Buy Here Pay Here

Auto Dealer Training
Private One-On-One Training

"Get the Training You Deserve!"

From the Desk of George Dean....

"Ready to get your dealer license & open a used car business? Whether its a retail car lot, a wholesale operation, or an auto broker business, you NEED "hands on" training from an experienced professional car trainer. This business is NOT brain surgery but there is a TON of things you NEED to know COLD.

At the risk of sounding rude, let me be blunt. Do NOT start this business without the proper training - you will most likely fail within the first year without it. Heck, most businesses fail within five years anyway and just image starting a business WITHOUT the right training! It would be like wanting to learn to swim and just jumping into the deep end without an instructor. You might learn to swim, but you might die too!

I have been training new guys in the used car business for 10 years. Ask anyone I trained and they will tell you its the best investment they ever made. You and I will do training at a live dealer auction here in Dallas (up to five separate times over a six month period) and possibly at your home auction once you are licensed. I will help you do site analysis, get your dealer license, get bonded & insured, set up your dealership, ramp up your inventory, establish relationships with other dealers/wholesalers, and a lot more. You will learn how to inspect and appraise cars. You will how to buy cars cheap and sell them easily for a nice profit. You will learn all about floor plans, financing, detailing, ... everything you need to set yourself up for success!

HOWEVER, I only accept FIVE (5) intelligent, motivated, capitalized, self starters into my "Fast Track" SIX MONTH auto dealer training program! No lazy dreamers allowed - even if you are a rich lazy dreamer! Only after you fill out the application (don't miss the deadline) and after a successful phone interview will you be allowed into the training program. Number One, I MUST believe you will be successful!

My crazy guarantee requires I select only the very best candidates! This program is NOT for people who "THINK" they want to be a dealer. I have seen plenty of folks FAIL in this business and fail miserably because they lacked the basic fundamental training every dealer should know! I will MAKE SURE you know it!

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Me & Mark from TN

Andrew & Charles from Houston

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What People are Saying:

George, I started my own buy here pay here lot 3 years ago and am doing well. I picked up some new tips from just your course and discovered a few mistakes I have been making! It really is easy and fun to make money selling cars. I have been doubling sales every year and if this year is no different, I expect to sell over 300 units. I hope the folks getting your course are paying attention! My experience tells me you have an excellent read and a MUST read for the beginners! Thanks!!!!" John - CA

Introduction Buy Here/Pay Here (BHPH) dealers deliver basic transportation to thousands of Americans everyday who couldn’t get it any other way. They allow people to find jobs, get their kids to school and doctors and pursue their version of the American Dream. What a great story. Usually cash is king BUT in the BHPH business CREDIT/CASH FLOW is king!

They are in every town. “We finance” “Your job is your credit” They serve an important service to the community. They sell cars to people who could never get financed at a traditional dealership. However, this service is at a price, a BIG price. They will pay high interest rates, usually at the maximum state limit. Around 18 - 22%!

I have one friend who owns a “But Here/Pay Here” lot (also called a "Note Lot") in Texas. He has 300 people bringing him $40 a week. That’s $12,000 a week. That’s serious cash. It takes years to build the business to that level. He has MANY repeat customers and tons of referrals because he treats his customers “right”. In fact, if the car breaks, he fixes it with NO up front cost to the customer. He just creates a new note and collects it at the end of the car note! This makes the customer SO happy. Plus the dealer keeps collecting weekly payments! He is in the business of collecting payments (also called notes. Hence the name, Note Lot), not making repossessions.

Your goal is to get many people paying you each week. After you sell the car, you have to get them to keep paying you (that is the tough part of the business – the collection part).

Some topics that will be cover:

Start Interrupt Systems
How to reduce default rates to 2 - 4%
How to interview the customer properly - Key!
RFC's
Who makes the financial decisions
Repossessions
Associations of join
and more...

The Basic Mechanics of a Note Lot The cash flow is incredible. And the financial risk is relatively low. The return on investment can range from 60% - 80% with a 25% repossession rate.

You buy a car for $500 and get $500 down. You get all your money back! (If you only get $300 down – you are putting $200 ‘on the street’ also known as Cash in Deal.) And you collect $40 a week for 100 weeks. (If they loan is paid off in full, you will net over $3500!) And if you have 100 people paying you $40 a week, that’s $4000 a week! Not too bad!

If you want to do it right, you need $50,000 - $300,000+ for inventory. Or you need good enough credit and a business plan to borrow it.

You will need a great location with lots of traffic. Have an average inventory of 30 – 40 cars. My recommendation is to buy cars for $300 - $2000 each, thus you are putting as little money as possible "on the street". Retail the cars for $995 - $4995. Of course, you COULD always sell more expensive care but I don't recommend it.

Remember though, once you run out of money, you are out of business. You must calculate your capital requirements til you break even. This is when the cash flow will start to pay for the business. Til then, you need sufficient cash to keep yourself in business or you will sell yourself right out business!

There are a few finance companies that will buy all the “paper” you can create. Of course, that comes at a price. They will buy the loan at a 40% discount BUT at least you get some working capital out of the deal. Some BHPH lots create their own RFC (Related Finance Companies) which we will cover in the study course.

The BHPH business is not really the car business – it’s the consumer finance collection business. The car is simply the thing you finance in order to collect payments.

You do NOT need to be a car person to make this business work. It is EASY to sell the car – heck you are practically giving it away at first.

The hard part is making the financial decision to lend the money, having the ability to read people, and having a solid daily collection process. Your main job is to turn paper receivables into cash profits!

You need to be a person who can relate to the client base. Show respect and be genuinely interested in helping make reliable transportation available to the credit challenged. This is a PEOPLE business more than anything else. You are more interested in your clients future than their past.

This can be a great way to provide reliable transportation to those folks who can't afford to pay cash or enough credit to finance with a traditional dealer.

Want to learn how to run a Buy Here Pay Here car lot?

Learn more about the "Fast Track" Auto Dealer Program