Articles by Kimberly Long - Assistant Editor

A number of factors figure into the equation for successful collections. Auto Dealer Monthly spoke to several BHPH professionals for their insights on issues like personnel, training and use of GPS and starter interrupt devices.

At The Car Store, Dealership Owners Greg Johnson and Ed Wilgus have worked to grow their two-store BHPH operation to encompass a wider spectrum of customers. Read on to discover how they moved beyond BHPH and now work with all customers in all credit tiers.

The dealership, located in Greeley, Colo., could have easily become a casualty of the credit crisis and recession like so many other businesses. In April 2009, the bank holding the dealership’s line of credit failed and was taken over by the FDIC, freezing that line of credit.

“Dave has really exploded in the last year. His goal is one deal a day, and he comes to work to work every day. We are glad to have him as part of our team.” –Cindy Christensen, General Manager, Herbies Auto Sales

With 15 used car stores in Michigan and Illinois and about 650 employees, RightWay Automotive Credit as it exists today is a far cry from where it began.

Over the last year or so, many dealerships have dialed back their special finance operations or given up on them altogether, but not Planet Ford, a World Class Automotive Organization (WCAO) dealership in Spring, Texas.

As the end of 2009 approaches and dealers look toward 2010, it seems like a good time to take stock of the past year and look at how those in the field of special finance have adjusted their operations to stay in the game

Not many credit-challenged customers would drive by a new-car dealership that carries brands like Cadillac, BMW and Mercedes-Benz, and realize that same dealership can also help them buy a car. However, such is the case with Patterson Auto Group.

“Jay is a master of the basics with the customers and always seems to do the right thing when handling them. He also does a great job of making sure that he and his teams follow our processes consistently so that we don’t take shortcuts which cost deals.”

CarBiz CEO Carl Ritter did not set out to launch a chain of buy here pay here stores. His company began as something much different.