HOUSTON, TEXAS – The National Alliance of Buy Here, Pay Here
Dealers (NABD) today announced further details of its upcoming event at the
Hilton DFW Lakes Executive Conference Center in Dallas, Texas on Jan. 18-20,
2015.
“This Conference is
designed to address the biggest challenges the subprime auto finance industry
is facing today,” said Ken Shilson, NABD Founder and President. “The buy here,
pay here operator is now facing stiff competition from finance companies,
credit unions, and franchise dealers. Therefore, BHPH operators must find new
ways to retain and regain their customers and increase market share during
these highly competitive times. The old ways just aren’t working because the
industry economics and customer behavior have been altered by all this
competition for subprime customers,” Shilson explained.
“In addition, our
industry is facing some new regulatory challenges from the Consumer Financial
Protection Bureau (CFPB), the Federal Trade Commission (FTC), and state
attorneys general. Legal and regulatory mistakes can prove very costly as
evidenced by the most recent $8 million penalty assessed against a major BHPH
operator.”
In response, NABD
has assembled outstanding experts, attorneys, operators, and former regulators
who will provide tips, techniques and best practice ideas that will help
operators navigate through these challenges in 2015. “You can’t do the same
things next year and expect to be more successful,” Shilson said.
Operators must now
be more proactive in their compliance efforts in order to avoid significant
penalties and business disruption caused by increased regulatory scrutiny.
“However, the industry struggles with what to do and the expense associated
with all these compliance requirements,” Shilson explained. “At this conference
we will explain what operators must do now and how they can comply cost
effectively! We are not receiving much insight from Washington so we must seek
input from former regulators who can share their knowledge. Operators who
believe compliance is expensive will learn that non-compliance is much worse,”
Shilson indicated
The timing of this
event allows operators to start the new year by doing the right things, which
will improve their results. The DFW Lakes Executive Conference Center is an
outstanding facility located very near Dallas Fort Worth International Airport,
and ground transportation to and from the Conference Center is provided. For
attendees who wish to drive to the event, free parking is available. NABD has
arranged significant discounts on rooms while supplies last. No resort fees are
charged to guests and the property has a fitness center, indoor pool, and other
amenities. This event is very affordable for all key personnel.
The dual-track
program will cover both operating and compliance best practices. Operators are
encouraged to send at least two employees so they can attend both tracks.
Unlike other trade shows, this educational Conference is specifically designed
for the BHPH industry so all the sessions will focus on relevant information.
The sessions are interactive so individuals can take away answers to their
specific questions. An agenda and information on keynote speakers is available
at www.bhphinfo.com.
The Exhibit Hall
features all the latest products and services available to help increase
profits and cash flow. Two receptions, a breakfast, and a luncheon are included
and these are designed to facilitate networking with the experts, exhibitors,
and other attendees. “A very limited number of exhibit spots remain available,”
Shilson said. “To secure space, call Keith at 832-767-4759 as the exhibit hall
is expected to be sold out.”
Significant early
registration discounts are available for paid registrations received prior to December 19, 2014. Some
discounted rooms remain available at the Hilton DFW Lakes, so attendees are
urged to reserve now to receive the discount.
Hoping next year
will be better is not a prudent strategy. Operators are encouraged to “work
smarter, not harder” in 2015! This conference will get them pointed in the
right direction!
NABD is the only used car special interest group
exclusively for the self-finance industry. Membership is open to anyone in the
BHPH industry and to service providers. Members pay no dues. NABD will hold its
17th Annual National Conference at the Wynn Resort and Casino in Las Vegas May
19-21, 2015.