localmotors1.7065 wrote:Congratulations. Buy here pay here is not for everyone but if you are willing to do it correctly it can be very rewarding. I find that the NABD is a great source for info and they have a great conference i would start there. We have been in business for 24yrs and carry our own contracts> John w pinckard local motors inc.
combs.3602 wrote:Hi Mike - I also congratulate you ! Where is your store ? Like John said 'BHPH isn't for everyone'.I have been in business since 1973,have had 10 BHPH stores in 2 states,85 employees, with nearly 10 mil in receivables.I am now down to two large BHPH stores.You 1st need to understand the cash requirements.BHPH conference is probably a good start,although I have never attended one.I believe you can attend all of the conferences you want but if you don't have the cash, it won't help.If you look up one of my posts early on it will describe the cash needed to start.The two biggest cash draws will be inventory purchase and income tax payment.You will also find posts on creating your own RFC(related finance company)to help reduce the tax liability.Don't think for a moment that the RFC will save you.It will Help but eventually you will pay the tax, or have a repo.If you cant find it ,post back and I will write the BHPH theory again.Read my post on 'Are There any True BHPH Dealers out There'. Dennis Combs combscarcorral.com Boise/Nampa,Idaho
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