IN PRINT / ONLINE / IN PERSON
Auto Finance News
The News Media of the Pre-Owned Industry subprimenews.com bhphreport.com 2018 MEDIA KIT Upload all artwork to What sets us apart? sacommunications.com/ad-upload
Original Content Our industry experts provide original and timely content for the industry.
Nick Zulovich Joe Overby Chris Hart-Williams Sarah Rubenoff
Oversized Digital Presence You worked hard We are everywhere our readership needs us to be. developing your Find the latest news on subprimenews.com and message and brand. bhphreport.com, Twitter, LinkedIn and now on the Show it off in our Auto Remarketing Podcast. 3 10.5 x 12.5 magazine.
Longevity We’ve delivered the news to the subprime auto finance industry for over 10 years.
Reaching 45,000 desks and inboxes every other month. Our subscribers include subprime lenders, independent finance companies, banks, franchised, { 4 independent, and BHPH dealers.
E-News Scheduled and breaking news platforms that reach our 20,000 subscribers.
2 5 2018 MEDIA GUIDE What sets us apart? 2016 Attendance Live Events 40+ We partner with NIADA, 1330+ Hours of attendees throughout Networking
the entire week of NAF, and NAAA to bring the Used Car Week and NAAA Convention industry Used Car Week, 2016 Educational Opportunities 7% which includes the AutoFin 12% 29% 128 33 18 11
Con and Repo Con. We also Speakers Workshops Keynotes Panel Discussion ATTENDANCE Attendance by Conference 15% BY TITLE launched the Automotive Manager 29% 1ST BLOCK 2ND BLOCK Executive 20% Intelligence Summit in 2018, Senior VP 17% 9% Director 15% 20% of attendees Dealer / Principal 7% 17% where we partner with NADA. attended the full week Other 12% 652 900 6 {
SU PRIME
SU PRIME Industry Recognition Each year, we tip our hats to the good SU PRIME work being done across the industry.
SU PRIME Bonus Circulation Enhance and In-Demand Issues A deep look at market influencers, including new expand your fintech firms, regulatory developments and data trends. marketing efforts at NADA, AFSA, NABD, NAF, NIADA, • Millennials and their focus on payments 9 AIS, and UCW. • Fraud could hit $6B in 2017 8 • Expert advice on finding successful employees
Industry Partners Our writing staff has great relationships USED CAR WEEK 2017 with industry thought leaders, data NOVEMBER 13-17 . LA QUINTA . CA providers, associations, alliances, and organizations. All to bring the reader the latest trends, best practices, and impactful changes to the industry.
SubPrime Auto Finance News // BHPH Report 10 3 IN PRINT Upload all artwork to SubPrime Auto Finance News/Buy Here Pay Here Report sacommunications.com/ad-upload
PUBLISHED BY
Cherokee Media Group (CMG) is the publisher of leading business-to-business media brands for the automotive and auto finance industry in the United States and Canada. CMG has delivered news to this industry for over 25 years. Reaching franchised and independent dealers, remarketers, auctions, OEM executives, captive finance companies and more.
CMG also produces a number of conferences that bring together the automotive and auto finance industry to address the trends and future forecasting impacting the retail, finance, repossession and whole sectors.
SubPrime Auto Finance News/BHPH Report, a property of Cherokee Media Group, keeps readers informed on best practices, trends and changes in order to remain profitable.
JANUARY READ BY: FEBRUARY INDEPENDENT DEALERS FRANCHISED DEALERS BHPH DEALERS SUBPRIME LENDERS INDEPENDENT FINANCE COMPANIES BANKS AUCTIONS 45,000 Desks Bi-Monthly & Inboxes
4 2018 MEDIA GUIDE IN PRINT Upload all artwork to Premium Print Advertising sacommunications.com/ad-upload
Front Cover Wrap Details Post-it Note
The Front-Page Cover Wrap is available to
Time to readjust your radar: J.D. Byrider honors 17 select advertisers who also purchase a full- Lessons from recent 6 operators during CFPB actions annual awards program page ad in the print edition of SubPrime Auto Manheim reveals new market structure 12 16 Finance News. A Publication of NABD and SubPrime Auto Finance News January/February 2016 | Volume 3 | No. 1 CFPB orders Colo. dealer to pay $700K Solutions to 5 common Outside Flap Specs: 4.66” x 8.8125” with a Find Your Vehicles… Post It Note ad in restitution for Free! Vehicle location By Nick Zulovich, Editor .125” bleed on all sides accounting problemssightings for 10 VINs. Better than GPS. 10freeVINs.com GREELEY, Colo., and WASHINGTON, D.C. — “Without a third party bid, IRS audi- For the second time in two months, the Consumer Fi- tors may contend you are understating nancial Protection Bureau took out an enforcement the value of your notes in order to claim Inside Flap Specs: 4.66” x 12.5” with a action in the buy-here, pay- Some restrictions apply. a larger loss on sale of notes,” he contin- here industry. ued. “If the IRS can prove you understat- On Jan. 21, the enforce- ed the value of your notes sold to the re- .125” bleed on all sides ment came against Herbies lated finance company, they may disal- Auto Sales, an operator in low (or reduce) the deduction claimed on Greeley, Colo., for what the the return. bureau deemed to be abu- “The IRS scrutinizes related par- sive financing schemes, hiding ty transactions very closely,” Gold- auto finance charges