Note Anger

Jim Hines

Hey guys, I was wondering why some BHPH dealers are so angry when I ask them if they want to sell their notes?  It seems like there is something personal that's going on that I am missing. I was hired by a small firm who is pricing their way into the market so it seems like out-bidding everyone would make for an easy time.  This is far from the truth.  Why are so many dealers angry with the thought of selling their notes?  Are some note buyers using nefarious business tactics?

Jared Hamilton

It probably depends on how you are asking the question.  You are poking at the very heart of their business model so throught their lens it could come across as a dumb quesion.  "Why would I want to sell my notes if that is where all my profitability is linked too."

Think about it like this, if you walked into a subay sandwhich shop and asked them if they would like to outsource the sandwich making to you, they would think that is a dumb quesion, after all, that is the reason they exist. 

My advise is if you are going to go into a BHPH and ask them two change their entire business model you likely need to approach the question differently.  Its not that you cant/dont add value to them by having them sell you their notes, but my guess is that is not coming through in how you ask the question.

Questioning someones business model is a very very sensitive topic for a business owner.  Just go ask a franchise dealer what they think about doing away with franchise laws so that OEMs could sell direct to the public and you will see another good example of this.

Good luck.

Jim Hines

Yep. I see your point.  I have changed my approach and it seems to be more effective.   Thanks for your response.

mark rask

In years past I was a manager at a bhph dealership. We would get the occasional person ask us about selling our notes. The way most of them approached it was not the best....Very maybe a different approach will help

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