Are there any TRUE BHPH (carry paper)dealers out there ?

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Re: Are there any TRUE BHPH (carry paper)dealers out there ?

Postby combs.3602 » Sun Jan 25, 2015 12:06 am

Who are you jbrash ? :) Welcome aboard. I have been doing this since I was a kid. I don't know anything else,ha! :D Let me know if you have any questions, I will try to help out. Dennis Combs combscarcorral.com Boise/Nampa,Idaho
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Re: Are there any TRUE BHPH (carry paper)dealers out there ?

Postby ahershey.8641 » Fri Jun 26, 2015 9:28 pm

We are a true BHPH in the Cleveland, OH area. We utilize an RFC. We use a 30% discount. We currently have @800 accts and close to $7m on the books. We run around 9% rolling avg 1 day delinquency and charge off approximately 1% of our portfolio per month.
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Re: Are there any TRUE BHPH (carry paper)dealers out there ?

Postby combs.3602 » Mon Jun 29, 2015 10:25 pm

Hello A Hershey :) Good to hear from you. You must sell very late model cars to have such a large balance with only 800 accounts ? Or, are you counting your unearned interest ? Unless I read that wrong you are showing about $9000.00 per BHPH account. We have about 1500 accounts but the principle balance is close to 7mil. An RFC is a good idea/tool, we use one as well. It requires a lot of maintenance, but if you have your in house accountant handle the details, it runs fairly smoothly. Thanks for your input. :) Dennis Combs combscarcorral.com Boise/Nampa,Idaho
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