If you're like most Buy Here Pay Here (BHPH) dealers, you're wearing a lot of hats: from sales to collections, and even the occasional repo agent. Time is your most valuable (and limited) resource. So, how do you move more cars, collect more payments, and grow your bottom line without hiring more people?
The answer isn’t working harder: it’s working smarter. Check out these five ways independent dealers are using auto dealership software and modern tools to boost efficiency and profitability, without adding staff.
1. Ditch the Desk: Go Mobile with Your Dealership Software
Your Dealer Management System (DMS) shouldn't keep you chained to an office. The best BHPH software solutions today offer mobile apps or responsive web versions that let you:
Less back-and-forth between your desk and your customer, means the faster you close deals. It can also shorten the time from handshake to down payment, accelerating your subprime auto financing process.
2. Automate Payment Reminders and Past-Due Notices
Manually calling every customer for late or missed payments? That’s not scalable, especially with a smaller staff. Instead, use text payment reminder tools and GPS device payment reminders, integrated with your auto finance collections platform to:
Automated reminders reduce delinquency rates and keep customers engaged and informed. Use multiple payment reminder methods that are integrated with your collections process to automate the process while keeping your phone lines clear.
3. Use GPS Tracking to Prevent Repos, Not Just React to Them
GPS car tracking for dealers isn't just a repo tool; it’s a smart way to prevent them. Using automated collection technology with your vehicle tracking system, you can increase collections and prevent repos by:
Preventing repos keeps your customers in their cars and keeps your cash flow positive. Real-time visibility and tools can prompt payment from your customers before repossession becomes necessary.
4. Offer Remote Signing and Payment Options
Closing a deal on a single visit or appointment has a higher rate of success vs. asking your buyers to come back twice. To get the deal done in a single visit, think about leveraging electronic contract signing and remote payment platforms to:
This kind of digital retailing for car dealers speeds up deals and increases on-time payments, especially for customers with tight schedules.
5. Batch Your Time Like a Boss
As a BHPH dealer, you likely have ten fires to put out at any given time. But constantly switching between tasks wastes more time than you realize. To better optimize your time each day, try batching:
Structuring your time helps you move both cars and money faster without burning out.
Bottom Line: Use Better Tech, Not a Bigger Payroll
To grow your business, you may not need more staff, but you do need better systems. By leveraging the right BHPH software solutions, you can:
Looking to upgrade your GPS tracking or automate your auto finance collections? Book a live demo or contact us for an expert review of your business and discuss what’s working best for BHPH dealers like you.
