good and bad 3) playing the odds and much more. Find the BHPH Morning Show on Video (Live or Archived) Find the BHPH Morning Show LIVE on YouTub...

When it comes to cash flow vs equity, dealer Ben Clifford chooses positive cash flow every day! He has for many years and the approach continues to produce "spendable" dividends. This Friday conversation promises to be an interesting one. Check the comments for a recent meme he shared that perfectly expresses his view and what kind of discussion viewers can expect. Find the BHPH Morning Show on Vi...

Despite the efforts of many well-intended folks, significant problems remain when it comes to access to "proper" education in the Buy Here Pay Here industry. There is far too much to learn about the business of automotive self-financing to rely on social media threads. So many dealers are paying a heavy price in the form of costly - and often avoidable - mistakes. On this White Hat Wednesday, we'l...

Let's dig deeper. In an effort to bring together past conversations around deal structure, amount riding, negative equity, etc., we'll dive deeper into portfolio performance and projected cash flows in Buy Here Pay Here (BHPH). Join this Monday broadcast to ask your questions LIVE at 11 EDT. Find the BHPH Morning Show on Video (Live or Archived) Find the BHPH Morning Show LIVE on YouTube , LinkedI...

How much cash does it take to reach positive cash flow in a typical Buy Here Pay Here startup? On this Friday broadcast, we'll use actual 2024 results for the financial assumptions. We'll then break down the splits on incoming and outgoing cash. You've not seen this crucial info illustrated quite like this. Join us 11am EDT to ask your questions via live chat. Find the BHPH Morning Show on Video (...

We've all heard the expression "good faith." But where did we learn what it is? Who provided the definition? In our industry of Buy Here Pay Here (automotive self financing), there are lots of places that the expression might be thrown around. On this White Hat Wednesday broadcast, we'll focus on the context of good faith in the relationship between dealer-creditors and their consumer-borrowers as...

It's Friday! Join us as we recap the happenings around our world of automotive self-financing. We'll cover hot topics from conversations with dealers, vendors and industry associates. Find the BHPH Morning Show on Video (Live or Archived) 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 feature...

Oh, sure, the software sales folks are nice. They say all the right things. Match made in heaven, right? But what if the promises fall short? What if your new partner doesn't prove to be as supportive as you'd hoped and you find yourself falling out of love? Now what?! Will a custody battle ensue over the data? Who owns it? Was there a pre-nup? Find the BHPH Morning Show on Video (Live or Archived...