and mis- berg added. “You can assume any transaction between two affiliates will RICHARD CORDRAY leading consumers. CFPB The CFPB said Herbies will be reviewed.” pay $700,000 in restitution to Problem: Charging off an account harmed consumers, with a suspended civil penalty of and restocking the repo into inventory $100,000. at the balance owed on the charged off By Nick Zulovich, Editor “Buying a car is often one of the most important Problem: Being overly aggressive contract. How often have you heard of purchases a consumer makes, so the experience needs when selecting the discount rate for operators using this practice, and how HOUSTON — One of the few chal- to be fair and above-board,” said CFPB director Rich- selling receivables to the related finance much does the practice anger the IRS or lenges buy-here, pay-here operators ard Cordray. company. What measures are best for other regulators? “But concealing finance charges and the real cost face that rivals keeping their custom- operators to use to avoid trouble with ers current on their contracts is main- of credit, as Herbies did here, is unlawful and unac- the IRS or state regulators? Goldberg indicated that he does taining compliant accounting practic- ceptable,” continued Cordray, whose agency penalized not recommend dealers stock invento- es that keep them from getting into trou- If a dealership chooses to sell notes CarHop just before the holidays. ry at the balance owed on the charged ble with the Internal Revenue Service or to its related finance company, Goldberg off account. He pointed out this prac- Y King S Corp., which does business as Herbies state regulators. pointed out the operation must sell the tice creates a number of potential issues Auto Sales, operates a dealership that both sells the ve- Steven Goldberg touched on sever- notes at fair market value. for dealers. hicle and originates the contract without selling that al major areas where BHPH dealers can So how does a dealer determine what “First, if the outstanding customer deal to a third party. From at least 2012 through May sharpen their record keeping and other price is fair market value so as to avoid balance is higher than the true value of 2014, the CFPB determined the BHPH operation of- practices in order to make their IRS fil- problems with the IRS on valuation the repossessed vehicle, then the compa- fered financing to about 1,000 people each year. ings and other materials compliant. Gold- of notes? ny is overstating their taxable net income berg is one of the partners with Shilson, “The best method to support pric- by missing out on the full amount of the Goldberg, Cheung & Associates, a Hous- Response from operator ing of notes sold to your related finance bad debt expense,” he said. ton-based accounting firm that specializ- company is to obtain a written bid from “Second, the dealer will be unable to es in handling the complex needs of keep- In a message to BHPH Report, Herbie’s Auto Sales a third party on the value of your notes,” generate accurate static pool analysis on ing accurate compliant records in BHPH. owner Lee Yoder explained how the operation was in- Goldberg said. “I recommend dealers ob- the portfolio because the books are hid- BHPH Report reached out to Gold- tended to function. tain a bid on their note portfolio at least ing the losses of one account in another,” berg as 2016 started to drill deeper down once every other year so that you always Goldberg continued. into some of the most common problems have a current valuation to support the
CFPB continued on page 20 BHPH operators encounter. discount deducted on the return. SOLUTIONS continued on page 22 Cherokee Automotive Group | 301 Cascade Pointe Lane | Cary, NC 27513 NC Cary, | Lane Pointe Cascade 301 | Group Automotive Cherokee YOU WOULDN’T DIVE INTO A
TANK FULL OF HUNGRY SHARKS. Permit No. 555 No. Permit SO, WHY RISK YOUR TAX SEASON PROFITS?
Specs:PA GREENVILLE, E. Don’t put profits in danger. US POSTAGE PAID POSTAGE US 1-877-318-8072 | Spireon.com/sharks 3.0”STD widePRSRT x 3.0” tall
Corners are rounded. White or yellow paper available. Please ad .125” full bleed to creative. *Post It Note page positioning may appear different than shown. Outside cover wrap
Inside cover wrap
SubPrime Auto Finance News // BHPH Report 5 IN PRINT Upload all artwork to Ad Sizes & Ad Rates sacommunications.com/ad-upload
ADVERTISING RATES AVAILABLE AD SIZES » Rates are 4-Color AD UNIT WIDTH DEPTH » Back Cover: additional 25% Full Page 10.4375” x 12.5” » All spreads: additional 25% sacommunications. » Sequential pages or special placement: additional 25% Full Page with Bleed 10.6875” x 12.75” com/ad-upload » Inside Cover: additional 15% Spread 20.875” x 12.5” Spread with Bleed 21.125” x 12.75” Junior Page 7.375” x 9” AD UNIT 1X 3X 6X Junior Page Spread 15.25” x 9.562” Full Page $6,265 $5,510 $5,185 1/2 Page Horizontal 9.875” x 5.75” Spend Less Time Worrying Spread $9,400 see ad rep for rates And More Time Selling
1/2 Page Horiz. Spread Trim 20.875” x 6.1871” Full Page You’ve got your customers covered Now let us cover you
Spireon GoldStar GPS protects your assets, giving you peace of mind. Junior Page $5,080 $4,430 $4,105 From vehicle recovery to automated reference checks, we’ve got you covered.
