There hasn\u2019t been a better time since 2010 to be in the BHPH space, and right now, is the perfect time to learn more about the Buy-Here, Pay-Here (BHPH) model.<\/p>\n\n\n\n
NIADA is offering its BHPH New Dealer Academy<\/a> training Feb. 22-23 in Dallas.<\/p>\n\n\n\n When money is inexpensive and consumer debt is low, third-party lenders dip into the deep subprime market where our BHPH dealers live. This past year has seen a steep rise in the cost of funds and consumer debt. Without the stimulus money in the households, charge-offs are increasing across the board.\u00a0 Third-party subprime lenders feeling the effects of squeezing margins are exiting the deep subprime space, opening up the top tier BHPH customer.\u00a0<\/p>\n\n\n\n In the industry\u2019s fastest-growing segment, BHPH dealers bankroll lending for customers rather than using a third party. Dealers can make a lot of money in BHPH, while also providing a much-needed service to consumers who otherwise would not be able to purchase a car.<\/p>\n\n\n\n Whether you are a retail dealer looking to expand your business to deep subprime consumers, an entrepreneur looking for your next business venture, or a company that offers solutions to subprime dealers, the BHPH Dealer Academy offers something for all.<\/p>\n\n\n\n During this comprehensive two-day, in-person workshop, you will learn highly effective strategies for marketing, sales, deal structure, underwriting, collections and asset management. It is designed to help dealers start and grow an in-house finance program the right way.<\/p>\n\n\n\n NIADA\u2019s BHPH New Dealer Academy is an immersive class focused on the key drivers of operating a successful BHPH business.<\/p>\n\n\n\n \u201cThe information for these dealers and members will jumpstart or help them grow their business. With Ben Goodman\u2019s and my combined 60-plus years in the business, everyone will walk away with a wealth of knowledge.\u201d<\/p>\nBill Elizondo, Senior 20 Group Moderator<\/cite><\/blockquote>\n\n\n\n \u201cThe information for these dealers and members will jumpstart or help them grow their business. With Ben Goodman\u2019s and my combined 60-plus years in the business, everyone will walk away with a wealth of knowledge,\u201d said Bill Elizondo, Senior 20 Group Moderator.<\/p>\n\n\n\n In addition to new dealers, this course is a high-level overview for companies \u2014 local accounting firms and garage liability companies who wish to understand the dynamics between the dealership and the related finance company; software providers, especially service module and CRM companies who currently serve retail but would like to get better at BHPH; and marketing agencies \u2014 that would like to learn more about the business and the BHPH customer.<\/p>\n\n\n\n \u201cWe have vendor partners who are more geared toward retail but would like to learn about BHPH. This is a great class for them,\u201d said Ben Goodman, Senior 20 Group Moderator. \u201cWhile you can\u2019t learn everything about BHPH in two days, this is a great high-level overview of the key components of this very lucrative business model.\u201d<\/p>\n\n\n\n To learn about the BHPH New Dealer Academy, visit NIADA.com\/BHPH<\/a>.<\/p>\n\n\n\n\n