7 KEYS TO SUCCESS - DealersEdge

Key #1 Business ModelBuy Here-Pay Here –or– Lease Here-Pay HereLEASE HERE-PAY HERE (LHPH):Advantages: Sales tax advantage in most states with tax collected per payment Allows for the collection of tax-free security deposits Business tax advantages based on when income is realized Dealership retains ownership making repossession an easier process Leases unaffected by bankruptcyDisadvantages: Fewer capital sources buying LHPH contracts Separate accounting systems Vicarious liability exposure Unfamiliar to consumers and staff Unique terminology and consumer rights