We ensure that you’re backed by a technology that’s been tried and tested by over 8,000+ dealers. Providing you with all the critical vehicle information you 1/2 Page Horiz. Bleed* 21.125” x 6.312” need, so you can spend less time worrying, and more time selling. Junior Page Spread $7,620 see ad rep for rates To find out more about Spireon GoldStar GPS call 1/2 Page Vertical 4.875” x 11.625” 1-855-360-9427 or visit spireon.com 1/2 Page $3,780 $3,345 $3,130 Subprime_FullPageDiamond_051116.indd 1 5/11/16 9:25 AM 1/4 Page $2,050 $1,835 $1,725 1/4 Page Square 4.875” x 5.75” 1/8 Page $1,185 $1,075 $970 1/4 Page Vertical 2.375” x 11.625” 1/4 Page Horizontal 9.875” x 2.75” 1/8 Page Horizontal 4.875” x 2.75” 1/8 Page Vertical 2.375” x 5.75”
*1/2-page horizontal spread has a 1/8 inch bleed on Junior Page left, right and bottom FILE SPECIFICATIONS » Only flattened, CMYK digital artwork at 300 dots per inch will be accepted. » We prefer high-resolution PDF-X1A files but will accept Avoiding subprime completely high-resolution TIF, EPS and JPEG files. Please include all can make credit unions ‘elitist’ By Nick Zulovich, Senior Editor institutioninstitution ofof moremore thanthan 115,000115,000 membersmembers You Control. who mainly are employed in the medical and LASLAS VEGASVEGAS —— IndianaIndiana MembersMembers CreditCredit educationeducation fieldsfields basedbased inin Indianapolis.Indianapolis. Union chief executive officer Ron Collier ex-- “We“We stillstill havehave kindkind ofof aa traditionaltraditional fieldfield ofof We Support. plainedplained howhow thisthis segmentsegment ofof autoauto financingfinancing membership at our credit union. We know providersproviders cancan becomebecome “elitist”“elitist” ifif allall theythey dodo isis when negative things are happening in the med-- bookbook vehiclevehicle installmentinstallment contractscontracts withwith concon-- icalical oror educationaleducational fieldsfields andand allowallow forfor that,”that,” ColCol-- sumerssumers whosewhose FICOFICO scoresscores areare 800800 oror higher.higher. lierlier continued.continued. “We“We trytry toto strengthenstrengthen aa loanloan ifif fonts and graphics. PerhapsPerhaps creditcredit unionsunions aren’taren’t originatingoriginating aa membermember hashas somesome bruisedbruised creditcredit byby gettinggetting aa contractscontracts onlyonly withwith super-primesuper-prime consumconsum-- littlelittle bitbit moremore ofof aa downdown paymentpayment oror cosigner.cosigner. ers,ers, sincesince thethe latestlatest TransUnionTransUnion datadata showedshowed That’s the method that we use. We look at the re-- creditcredit unionsunions grewgrew theirtheir autoauto membershipmembership lationshiplationship they’vethey’ve hadhad withwith usus inin thethe past.past. byby 9.89.8 percentpercent year-over-yearyear-over-year fromfrom thethe firstfirst “I’m“I’m notnot suresure whatwhat thethe industryindustry definidefini-- quarterquarter ofof thisthis yearyear comparedcompared toto thethe firstfirst tiontion ofof aa subprimesubprime loanloan is,is, butbut II cancan telltell youyou quarterquarter ofof lastlast year.year. thatthat wewe havehave triedtried veryvery hardhard toto helphelp memmem-- InIn addition,addition, TransUnionTransUnion indicatedindicated thatthat inin bersbers withwith creditcredit belowbelow whatwhat wewe usedused to,”to,” hehe 2010,2010, onlyonly 4949 creditcredit unionsunions issuedissued moremore thanthan went on to say. “It has been a strategy of ours. 10,00010,000 autoauto loansloans duringduring thethe year.year. InIn 2015,2015, You can kind of become an elitist lender if analystsanalysts determineddetermined 126126 creditcredit unionsunions werewere you’reyou’re notnot careful,careful, onlyonly makingmaking loansloans toto thosethose issuingissuing moremore thanthan 10,00010,000 autoauto loansloans annually.annually. with great credit when people who have run TransUnionTransUnion sharedshared thosethose datadata pointspoints inin throughthrough aa littlelittle badbad times.times. IfIf youyou looklook atat thethe August from Las Vegas when the credit bu-- whole relationship and the entire person, you reaureau hostedhosted itsits annualannual creditcredit unionunion semisemi-- cancan probablyprobably helphelp themthem ifif they’rethey’re willingwilling toto » If color is critical, a certified color accurate proof can be nar,nar, whichwhich includedincluded participantsparticipants fromfrom leadlead-- helphelp themselves,themselves, too.”too.” inging creditcredit unionsunions acrossacross thethe country.country. TranTran-- IndianaIndiana MembersMembers CreditCredit UnionUnion doesdoes notnot sUnionsUnion arrangedarranged forfor SubPrimeSubPrime AutoAuto FinanceFinance participateparticipate inin indirectindirect autoauto financing,financing, butbut News toto speakspeak withwith aa couplecouple ofof themthem —— ColCol-- Collier estimated auto constitutes about 20 lier,lier, asas wellwell asas MikeMike Long,Long, whowho isis executiveexecutive percentpercent ofof thethe entireentire creditcredit portfolioportfolio thethe oror-- vicevice presidentpresident andand chiefchief creditcredit officerofficer fromfrom ganizationganization hashas —— componentscomponents thatthat includeinclude thethe UniversityUniversity ofof WisconsinWisconsin CreditCredit Union.Union. mortgages and credit cards. Blossoming rela-- “The“The wordword subprimesubprime isis kindkind ofof anan unusuunusu-- tionshipstionships withwith Indianapolis-areaIndianapolis-area dealershipsdealerships alal termterm forfor creditcredit unionsunions becausebecause wewe havehave asas wellwell asas aa partnershippartnership withwith EnterpriseEnterprise CarCar submitted. We cannot be responsible for color variations and members. I think we know our members a SalesSales fuelsfuels thethe autoauto originationorigination pipelinepipeline forfor littlelittle bitbit better,”better,” saidsaid Collier,Collier, whowho overseesoversees anan CREDITCREDIT UNIONUNION continuedcontinued onon pagepage 99 CU Direct reaches mid-year milestone
ONTARIO, Calif. — CU Direct has toto AutoCount.AutoCount. reachedreached aa newnew milestonemilestone inin autoauto loans,loans, helphelp-- The growth re-- inging creditcredit unionsunions fundfund moremore thanthan $16.1$16.1 bilbil-- flectsflects creditcredit unions’unions’ quality on files submitted not following these guidelines. lionlion inin loansloans atat thethe halfwayhalfway pointpoint ofof thethe year.year. continuedcontinued appeappe-- A provider of technology and automotive titetite inin autoauto financfinanc-- solutionssolutions forfor thethe creditcredit unionunion industry,industry, CUCU ing,ing, growinggrowing marmar-- Direct has helped its more than 1,000 cred-- ketket shareshare fromfrom 19.719.7 itit unionunion partnerspartners increaseincrease fundedfunded installmentinstallment percentpercent year-endyear-end We deliver products that support your ability to meet contractscontracts byby 24.524.5 percentpercent year-over-year.year-over-year. TonyTony BoutelleBoutelle 20142014 toto 2121 percentpercent CU Direct youryour customers’customers’ growinggrowing demandsdemands forfor greatergreater flexibilityflexibility Half Page Vertical Half Page Officials highlighted credit unions fund-- CU Direct inin JuneJune ofof 2016.2016. eded aa recordrecord 529,000529,000 contractscontracts throughthrough CUCU DiDi-- “CU“CU DirectDirect isis exex-- inin salessales andand financingfinancing whilewhile leavingleaving rect’srect’s LendingLending 360360 andand CUDLCUDL platformsplatforms inin thethe citedcited toto helphelp ourour partnerpartner creditcredit unionsunions increaseincrease youyou inin controlcontrol ofof thethe profitsprofits andand process.process.
