The BHPH Morning Show

By prioritizing PURPOSE over profit, White Hat Way is striving to make it clear to everyone in BHPH & LHPH (dealers, clients, colleagues, etc.) that its main objective is to rally folks around a mission. To that end, the company has taken another step toward clarifying that objective. B-Corp = Benefit Corporation. White Hat Way has remitted the necessary paperwork. In short, the company must a...

Where there is trust, great things can be accomplished! In this White Hat Wednesday episode, we'll share what we've seen in the groups that we're involved in and explore the value of establishing a high level of mutual trust. 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 featured guests) talk...

In this Friday episode, we'll break down the pros and cons associated with processing repos in a certain order. We'll offer our recommendations on the sequence as guest Hugo Sanchez offers his input as a CPA. 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 R...

Cost of money is up. For those who'd like to reduce debt, we'll run through some important first-step math. And, the methods we're introducing in this Monday episode can be useful for many other elements of planning in our business of managing portfolios and cash flow. Find the BHPH Morning Show on Video (Live or Archived) Find the BHPH Morning Show LIVE on YouTube, LinkedIn and Facebook every Mon...

Spartan Financial Partner's Jimmy Rambo joins on White Hat Wednesday to discuss methods of tracking portfolio performance. We'll confirm with this widely-respected lending manager how this info can be beneficial for BHPH dealers to track in this way. 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...

Buy Here Pay Here dealer Melanie Goldman has been digging into the BHPH recon process at her Indiana dealership. Really digging in! She joins this Monday episode to share some do's and don'ts from things she's learned along the way. [Note: Melanie will be among the panelists in the "Revving Up Recon ..." session at Thursday's Virtual Dealer Roundup] Find the BHPH Morning Show on Video (Live or Arc...

What did we learn this week? What are the pressing questions and issues from the world of Buy Here Pay Here and Lease Here Pay Here? In this Friday broadcast, we'll recap some of the important threads from social media. 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...

Transparency is a pillar principle with us. To that end, what we DO means more than what we SAY, especially when our used car industry has a perception problem that is often associated with unkept promises and incomplete disclosure. 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 wher...

Matthew McConaughey recently played a role on this subject of today's data "gold rush." A year before his commercial was released, we raised the question about possession of data in our BHPH/LHPH industry. Today, in talking about the "new frontier" of data, we'll speak more to the matter of data protection and what we'll call "beneficial use." And, we'll examine how it looks to 'play nice' in the...

Earlier this week, Sam Epstein posed the following question in the private BHPH Success Facebook group: "If you had to restart today how much levered free capital do you think you would need for a high likelihood of success and low likelihood of failure? Assume average expenses in an average metro area. $250k, $500k, $1 million, $2 million? For this example you could use leverage but obviously the...

In BHPH & LHPH, it happens too often. When a customer experiences a major setback with the collateral - wreck (insured or not), major mechanical problem, even theft - both dealer and customer are left in a difficult spot. In this Friday episode, we'll offer some important tips on negotiating a suitable "deficiency resolution" and ways to save the customer even when the car is lost. Find the BH...

We're business advisors. As such, we don't take coaching lightly. Now, on the day after the NFL's "final four" games, we'll talk about the coach speak, Instagram's meant-to-be-inspirational memes, etc. We'll talk about how coaching is different than cheerleading and armchair quarterbacking. We may even share some bad advice stories. On this episode, we'll do our best to help differentiate between...

Last week's Ohio client, Phil Klima, shared what a mentor emphasized to him early in his life of entrepreneurship. Paraphrased, it's that business operators would be well-served to pay for speed. Others have said as much to us in different ways. While we've always said it is a mistake to move too fast in BHPH & LHPH, this idea of "velocity" deserves some oxygen. Find the BHPH Morning Show on V...

Before these two young dealers ever heard of White Hat Way, they made a simple decision - to do the right thing and make a difference where they could. In watching them conduct business, we've seen them step up again and again to be good neighbors. They truly care about their customers, their teams and the communities they serve. At White Hat Way, we are pleased to recognize this year's recipients...

