EP #21 Jason Reaves on Buy Here Pay Here Auto Sales and BHPH Dealers

Used Car Dealer Podcast

For this episode of the Used Car Dealer podcast, Zach interviews Jason Reaves who is the President of Wayne Reaves DMS and also a subject matter expert in BHPH. Zach and Jason discuss everything from the mistakes of new BHPH operators to the increased investment in the sub-prime marketplace.
On the episode they discuss:
- How Jason got into the car business and the fact that his father's BHPH store hired developers in the 1970s to build technology to create more efficiencies.
- What Jason has observed from his lens when it comes to BHPH sales during the pandemic
- How has technology (ex - software) evolved the way BHPH dealers operate their dealerships?
- What are the most common mistakes that a new BHPH operator makes?
- BHPH is becoming more and more compliance-driven, whether it’s battling with the Consumer Financial Protection Bureau (CFPB) or litigation on a local level, what are some of the best practices from a compliance standpoint Jason recommends for BHPH dealers
- Jason's thoughts on new models like subscription and online dealers and whether they are trickling down to BHPH
- More funds and sophisticated investors have got into the BHPH space, what are your thoughts on the increased investment (over the last 5 years) into the subprime marketplace; what’s that mean for smaller BHPH operators?
Listen to our other podcast episodes: https://www.sellyautomotive.com/podcast