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2012-05-21 NABD Completes Successful Week of BHPH Training

Houston, Texas – May 22, 2012 – The National Alliance of Buy Here, Pay Here Dealers (NABD) announced today that an international group of dealers, experts and operators gathered in Las Vegas from May 14-18, 2012 to hear nationally-recognized speakers, and to interact during five days of education and networking exclusively for buy here pay here. “Our Dealer Academy which preceded the National Conference this year included dual tracks for both new and experienced operators,” said Ken Shilson, CPA and Conference Chairman. “Overall attendance included more than 1,700 total attendees. The Dealer Academy focused on all the important operational and financial aspects of the business and stressed the importance of compliance. The national conference updated attendees on the latest technology, new capital resources, underwriting and collection tools, and provided the latest regulatory and compliance issue updates. Attendees included operators from the United States, Canada, Australia, and a representative from the Consumer Financial Protection Bureau (CFPB).”

Ken Shilson, CPA, Founder and President of NABD indicated that attendees left with the knowledge needed to face the new challenges in the months ahead. “Legal and regulatory compliance issues and the rising cost of used inventory were two of the areas we really focused on in both the Dealer Academy and the National Conference this year,” Shilson said.

Dealer Academy highlights included sessions covering: BHPH 101, building a successful business model, acquiring and financing the right inventory, systems, accounting/tax strategies and metrics, compliance, hiring and retaining the right people, payment devices, finding good customers, new inventory sourcing technology, keeping customers paying with alternative repayment methods, and maximizing recoveries. NABD and NIADA announced the joint launch of a new BHPH Certified Master Dealer Program for successful operators with five or more years of experience. Applications are available by contacting either NABD or NIADA headquarters.

The National Conference highlights included a presentation by Melinda Zabritski, Director of Automotive Credit for Experian Automotive which provided new insights into the size and composition of the BHPH industry, and Tom Kontos, Executive Vice President / Senior Economist for Adesa, who discussed the latest used vehicle market trends. Legal and regulatory compliance was thoroughly covered by five of the nation’s leading attorneys – Patty Covington, Mark Edelman, Tom Hudson, Terry O’Loughlin, and Chip Zyvoloski. The importance of attendees getting compliant now was emphasized. Other sessions included inductions of industry icons Jim Devoe Sr. and Edward Bass into the NABD BHPH Hall of Fame, updated BHPH benchmarks and trends, advertising do’s and dont’s by Keith Whann, large and smaller operator best practices panels and ten concurrent workshops covering accounting and tax updates, metrics, finding the best customers, CPI, reinsurance, service contracts, using credit and alternative credit information, capital resources, the internet, payment device best practices, and integrated technology solutions. “Over 75 speakers and panelists shared their extensive expertise with attendees and the networking was exceptional,” Shilson indicated.

“The National Conference featured the largest exhibit hall in BHPH industry history and included all the products and services operators need to increase efficiency, profits and cash flow,” Shilson stated. “The sponsors made this conference affordable for attendees and it would not have been possible without them. NABD encourages its members to patronize those who support the BHPH industry,” Shilson stated.

NABD will offer audio recordings for both events within the next 30 days and all PowerPoint presentations can be downloaded from the NABD website at www.bhphinfo.com.

NABD also announced it will hold a BHPH Boot Camp at Ingram Walters’ dealership in Charlotte, North Carolina on August 18-19. Walters and Shilson will provide “hands on” training to a limited number of attendees who will have the opportunity to see one of the nation’s most successful operations during two days of interactive training. NABD also announced its East Coast BHPH Conference set for October 21-23 in Atlanta. For further information on these upcoming events, call 832-767-4759 or monitor updates at www.bhphinfo.com.

NABD is the only used car special interest group exclusively for the self-finance industry. For more information, or to register for these must-attend events, visit www.bhphinfo.com or call 832-767-4759.


 

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