Junior Page Spread Junior Page firstfirst halfhalf ofof 2016,2016, aa 16.4-percent16.4-percent increaseincrease aboveabove autoauto lendinglending scalescale andand efficiency,efficiency, improvingimproving thethe mid-pointmid-point ofof lastlast year.year. AsAs aa result,result, CUCU DiDi-- overalloverall marketmarket shareshare andand creatingcreating aa betterbetter memmem-- rectrect calculatedcalculated thatthat itsits creditcredit unionunion partners,partners, asas berber experience,”experience,” CUCU DirectDirect presidentpresident andand chiefchief anan aggregate,aggregate, areare thethe nation’snation’s third-largestthird-largest autoauto executiveexecutive officerofficer TonyTony BoutelleBoutelle said.said. financer,financer, experiencingexperiencing higherhigher loanloan originationorigination “We“We areare committedcommitted toto deliveringdelivering inin-- growthgrowth thanthan anyany autoauto lenderlender rankedranked amongamong novativenovative technology,technology, productsproducts andand servicservic-- thethe nation’snation’s toptop ten.ten. eses thatthat helphelp creditcredit unionsunions makemake moremore loansloans CU Direct insisted credit unions experi-- andand improveimprove theirtheir members’members’ autoauto buyingbuying www.routeone.com encedenced greatergreater loanloan growthgrowth thanthan WellsWells FargoFargo andand autoauto lendinglending experiencesexperiences todaytoday andand inin Dealer Services and Ally Financial, according thethe future,”future,” BoutelleBoutelle continued.continued.
SeptemberSeptember || OctoberOctober 20162016 subprimenews.comsubprimenews.com 55
AAvveerraagege loloaann rraatteess aarree showingshowing somsomee 2 e er i e re i m r e Q2 2015 total loan Digital auto retailing: The impact to F&I office ininccrreeaasseess butbut rreemmaainin hihisstortoriiccaallllyy lowlow TOP 20 market share By Joe Overby, Staff Writer 5 percent or lower. By Joe Overby, Staff Writer 5 percent or lower. AAvverageerage loan loan ra ratteses 6 However,However, he he believes believes there there will will be be “more “more and and more more will will-- LENDERS Q1 2015 Q1 2016
92 Q1 2015 Q1 2016 92 CARY,CARY, N.C. N.C. — — The The growthgrowth ofof digitaldigital retailingretailing is is broad-broad- inging toto atat leastleast startstart thethe process,process, applyapply forfor credit,credit, getget aa realreal 12.23%12.22% 5 . 5 . Finance 12.23%12.22% 45 in uto Finance inance 45 2 re re e 1 based in the auto business. deal baked and perhaps just not sign on the dotted line, but 5 . 5 . based in the auto business. deal baked and perhaps just not sign on the dotted line, but re i 14.46% ItIt runsruns thethe gamutgamut fromfrom startupsstartups offeringoffering consumersconsumers atat least least walk walk into into the the dealership dealership fully fully informed informed on on what what they they Bank 18 18 06 06 peer-to-peer or direct-to-consumer online car-buying, to should expect to pay.” 91 The auto fi nance 91 4 . 4 . 34.72% peer-to-peer or direct-to-consumer online car-buying, to should expect to pay.”
4 . 34.72% 4 . 8.03% 3 . 3 . 7.81%
43 8.03% franchise is a 3 43 Credit companiescompanies likelike CoxCox AutomotiveAutomotive andand CDKCDK GlobalGlobal helpinghelping GutierrezGutierrez has has spotted spotted improvements improvements in in F&I F&I and and extend extend-- 7.81% 3 . 3 . Union 82 82 77 formidable competitor 77 facilitatefacilitate digitaldigital retailingretailing atat dealerships.dealerships. AndAnd eveneven certaincertain eded warranty warranty penetration penetration among among dealers dealers his his company company works works 2 . 2 . 2 . 2 2 . 16.83% 14 with the associate 14 pieces of the car-buying process are becoming more digi- withwith that that have have implemented implemented “more “more transparent transparent pricing pricing on on-- 4.71% 4.79% 83 pieces of the car-buying process are becoming more digi- 83 2 . 2 . 4.71% 4.79% 71 71 1 . 1 . 47 expertise, customer 47 1 . 1 1 . talized — for instance, consumers being able to get a price line, where they’re providing actual pricing to market to 20 20 19 19 talized — for instance, consumers being able to get a price line, where they’re providing actual pricing to market to 15 1 . 15 1 . 99 99 99 97 93 99 99 99 97 93 1 . 1 . 1 . 1 . 1 . relationships and 1 . 0 . 0 . 0 . 0 . 0 . 0 . 0 . 0 . 0 . 