The Top 3 Mistakes Auto Dealers Make to Keep Them Broke

What’s up CEOs! 

Having the Auto Dealer Business School in your business can be a great advantage, as it provides access to networks, resources, and assistance. However, even with the best education and resources, auto dealers can still make mistakes that keep them from being profitable.

So let's discuss the top 3 mistakes that auto dealers make, which can lead to financial struggles.

Mistake 1 - Money Management

The first mistake that many auto dealers make is not monitoring their finances. It is crucial to keep track of your cash flow, expenses, and profits. You need to know how much money is coming in and going out, and what you have left over. Understanding your finances is critical to making informed decisions and planning for the future. This is something that is emphasized in the training at the Auto Dealer Business School, and it is vital for the success of your business.

Mistake 2 - Revenue Goals

The second mistake that auto dealers make is not selling enough...

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How to Offer Financing for Car Sales in Texas?

What’s up CEOs! 

As a car dealer in Texas, offering financing options to your customers can be a great way to increase sales and attract more buyers. However, there are specific regulations and requirements that you must follow to finance car sales in Texas. In this blog post, we'll explore how to offer financing for car sales in Texas and what you need to know to do it correctly.

First, it's important to understand the lending terms before offering financing options to your customers. Lending terms refer to the language used in the lending industry. The lenders you work with will expect you to know the language.

Next, to finance car sales in Texas, you must obtain a license from the Texas Office of Consumer Credit Commissioner (OCCC). This license will allow you to legally offer financing to your customers. The licensing process involves completing an application, submitting the required documents and fees, and passing a background check. Once you have obtained your...

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What to do when it's taking too long for your license to be approved?

What’s up CEOs! 

As you know, obtaining a license is a critical step in your journey towards success. However, the licensing process can be a frustrating and lengthy one, and waiting for approval can cause anxiety and stress, especially when it takes longer than anticipated.

It's important to recognize the impact that licensing delays can have on your business. As a CEO or entrepreneur, you need to cover expenses and generate revenue. Any delay in the licensing process can impact your bottom line, which can be detrimental to your business's success.

To combat this, the first step you should take is to calculate your burn rate. Your burn rate is the amount of money you are spending each month to operate your business. 

Once you understand how much you are burning through and how long you can sustain it, you can decide how to proceed.

If you can last for six months without any significant impact on your business, you may choose to wait for your license to be approved....

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Getting Started as a Buy Here Pay Here (BHPH) Dealer

operations revenue startup Sep 25, 2022

Hey CEOs!

This LIVE video training for auto dealers is about getting started as a Buy Here Pay Here Used Car Dealer.

You can join this video live for Q&A inside the Facebook group here:

Auto Dealer Business School is dedicated to the professional development of licensed auto dealers. Our classes and programs help to obtain a retail used car dealer license, open a dealership, buy & sell cars as a used car dealer and grow your used car sales business with high profits & happy buyers.

To get started as a BHPH Dealer, you will need…

  • The permission to be a BHPH dealer (depends on state)
  • Software to manage the customers and the cars
  • Define your program
  • Define the cars that will be sold with BHPH financing
  • How to Finalize the sale

BHPH can be challenging if the program is not run with the intention to increase paid-in-full accounts and decrease repossessions.

The NO Repo BHPH program can help startup dealers sell more cars by...

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