#48 Buy Here Pay Here secrets revealed, Managing 40% loan default rates, Financing customers that banks avoid, Crazy customer horror stories | Tiger Okeley, President at Oak Motors
Jan 09, 2024•53 min•Ep 48•Transcript available on Metacast Episode description
In this episode, I'm speaking with Tiger Okeley, President at Oak Motors.
This episode is brought to you by:
AutoFi's powerful platform helps dealers sell smarter, not harder—online and in the showroom.
Learn more at autofi.com/cdg
CDK Global - Empowering dealers with the tools and technology to build deeper customer relationships.
Learn more @ https://www.cdkglobal.com/dealership-xperience-platform
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Topics:
(00:00:00) - Intro
(00:02:26) - What is a buy here pay here dealership?
(00:03:20) - How’d you get into this industry?
(00:07:10) - Why is Buy Here Pay Here so controversial?
(00:11:23) - What does your business do?
(00:13:22) - What’s your customer profile?
(00:16:27) - How are you able to approve people who may not qualify elsewhere?
(00:18:49) - Pricing risk & interest rates
(00:26:02) - Where do you source vehicles?
(00:28:05) - Repossessions
(00:32:48) - What’s the level of utilizaiton you can get out of a car?
(00:37:18) - Do you target a specific IRR or profitability metric?
(00:43:24) - How do you fundraise?
(00:47:13) - Philanthropy
Check out Oak Motors here.
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This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.