0 . onon their their trade trade online. online. consumers.”consumers.” fl exibility to adjust the 0 BHPH And as digital retailing continues to grow, it may have As such, the customer and dealer don’t spend 45 min- Captive 7.15% And as digital retailing continues to grow, it may have As such, the customer and dealer don’t spend 45 min- changing dynamics. an effect on the F&I office, says Kelley Blue Book senior an- utes or an hour going back and forth on the price of the car NewNew FFranrancchhisiseded u usseedd IndIndeependependennt tus useedd Results this 26.80% an effect on the F&I office, says Kelley Blue Book senior an- utes or an hour going back and forth on the price of the car e rey Bro n alyst Alec Gutierrez. or the value of the trade, he said. quarter are another alyst Alec Gutierrez. or the value of the trade, he said. inancia quarter are another “I would honestly say, within two or three years, I “When you’re not focused on getting the right price demonstration of “I would honestly say, within two or three years, I “When you’re not focused on getting the right price wouldn’t be surprised to see a majority of dealers having at on the purchase and trade, you’re a little bit more open to AAvverageerage loan loan ra rattee b byy risk risk tier tier it. The auto fi nance Source: Experian Automotive Source: Experian Automotive wouldn’t be surprised to see a majority of dealers having at on the purchase and trade, you’re a little bit more open to least a buy-it-now, shopping-cart, digital retailing solution spending time on the test drive, understanding the values forfor Q1 Q1 2016 2016 franchise will continue to be a key focus least a buy-it-now, shopping-cart, digital retailing solution spending time on the test drive, understanding the values integrated into their websites,” Gutierrez said during a con- of the car and ultimately understanding how to protect that and a cornerstone of our company. We integrated into their websites,” Gutierrez said during a con- of the car and ultimately understanding how to protect that 5.48%5.48% ference call with the media on July 1. car by an extended warranty and some of the other products have a strong heritage and expertise 2 ie er m r i e ference call with the media on July 1. car by an extended warranty and some of the other products AAvvgg Inde Indeppendentendent u usseded 111.83%1.83% NEW “Now, with that said, just because there’s a button that that are available in the F&I office,” Gutierrez said. in this business and no plans to divert “Now, with that said, just because there’s a button that that are available in the F&I office,” Gutierrez said. 18.53%18.53% our focus. The adaptability we’ve e er e r S e i 2 1 says you can buy this thing online doesn’t mean you’re go- “As digital retailing takes more of a foothold as consum-
99 says you can buy this thing online doesn’t mean you’re go- “As digital retailing takes more of a foothold as consum- 99 71 71 4.60% 7 . 7 .
55 55 4.60% 7 . 7 . ing to find a ton of consumers willing to make that leap. I ers are better informed in terms of what they should expect 7 . demonstrated is quite powerful. 7 . ing to find a ton of consumers willing to make that leap. I ers are better informed in terms of what they should expect 86 86 2 re re e D C U D 6 Avg Franchised used 9.12% 6 . 6 .
42 Avg Franchised used 42 would say you’re going to see a minority of the market (go to pay at the dealership, what they should expect to receive 9.12% 6 . 6 . re i 2 C U C 2 C C would say you’re going to see a minority of the market (go to pay at the dealership, what they should expect to receive 15.25% C U U 15.25%
99 that route),” he said. for their trade before they walk in the door, I would suspect We are committed 99 that route),” he said. for their trade before they walk in the door, I would suspect We are committed 4 . 4 . 30 30 C U 3.29% 4 . 4 . Gutierrez estimates that the proportion of consumers that you’re going to see the profit centers of the dealership 3.29% to providing 3 Gutierrez estimates that the proportion of consumers that you’re going to see the profit centers of the dealership
to providing 47 47 39 39 C D C C 3 . 3 . Avg New 3 . 3 . “willing to go point to point and finalize the deal” would be shift more and more into the F&I office.” 6.57% consumers access 2 “willing to go point to point and finalize the deal” would be shift more and more into the F&I office.” Avg New 6.57% 39 D C U U D C D C 39 15 15 2 . 2 . 90 90 87 87 2 .
2 . 11.03% 53 1 53 C CU C C D U
1 . 1 . 1 . 42 36 36 33 1 . 42 36 36 33 11.03%
to a broad credit 23
to a broad credit 23 14 14 1 . 1 . 1 . 1 . 1 . 1 . 1 . 1 . 1 . 1 . 1 . 1 . 1 . 1 . “I would honestly say, within two or three years, I wouldn’t be surprised to see a majority of dealers spectrum of 0 D C D U “I would honestly say, within two or three years, I wouldn’t be surprised to see a majority of dealers Prime Nonprime Subprime fi nancing through 9 U 9 havinghaving at at least least a a buy-it-now, buy-it-now, shopping-cart, shopping-cart, digital digital retailing retailing solution solution integrated integrated into into their their websites.” websites.” Prime Nonprime Subprime 0 C 20 D U C our network of Source: Experian Automotive — — Alec Alec Gutierrez, Gutierrez, Kelley Kelley Blue Blue Book Book Source: Experian Automotive dealers in all Source: C ro Se eport a ivi ion o ominion ea er So ution economic cycles. Source: Experian Automotive NatalieN t lie Bro n e a go argo Wells Fargo Dealer Services 2 e er i re e has become a USED 60 leading auto lender through our long- 6 60 re e r m 6 . 6 .
