#397 - Reinventing the Dealer Model
About this episode
A lively discussion at the 2025 Buy Here Pay Here Summit in San Diego focuses on reinventing the dealer model, particularly the transition from buy here pay here to lease here pay here. Tracy Myers shares his journey, insights on marketing strategies, and the importance of adapting to changing consumer behaviors. He emphasizes the significance of Facebook as a marketing tool and the need for a strong customer experience. The episode features engaging anecdotes and practical advice for dealers looking to innovate and improve their operations.
Join us for this special live episode from the Lease Here Pay Here Summit 2025 in San Diego as we sit down with Tracy Myers, fourth-generation dealer and owner of Frank Myers Auto. After 15+ years in buy-here-pay-here with 1,800 accounts, Tracy made the bold decision at age 52 to transition into lease-here-pay-here - and he's sharing everything he learned.What You'll Learn:* Why Tracy switched from a successful BHPH model to lease-here-pay-here* The unexpected advantages: bankruptcy protection, cash flow improvements, and abandoned vehicle solutions* Sales training challenges when educating customers about leasing vs ownership* How "Down the Road Motors" helps customers understand the program* The accounting and operational differences that caught him off guard* Why his "perfect hire" philosophy completely changed over 20 yearsThank you for listening. We hope you learned something new. Let us know what you think.-Leave us a reviewwww.theindependentdealer.comInfo@theindependentdealer.comSupport the businesses that support the podcast!Blytzpay for your credit card processing and text communications. Tell them IDP sent you to get 3 free months!https://www.blytzpay.comBuckeye Risk Services for all your education and reinsurance needshttps://www.buckeyerisk.comTaxmax for flexibility with your tax returns. Use the code “Podcast2024” for 40% off sign up!https://www.taxmax.comIgnite Consulting Partners are there to identify problems, create solutions, and help your business thrive!www.ignitecp.comPlease subscribe, leave us a review, and share with a friend.Connect with us online: / independentautogroup / jlukegodwin / sendtojeffwListen to all our episodes on Anchor:https://anchor.fm/theindependentdealer
Chevrolet Tahoe
"...n the road motors. So they come in wanting a 2024 Tahoe or Hellcat or whatever the top three is."
Challenger Hellcat
"So they come in wanting a 2024 Tahoe or Hellcat or whatever the top three is. Ours is a four-door..."
Dodge Charger
"...he top three is. Ours is a four-door truck, Dodge Charger, Tahoe Suburban, any Yukon, any combination of th..."
Chevrolet Suburban
"Ours is a four-door truck, Dodge Charger, Tahoe Suburban, any Yukon, any combination of that, right?"
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