I opened a small dealership and need guidance on operating a BHPH system, car brokering, and financing options. Practical tips for boosting my one-man venture are welcome.
Hey Samuel, congrats on kickstarting your dealership! I’ve been following the trends closely, and I think a key point for BHPH is setting up a solid credit screening process. It’s increasingly important to do this carefully, especially with interest rates bouncing around these days. I’d even consider a bit of automation to help filter applicants, so you can focus on building relationships rather than crunching numbers manually.
For car brokering, I’ve noticed that having a diverse network of both lenders and wholesale suppliers can be a game changer. Many small players are now tapping into subprime loans, but regulations are tightening, meaning you might face some bumps. It pays to stay agile with lender strategy and possibly even device alternative financing options on the fly. Just a thought: maybe starting with a few pilot deals could give you a feel without over-extending.
All the best in your venture!
Hey Samuel, joining the small dealership club must be a wild ride! I’ve been piecing together my approach by keeping things as streamlined as possible. One thing I’m exploring is really nailing down a simple, clear process for resolving defaults and late payments—trust me, having a plan in place from the start can cut out a lot of stress later. Also, with car brokering, I’ve found that it helps to keep your circle tight. Instead of trying to network with every guy on the street, I’ve been working with a handful of local contacts who know what’s what. It isn’t a magic bullet by any means, and sometimes the paperwork and legal stuff can get a bit messy, but taking the time upfront to sort things out makes life easier when deals start to pile up. Not claiming to have it perfectly figured out, but that’s been my rough blueprint so far. Good luck and hope you find a rhythm that works for you!