term approach to growth, disciplined e e e e er i 2 1 88 underwriting practices, ongoing 88 2 re re e 4 . 4 . 1 1 1 customer feedback and strong 1 re i C U C D 4 . 4 . 68 3 68 3 . 3 . 2 D C 2 U D 䘀䰀伀伀刀倀䰀䄀一 relationships with dealers who share 䘀䰀伀伀刀倀䰀䄀一 D C U U CU 42 our commitment to the communities 2 42 2 . 2 . 86 86 C D CC C C C C D CC C 81 81 79 79 51 51 1 . 1 . 1 . 1 . 1 . and customers we serve. 1 1 . 1 . 1 . 20 20 C U C C C 06 02 01 06 02 01 91 91 88 87 88 87 1 . 84 1 . 84 80 78 75 80 78 75 1 . 1 . 1 . 1 . 1 . 1 . 0 . 0 . 0 . 0 . 0 . 0 . 0 . 0 . 0 . 0 . 0 . 0 0 . 0 . 0 . C CU C C D D CC C C C U C 9 C 9 U D U C D C 0 C CC C C 20 D U C
Source: Experian Automotive Source: C ro Se eport a ivi ion o ominion ea er So ution
MANHEIM HARRISONBURG » ALWAYS THERE TO HELP To make sure you are getting your DON’T IGNORE THE DATA 855-488-9925
1/4 Page Horizontal 1/4 Page share of this profitable segment share of this profitable segment www.CreditMailExperts.com MY DEALERSHIP SUCCEED. you need the experts. Half Page Horizontal Half Page
ARI 9:30AM AUG. 3, 10, 17, 24 & 31 SELECT MARKETING 9:30AM AUG. 31 䜀甀愀爀愀渀琀攀攀 CPS 9:30AM AUG. 10 & 24 SPECIALTY SALE 11:00AM AUG. 3, 10, 17, 24 & 31 We offer targeted programs for: CREDIT ACCEPTANCE/VRS 9:30AM AUG. 3, 24 & 31 Motorcycles, boats, campers, medium & heavy duty trucks DEALER SALE 9:30AM AUG. 3, 10, 17, 24 & 31 TRA 9:00AM AUG. 3, 10, 17, 24 & 31 Subprime Auto Credit Mail Program Franchised dealers Inoperable & drivable ENTERPRISE 9:30AM AUG. 3, 10, 17 & 24 Daily Subprime Trigger Program Independent dealers WELLS FARGO 9:30AM AUG. 3, 10, 17, 24 & 31 EXETER 9:30AM AUG. 3, 17 & 31 WHEELS 9:30AM AUG. 3, 10, 17, 24 & 31 Weekly Fresh Chapter 7 Bankruptcy Program BHPH dealers FISERV 9:30AM AUG. 3, 10, 17, 24 & 31 4x4 TRUCK SALE 10:00AM AUG. 3 & 17 MOBILE SALE 10:00AM AUG. 5, 12 & 19 Discharged Chapter 7 Bankruptcy Program Lenders Berglund Group - Roanoke, VA Open Chapter 13 Bankruptcy Program OEMs 䘀漀爀䘀漀爀 洀漀爀攀 洀漀爀攀 椀渀昀漀爀洀愀琀椀漀渀 椀渀昀漀爀洀愀琀椀漀渀 挀漀渀琀愀挀琀㨀 挀漀渀琀愀挀琀㨀 Manheim.com | 866-Manheim | 3560 Early Rd, Harrisonburg, VA 2280 | 540.434.5991 Square or Vertical 1/4 Page Recent reports show that over 30% of all Agents and Reps Needed ⠀㠀 ⤀⠀㠀 ⤀ 㠀㜀㌀ⴀ㈀㤀 㜀㠀㜀㌀ⴀ㈀㤀 㜀 ©2016 Manheim, Inc. All Rights Reserved. cv M logo is a trademark of Manheim, Inc. auto loans originated are SUBPRIME! 䘀䰀伀伀刀倀䰀䄀一䘀䰀伀伀刀倀䰀䄀一 愀甀琀漀甀猀攀⸀挀漀洀愀甀琀漀甀猀攀⸀挀漀洀 1/8 Page Horizontal or Vertical 1/8 Page 1 SubPrime uto Finance inance ews ol. 10 ssue 5 1212 SubPrime SubPrime Auto Auto Finance Finance News News Vol.Vol. 11 11 Issue Issue 4 4
6 2018 MEDIA GUIDE IN PRINT Upload all artwork to Editorial Calendar sacommunications.com/ad-upload
SUBPRIME AUTO FINANCE NEWS
ri etaxa presente b oto onat an re in presente b RESENTED B Auto Finance News Indu try D t Center
O N B NCE RIS DISTRIBUTION E R O ER E R B NCE C N E
1 .55 1 . 1 .62 15. Financing ccolade .0 . 1 Presented by Black Book Lender Recovery onor May + June | Volume 13 | No. 3 6. 2.51 2.26 1. 5.0 Solutions, the 2016 SubPrime Auto The 2016 Re3 Executive of the Finance Executive of the Year will ▼ Year will be handed out during the 1 .00 1 .0 1 . be named during the fi rst full day Re3 Conference by the sponsor Your guide F&I margin, of the SubPrime Forum. Last year’s of the award, Consolidated Asset to the 22nd 15. 0 15. 15. recipient was Dan Ulatowski of Recovery Systems. Last year’s annual Non- claims among Time of change at CFPB .2 . . 1 Credit Acceptance. winner was Scott Phillips of Prime Auto 6 Lendmark Financial Services. Financing dealer survey By Nick Zulovich, Senior Editor Denson said about permanent kind of certainty, but I don’t think Conference Dee Su er oto onat an re in oto onat an re in leadership arriving at the bureau. the current change has removed Su ri e Non ri e ri e highlights Dee Su ri e Su ri e Non ri e ri e Su er ri e Su ri e ri e WASHINGTON, D.C. — “For all of the changes that Mul- auto finance companies and deal- Su Prime Forum highlights Re Con erence highlights ▼ Multiple requests for infor- vaney has made, most of the laws ers from their compliance re- Source: Experian Public, State of the Automotive Market ri Stine ert mation about how the agen- that are applicable are still on the By Nick Zulovich, Senior Editor Examining CFPB continued on page 3 Source: Experian Traversing the Rocky Landscape: An In-Depth Look at the Assessments from Inside the Capitol cy operates. A $1 billion en- books with the exception of the R ET S RE O TOT IN NCIN Subprime Auto Finance Market Beltway how forcement action against one indirect auto guidance, which has CHESTERFIELD, Mo. — When US D U S O S R ET S RE O NE IN NCIN Nov. 15 at 11:15 a.m. Nov. 16 at 8:15 a.m. mandatory of nation’s largest commercial been revisited. Protective Asset Protection, conduct- roughout the years, automotive nancing has seen some no- alue o enders sing ocation Based ata By the time Chris Stinebert arrives at updates 8 banks and participants in auto “I think there is always a risk ed its latest survey addressing dealer ticeable changes, from rising vehicle prices and loan amounts, to Nov. 15 at 9:15 a.m. during their entire lifecycle experience with you,” Used Car Week, we will have elected a new truly impact financing. for enforcement, and most people concerns and opportunities with F&I monthly payments and loan terms extending out to record highs. As Digital Recognition Network chief executive o cer Metaxas said. “ e mistake that lenders make is that they president and new members the recovery Certainly, it’s been far from who are prudent are not overre- product offerings, the provider of F&I these trends continue, how will they a ect the subprime auto lend- Chris Metaxas will be making one of the keynote are reactive to a point in time,” he continued. “During of Congress. 0.02 0.02 .06 5.01 industry quiet at the Consumer Financial acting and doing away with their programs, services, and dealer-owned 1.0 2 .0 52.02 5 .02 11.0 12.0 .0 ing market moving forward? Will delinquencies remain low? Are the presentations during this year’s SubPrime Forum, where origination, they scramble to get data to close the e American Financial Services compliance system. And nor 2.0
