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...
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....
Getting Started as a Buy Here Pay Here (BHPH) Dealer
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: www.facebook.com/groups/dreamdealership.
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...
How to be an Absentee Dealership Owner
What's up CEOs!
This week's video training for auto dealers is how to be an Absentee Dealership Owner.
Let me start by saying I'm not an absentee dealership owner yet. That is something I want to be. I'm on a journey now to build an absentee owner foundation for my dealership so my dream can come true. I started with setting the intentions for the future of my business.
I've talked before about selling good cars and making high profits. But what does my lifestyle look like as an absentee owner and what do I do to get there?
Currently, I am very present in the day-to-day operations of my business. I actually touch every department. Nothing really moves without me, and my input or my talent or my direction or my strategy. So this is what I have learned so far on the path to being an absentee dealership owner.
Overall, I want to build wealth and have freedom, Here are the steps to becoming an absentee owner.
- Set the intention to build wealth not just make money
- ...
How Auto Dealers Sell Luxury Cars
Hey CEOs!!!
I want to share with you the process of how startup auto dealers sell luxury cars.
I haven't told the whole story about what really helped me have a profitable car lot fast. It was selling luxury cars.
Now... I had opened a new car lot. We didn't have much inventory. I knew luxury car sales are a recession-proof market and have bigger profits so I sold luxury cars to make the car lot profitable quickly.
The video above explains the process in detail.
There is also a free online workshop to help you set up the process to sell luxury cars in your dealership.
To join the workshop, go to www.autodealerbschool.com/lux.
Selling Used Cars for Lots of Profit in a Recession
Hey CEOs!
This week's FREE training for Auto Dealer newbies and owners of small dealerships is about the recession. To help you get started or to grow your business in a recession, I talk about ...
- the Recession-Proof Car Markets
- the Recession Proof Streams of Income Selling Used Cars
- How to Sell in a Recession and
- How to Build a Recession-Proof Dealership
Remember, you can always join me LIVE in real-time in these FREE training videos by joining the Facebook group here: www.facebook.com/groups/dreamdealership
Also, there are some current events in the Auto Dealer Business School you should join, like....
Join the Sales Challenge and Sell More Cars www.autodealerbschool.com/salespush
Join me in Nashville, TN at the Dealer Center Workshop in August 18th www.autodealerbschool.com/specialevent
Dealership Startup Funding Pre-Approvals - Schedule a Strategy Session www.autodealerbschool.as.me
NIADA Dashboard https://niada.com/dashboard/author/shamelleonard
Enjoy...
How to Earn Six Figures Selling Cars from an Office
Hey CEOs!
This week's Auto Dealer Newbie training is all about how you can make six figures selling cars from an office.
You can join this free training LIVE for Q&A inside the Dream Dealership Facebook group at www.facebook.com/groups/dreamdealership.
What you believe is what you achieve so start believing it's possible to earn a six figure income with a small dealership.
Join me in NASHVILLE for the Dealer Center Workshop on August 18th (Correction). Get details at www.autodealerbschool.com/specialevent.
Get a Dealer Center 90 Day FREE Trial at www.autodealerbschool.com/dc
Get Startup Funding for your Dealership of up to $50k. Email me at [email protected]
Join the Six Figure Dealer Club. Schedule a Strategy Session at www.autodealerbschool.as.me.
Join the Sales Challenge and Sell More CARS at www.autodealerbschool.com/salespush.
Check out the FREE Auto Dealer Newbie training below.
How to Prevent your Dealership from Losing Money
Hey CEOs!
To keep your eye on the money in your dealership, this video shows you 5 places money can disappear in your business.
We talk about ...
- how to buy your inventory right,
- how to recon,
- how to sell,
- how to manage operation costs and
- how to save time.
Check out the video here:
How to Provide a Buying Service to Build Capital
Hey CEOs!
Are you thinking about offering a buying service to broker vehicles directly to a buyer from the auction?
During the weekly training for auto dealers provided by the Auto Dealer Business School, I tell my story of my experience with adding a buying service and what I learned about best practices.
These tips will help you put together a successful buying service to increase used car sales.
In this video, you will learn...
- What to do if you have a buyer
- How to protect yourself and your customer
- What you need to know for an easy and profitable process
Here is a summary of the Auto Broker/ Buying Service process from the video.
- Taking Buyers to the auction 6:00
- Contract 7:45
- Deposit 10:00
- Expectations 11:30
- Inspecting Vehicles 12:00
After watching the video, if you want to learn more about a buying service and get assistance, register for the FREE Online Workshop How to Buy and Sell your First 5 Cars at www.autodealerbschool.com/1st5cars.
