When bad news is good for buy-here, pay-here

Ken Shilson, NABD & Subprime Analytics

Recent press about subprime auto loan performance has highlighted concerns about this market segment. Some has said, “The Federal Reserve recently expressed concern that delinquencies among auto borrowers with weak credit has been rising.” A recent article in USA Today entitled, “It’s Tougher to... Read More

BHPH Report Staff

A Georgia man running a Virginia dealership retailing repaired salvage units pleaded guilty to operating an odometer fraud scheme involving more than 100 vehicles, according to an announcement from the Department of Justice.  Officials said last week that Paul Robinson, of Lawrenceville, Ga, pleaded guilty in U.S.... Read More

Interstate Title Solutions partners with NIADA

BHPH Report Staff

This week, Interstate Title Solutions (ITS) joined with the National Independent Automobile Dealers Association as its newest National Member Benefit partner, offering NIADA members discounted access to its out-of-state tax, title and registration tool. DMV Nationwide, a web-based tool paired with managed service, was... Read More

Webb sees BHPH dealers ‘in better position’

Nick Zulovich, Senior Editor

Cox Automotive chief economist Tom Webb acknowledged the past few years probably constituted the most difficult span ever encountered by buy-here, pay-here dealers. Finance companies specializing in the subprime space took on contracts deeper down the credit spectrum, leaving operators wondering where their customers... Read More

5th J.D. Byrider store in Missouri opens

BHPH Report Staff

Buy-here, pay-here franchise chain J.D. Byrider recently opened its fifth location in Missouri; the second one in the Show-Me State to join the network so far this year. The new location is in Rolla at 2603 N. Bishop Ave. This store is the first J.D. Byrider store for local franchise owner Lawrence West. This... Read More

BHPH Report Staff

It appears the chances a potential customer coming to your buy-here, pay-here dealership having recently filed for bankruptcy are on the rise. The American Bankruptcy Institute reported total U.S. filings increased 5 percent year-over-year in January, creating a trend not seen since the New Orleans Saints won the Super... Read More

REPAY acquires Sigma Payment Solutions

BHPH Report Staff

In a move executives say will benefit buy-here, pay-here dealerships and other participants in the auto finance space, Realtime Electronic Payments (REPAY), a full-service provider of advanced payment technology products and electronic transaction processing services for the consumer lending industry, has acquired Sigma... Read More

BHPH Report Staff

In the latest installment of the annual Best of BHPH issue of BHPH Report, we go behind the scenes with some of the leading companies in the used-car space and their top executives with a few Q&A features. Next up in this series is Susan Perlmutter, chief revenue officer at Sigma Payment Solutions. BHPH Report:... Read More