Protection Bureau so far this year warranty programs wasn’t surprised to 2 .06 ▼ with Mick Mulvaney as acting should they because we’ve seen see margin to be a primary concern. 2 .0 concerns of a subprime bubble real? In this session, Melinda Zabrits- DRN is the presenting sponsor for that segment of Used opportunity, and during collection they scramble to nd Association president and chief executive director. increased activity from state An element that did catch the at- R ET S RE O USED IN NCIN ki, Experian’s senior director of automotive nance, will examine Car Week. He will highlight the prudent moves some auto you when the data was not up to date. at’s why smart o cer will appear for the second consecutive
Using 20 1 .0 20.0 Whether the pace of change at regulators, the Federal Trade tention of Protective Asset Protection several key areas of subprime auto lending, and provide an in-depth nance companies are making and the areas involving lenders are now deploying location intelligence data, like year to provide an updates on AFSA’s e orts group 11.06 11.06 analysis of how current market realities are a ecting the industry as collections where some institutions could improve. vehicle sightings from DRN, throughout the entire lifecycle to represent the auto nance community in
Commission. Those risk factors .01 .01 sessions the CFPB continues on the track senior vice pres- e in a a rit i established since Richard Cordray are not going away,” he said. ident of distribu- a whole. “ e key to e ective commerce is knowing your of the loan, so they can stay close, communicate frequently Washington, D.C. to enhance customers. at means you need to stay close to them and adapt with you to help avert payment challenges.” “ e message AFSA is trying to convey
12 departed and President Trump ap- “It’s important to have a tion Rick Kurtz .0 .01 .0 5.02 1 .00 12.0 2 .0 26.0 1 .05 1 .00 compliance pointed Mulvaney is difficult to permanent director and some revolved around e Role of Technology in the Consumer Experience to lawmakers, regulators and other important stakeholders inside and outside the Beltway is something Nov. 15 at 1 p.m. that regulators do not think of when they are writing regulations for our industry. at is, in order project. claims. Credit in nce But no matter whether it’s Dealers of all B nk B C tive Dealers must continue to evolve the experience they deliver to enact all of these rules it takes money,” Stinebert said. “Unfortunately, more o en than not, the Union Co Credit in nce nconventional isdom Mulvaney in sizes rely on their B nk B C tive to consumers by understanding the technologies and tactics used. ort e art unforeseen costs of overzealous regulations ultimately ows to the customer and what they are paying ▼ Union Co While new channels emerge, existing channels evolve but rarely dis- uto Re ossession in the ata ge for the cost of access to credit.” command, finance office for oto onat an re in Black another sin- prosperity. Be- appear. RouteOne chief strategy o cer Todd Mason says the key is Nov. 16 at 10:15 a.m. gle director or Rick Kurtz hind financing, Source: Experian Public, State of the Automotive Market building an integrated experience with technologies that best suit Recent data insights give us the power to stress test long Streamlining the Recovery Process Book’s 2018 Protective Asset depreciation perhaps even Protection Protective Asset Source: Experian your organization’s individual strategies and provide customers with held beliefs about the best ways to maximize recovery and Nov. 16 at 9:15 a.m. forecast a multi-member Protection not- the end-to-end journey they are looking for. Mason’s discussion will minimize liability. In an age of increasing technology inte- A collection of a half dozen top executives from the leading forwarding and recovery providers in the 14 TO UTO ENDERS OR USED NE IN NCIN commission, at least ed that additional F&I offerings rep- be based on market trends overall and among tech-savvy, Gen Z grations, we now have unprecedented access to cross func- nation will gather for a candid discussion about how this part of the auto nance lifecycle can improve. and 3 other TOT O EN UTO OTI E one compliance expert resent the second-largest opportunity buyers who are budget conscious and want the most value for their tional data. is empowers new insights into best practices Each executive representing ALS Resolvion, Consolidated Asset Recovery Systems, Del Mar findings O N B NCE says that auto finance for margin growth for dealers at 57.6 money. Does your strategy address the diversity of consumers’ needs and compliance management. Recovery Solutions, MBSi Corp., Millennium Capital and Recovery Corp., PAR North America and from Fitch companies and deal- percent. BI IONS and provide a compelling experience? “For years, lenders and forwarders have struggled to in- Primeritis Financial Services plans to o er a unique perspective aimed at bene tting nance companies erships shouldn’t ex- The online survey was present- 1 500 o a on spect all of the lots in their network on an annual basis. With and other service providers of all sizes. ▼ pect regulations to melt ed to approximately 1,573 dealership hundreds of vendors and thousands of lots, this proved near Back to away like an ice cube owners and professionals between impossible,” said MBSi’s Cort DeHart, who will explore in a the basics on a hot summertime March 5 and March 9. The results 1 000 session these powerful data connections and discuss how we oto onat an re in of legal sidewalk. show that the majority of dealers are can leverage them as an industry. 1 100 compliance “I think it’s important concerned with falling sales, as well as 22 Photo by Gage Skidmore 1 02 but only to a point,” Hud- dealership consolidation and adminis- 500
