When business is slow it can be tempting to lower your underwriting standards to get another deal on the board. This is never a good idea, whether it is done during your busy season or your slow season. Many of us make the mistake of chasing business when times are slow. Instead concentrate on making
BHPH Dealers should always ask for the total amount due from every past due customer, including late fees. By not collecting late fees you are educating your customer that it is acceptable to pay late. But if late fees are consistently charged anytime a payment is made after the grace period, you will be encouraging
Cash flow is the lifeblood of a BHPH dealership. During tax season, the increase in sales puts a large strain on available cash. Often dealers turn to selling receivables to replenish cash reserves. This short term fix results in the loss of the dealer’s best customers and a degradation of the portfolio. AMAC’s BHPH In
AMAC CEO, Russ Algood was recently interviewed by the BHPH Report, with “4 Questions with Russ Algood of Ace Motor Acceptance”, click HERE to read the full article.