Phil Klima dabbled in Buy Here Pay Here in the past. Now, he is making BHPH a significant part of his financial future. On the final day of our setup & training visit, Phil joins to talk about how he may (or may not) view the business of in-house financing differently. Find the BHPH Morning Show on Video (Live or Archived) Find the BHPH Morning Show LIVE on YouTube, LinkedIn and Facebook every...

It's much more than a phrase. What can/will White Hat Way mean for dealers in BHPH/LHPH (and other industries) as it unfolds? On the heels of a recent blog post on the subject, we'll take listeners on a journey into the hearts and minds of those who will make up the community in the not-so-distant future. Bring your imagination and join us! Find the BHPH Morning Show on Video (Live or Archived) Fi...

Most every Buy Here Pay Here DMS will accommodate side notes. For any not familiar, side notes are like "extra" personal loans made by the dealer or finance company/lienholder, most commonly associated with repairs to the collateral. But should dealers be making loans of this type? What are some alternatives? Find the BHPH Morning Show on Video (Live or Archived) Find the BHPH Morning Show LIVE on...

Brent Carmichael, widely-respected 20-group moderator with NCM Associates, returns - this time to talk overhead in Buy Here Pay Here. He and his dealer groups use multiple metrics to analyze overhead. How much is too much? What is the benchmark? On the Friday broadcast, we'll break down the most relevant numbers. Don't miss this one! Find the BHPH Morning Show on Video (Live or Archived) Find the...

It's time. Dealers deserve more and better solutions for things like data management and analytics, peer groups, etc. On this White Hat Wednesday, we'll share some of the feedback we've received in recent months and how WHW is playing a leadership role in kickstarting solutions. Find the BHPH Morning Show on Video (Live or Archived) Find the BHPH Morning Show LIVE on YouTube, LinkedIn and Facebook...

Some capital providers and lenders will require a business plan in order to provide funding. Private investors and potential partners will surely expect to see one. But, where is the best place to start? In this Monday episode, we'll reveal the best place we've found! It's affordable and much easier! Find the BHPH Morning Show on Video (Live or Archived) Find the BHPH Morning Show LIVE on YouTube,...

For portfolio performance, there's a problem with leaning too heavily on Collateral Recovery Rate (CRR), at least in a BHPH world where simple interest is most common. In today's episode, we'll break down the CRR formula (again) and compare it to results from a longer-term roll-forward. Find the BHPH Morning Show on Video (Live or Archived) Find the BHPH Morning Show LIVE on YouTube, LinkedIn and...

Texas' IADA Executive Director John Frullo joins this White Hat Wednesday on the week that Jim's article on "The Truth About Trust" is scheduled for release in the Association's Texas Dealer Magazine. Other friends of White Hat Way will also add to the conversation including Tim Byrd (WHW Founding Sponsor), Karen Kane Barnett (WHW Ambassador), Nebraska dealer Candice Price, Mid Atlantic Executive...

From our vantage point, 2024 looks to be a year of prosperity in the Buy Here Pay Here (BHPH) and Lease Here Pay Here (LHPH) segment of auto financing. 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 featured guests) talk #buyherepayhere #b...

There are years that are uneventful - humdrum. Not 2023, at least not for us! It has been a year of setbacks, epiphanies, progress, team-building, breakthroughs, and many firsts! As we think about our year, we can't help but think bout the many business owners we work with who have faced or are now facing similar journeys. The lessons we've learned this year can be useful to many who are slugging...

In this brief, Christmas-day episode, we announce our gift to Buy Here Pay Here (BHPH) and Lease Here Pay Here (LHPH) dealers. [Spoiler Alert: It's a VETTED and PRIVATE Facebook group for Dealer Principals Only. No vendors, managers, etc. As we explain on video, it's meant to serve as a platform allowing dealers to speak only to other dealers. Invitations will be going out after the broadcast and...