#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
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Show Notes
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.
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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.