Low down payments???

Description of your first forum.

Low down payments???

Postby mitchs2281.12647 » Thu Jan 09, 2014 9:20 pm

I have been in business for 3 years. I keep seeing other BHPH businesses that have $399 - $699 down with really nice cars. Cars that I know they are paying $4,000 and up. How are they doing this? Is it some kind of special financing company? If so, Who can I contact to try and get special financing for my BHPH business. Thanks to all that comment.
mitchs2281.12647
 
Posts: 2
Joined: Thu Jan 09, 2014 9:10 pm

Re: Low down payments???

Postby woodards.2930 » Thu Jan 16, 2014 6:56 pm

You might like to check out CAC. We are having great success with thier program
Tammy Woodard, CMD
Woodard's Auto Sales
Nahunta GA
woodards.2930
 
Posts: 3
Joined: Fri Aug 03, 2012 2:34 pm

Re: Low down payments???

Postby combs.3602 » Fri Jan 17, 2014 12:06 am

Hi Mitch - Ofcourse there is a little bit of gaming going on,but these folks are most likely not true BHPH dealers. :D They are probably selling their contracts through someone like Westlake, etc...or literally financing through the same.Even so,Westlake and others usually require atleast 10% down.I remember a dealer in the past that sold cars for a 'Dollar' down;he would raise the price to the bank by the down payment amount,then show that amount as down on the paperwork,very illegal and dishonest.There are a few of us true BHPH dealers out there that can afford(if we want to face so much risk)to finance for smaller amounts down, but it does take a few years to get enough accounts for the strong cash flow.We are doing 500.00 down on any car for drive off(cars from 5k to 13k) and then offering a free flatscreen tv when they bring X amount of tax money in as a PIC payment.This is a very expensive and risky move on our part,but we wanted to build extra accounts. :) Good luck with your store. Thanks Dennis Combs Combs Car Corral Boise,Id
combs.3602
 
Posts: 75
Joined: Sat Aug 25, 2012 4:31 pm
Location: Nampa and Boise,Idaho

Re: Low down payments???

Postby mitchs2281.12647 » Tue Jan 21, 2014 9:35 pm

Thank you both so much for the information. I really appreciate it.
mitchs2281.12647
 
Posts: 2
Joined: Thu Jan 09, 2014 9:10 pm


Return to Your first forum

Who is online

Users browsing this forum: No registered users and 4 guests

cron