Many dealers who are in the Buy Here, Pay Here marketplace are successful at their primary objective for owning a dealership: selling cars. However, due to a variety of factors in this space, cash flow can often be a big hurdle and take up a huge amount of time to keep the doors open as well as keep cars and new customers on their lot.
By using a capital provider, BHPH dealership owners can leverage their existing portfolio to access funds that otherwise would have been inaccessible.Owners can avoid the need to take out high interest loans or make otherwise risky decisions with their money. A capital provider provides a lot more assurances that regular payments will be made to the dealership and the payment collection process is made more turn-key and taken off their hands.
The combination of consistent collections and consistent cash flow is what, allows owners and their management team to focus on selling cars, attracting new business and satisfying their existing customers that make using a capital provider such an attractive option.
Specifically for Glenview Finance customers, they receive weekly ACH payments and get real time Performance Reporting about the activity on their contracts, so they have the peace of mind that regular income is coming in and are clear on what’s happening with their customers’ accounts.