Still Burning Gas . . . Busting Bugs

There has only been a slight increase in BHPH delinquency or recency over the past two months, and Agora has been closely monitoring these trends and scratching our heads.

Our colleagues in the GPS industry gave us some insights to understand this. They shared that BHPH customers were still driving their pre-pandemic mileage.

Bam! The second kick of the mule taught us something; the data does not lie. BHPH customers are working, driving, and less affected than we all feared.

That does not mean that you should assume that everyone is working and does not require consideration in the collection cycle. Continuous contact and engagement with customers are always critical, pandemic, or not, for more than one reason.

Tax Season #2

Stimulus checks are creating a new “Tax Season” that will likely run through the summer or beyond, and repeat business is the lifeblood of BHPH. Just as we flag accounts for collections, we should also continuously identify loans in their profit lifecycle and queue them up for trade-in calls. Are you ready?

The data does not lie: If they have $1,000 in hand and twelve months or more solid payment history, the customer (and the vehicle) should welcome your call. Does your data help you understand your profit throughout the loan life? You will be actionable and empowered if you are tracking this.

A good paying customer with a refreshed vehicle is a dynamic profit duo. However, the longer you wait to act increases the chances of mechanical breakdown challenges or them trading-in the vehicle elsewhere.

Keep them busting bugs . . . in your vehicle.

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About AgoraInsights

AgoraInsights is our newest feature empowering BHPH dealers to have on their
desktop real time loan and portfolio valuations through our AgoraBookValue, the only Book Value for
loans and portfolios in the industry. AgoraInsights was designed to empower the BHPH dealer with AI-Infused
tools and features typically only available to the large institutional lenders and we provide it free
of charge to BHPH dealers. Access benchmarking, granular portfolio and loan data, and liquidity at the
click of your mouse.

Agora Team | Chris Barry
Chris Barry

Chris’ mission is to help BHPH dealers maximize their dealership investment with industry-changing analytics and financial strategies that put them on a level playing field with all automotive dealers. He is an experienced automotive finance leader with an extensive history of success in lending, servicing, and ancillary products with AmeriCredit, JP Morgan Chase, American Credit Acceptance, and GWC Warranty.

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