The BHPH Morning Show

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...

BHPH dealer Tommy Brandis (PA) joins to discuss his method of tracking static pools (segmented portfolio performance). He's used the same method for decades. On this live Monday broadcast, we'll share on the screen his layout as he explains how he uses the information to improve his business. Plus, as Executive Director of the Mid Atlantic IADA, Tommy will share details about their upcoming covent...

Quite a week over here! Hosted three V8 Dealer Group meetings. Lots of numbers, lots of conversations between dealers. On this Friday broadcast, we'll recap some of the hot topics which included things like hiring, reinsurance (yes or no?), down payments, service (esp recon vs customer work) and, of course, sales volume. Find the BHPH Morning Show on Video (Live or Archived) Find the BHPH Morning...

[LONG POST WARNING] It's time to go a step further. On past White Hat Wednesday broadcasts, we've asked the question of dealers: "Who owns the data that is managed by your DMS? And where is it held?" Today, we are asking BHPH and LHPH dealers to supply us (WHW's attorney) with a copy of their DMS and CRM contracts. It's all part of an ongoing mission to first make certain that sensitive customer d...

It's mid-month. On this Monday episode, we'll take a look at July numbers versus June - sales counts, down payments, repos/charge-offs, etc. How was your July? Grab your numbers and see how they stack up against our pool of #bhph and #lhph dealers. 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...

It seems to be a hot topic on the social media threads. Lots of dealers and managers asking if repos are on the rise. Anecdotally, the answers would suggest that portfolios are tanking and that repos are on the rise. On this Friday broadcast, we'll look at ACTUAL 2024 data across multiple states. Find the BHPH Morning Show on Video (Live or Archived) Find the BHPH Morning Show LIVE on YouTube , Li...

I grew up on a farm and ranch in western Oklahoma. Hunting and fishing was a big part of my life. Then, in my early days of entrepreneurship, I owned a sporting goods store - camping, guns, ammo, etc. It was common to have "tire kickers" in that business too. On this White Hat Wednesday episode, I'll share the "30-06 story" and how some shooter's preferences back then tie to what I see and hear in...

On this Monday broadcast, we'll share some 6-month averages from BHPH dealers across multiple states. Among the figures will be price, gross, cost, cash-in-deal, avg payment, term, etc. We'll also show the ratios of many of these graphically. Tune in LIVE at 11am EDT to ask any questions via chat, or catch it on replay at your convenience on Facebook, LinkedIn or YouTube. Find the BHPH Morning Sho...

Now having advised dealers launching in BHPH & LHPH in dozens of places across dozens of years, we've witnessed successes and failures. On this Monday episode, we'll share the top mistakes and offer tips for avoiding the most common hazards. 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 11a...

Thurs, August 1st. 4:40 eastern. One east-coast dealer has expansive management reports ready to view! Inventory, sales, collections and porfolio performance, receivables - all with KPIs and graphs. Recieivables balanced to the nearest dollar? Check. Collections detail? Check. Deal structure and analysis? Check. Data visualization and trend analysis with colorful bar charts, line graphs, etc. Chec...