son Cook partner Allen Mick Mulvaney, the CFPB’s acting director appointed by President Trump. 2 F&I continued on page 4 Percentage of Total
Loan (new & used) S S S S S S S S
US B N Cherokee Media Group | 301 Cascade Pointe Lane | Cary, NC 27513 NC Cary, | Lane Pointe Cascade 301 | Group Media Cherokee NC B N 0
TD UTO IN NCE B N O ERIC C R S ER C IT
ORD OTOR CREDIT
C SE UTO IN NCE
C R UTO IN NCE Source: Experian Public, State of the Automotive Market
Permit No. 555 No. Permit CREDIT CCE T NCE COR E. GREENVILLE, PA GREENVILLE, E. C IT ONE UTO IN NCE ERIC N OND IN NCE TO OT IN NCI SER ICES IN NCI ERICREDIT S NT NDER CONSU ER US
UNTIN TON N TION B N US EDER S IN S B N US POSTAGE PAID POSTAGE US N E BER , N E BER , N E BER , N E BER , E S R O DE ER SER ICES EST E IN NCI SER ICES
PRST STD PRST CP RE RKE IN C S BPRI E RE RKE IN C RE RE RKE IN C NRC RE RKE IN C 6 SubPrime uto inance ews NISS N IN INITI IN NCI SER ICES ol. 12 ssue 5 12 SubPrime uto inance ews ol. 11 ssue 5 September | October 2016 subprimenews.com 1
JULY/AUGUST SEPTEMBER/OCTOBER NOVEMBER/DECEMBER Ad Materials: 6/28 Ad Materials: 9/6 Ad Materials: 10/18 Mid-Year Intelligence Report The Biggest Finance Companies in SubPrime Used Car Week Special >> Bonus Circulation Auto Finance – Franchise + Independents SubPrime and Repossession Executives of the Year Used Car Week Preview DealerGroups and Focus on Finance Compliance Year in Review
BHPH REPORT
op ban ruptcy trends Used-car consi nment BEST OF BUSINESS LISTING rom past 2 uarters stores blur retail wholesale lines NIADA Q1 Business Confidence Survey C P N EBSI E C P N EBSI E t s con erence time 700Credit 700credit.com DealerCenter dealercenter.com Overall, does your dealership expect economic Do you anticipate your dealership’s retail sales Which of the following factors are making it more ABCoA Deal Pack dealpack.com DealerClick dealerclick.com in the nei hborhood conditions to improve, stay the same, or decline to grow, stay the same or decrease over the difficult for dealers to secure financing for their custom- Ace Motor Acceptance acemotoracceptance.com DealerRE cardealerreinsurance.com in the auto industry over the next quarter? next quarter? ers? llies in your uest ADESA adesa.com DealerSocket dealersocket.com May June 2017 | Volume | No. 3 Q3 Q4 Q1 Q3 Q4 Q1 Factors to e the est Advantage Funding advantagefund.com Defi SOLUTIONS defi solutions.com 29% IMPROVE 36% 50% 42% GROW 55% 67% 50% Tighter restrictions Ally SmartAuction allysmartauction.com Diamond Warranty Corp. diamondwarranty.net to qualify buyer loans (credit tiers) Forgive me for preaching to the choir STAY SAME 58% 39% 48% STAY SAME 34% 26% 40% 29% Ambassador Dealer Funding www.ambdealerfunding.com Digital Recognition Network drndata.com for a moment. But consider the potential- DECLINE 6% 11% 9% DECREASE 11% 7% 10% Less access to number of lenders ly unfavorable perception some consum- www.americancreditacceptance. Equifax Automotive Services equifax.com EC N K American Credit Acceptance 10% ers — and a fair amount of lawmakers and com More verification of buyers background FactorTrust U S O Sfactortrust.com Toyota,(employment, Jeep, income, residence address,Ford etc.) lead CarGurus’ Best Used Car Awards regulators for that matter — have of the American Recovery Does your dealership plan to expand its business Do you see your dealership’s cash flow improving, 20% buy-here, pay-here dealership. How o en repo.org Fetch fetchaquote.com actor rust s latest mo e in State o the industry CAMBRIDGE, Mass.Worsening — The terms Toyota, affecting Jeep abilityand Ford to brands Association over the next quarter? (i.e. add new equipment, staying the same, or declining over the next quarter? COMPACT 1. 2012-2018 Toyota Corolla SMALL 1. 2007-2017 Jeep Wrangler are you ghting against the stigma that you Flock Specialty Finance fl ockfi nance.com As part of its continued com- were the only brandseffectively to take compete home with more franchise than one dealers of CarGurus’ American Risk Services americanriskservices.com enhance your building property) 8% SEDAN CROSSOVER/ sell overpriced junk cars at a business less mitment to the needs of buy- Best Used Car Awards this year. 2. 2011-2015 Chevrolet Cruze 2. 2012-2016 Honda CR-V FNI Incorporated myfni.com Q3 Q4 Q1 Other SUV sophisticated than children trying to drum America's Auto Auction americasautoauction.com here, pay-here dealers, short- For the second year, CarGurus announced the category24% 3. 2011-2015 Honda Civic 3. 2014-2018 Jeep Cherokee up a couple of dollars while peddling lem- Frazer Computing frazer.biz IMPROVE 49% 56% 45% It’s not more difficult for dealers ARA GPS aragps.com term lenders and the alternative Q3 Q4 Q1 winners of its annual award that identifies the best recent-year onade during the family yard sale? used models across 10 bodyto secure style loanscategories. for customers GoldStar GPS goldstargps.com nancial services industry, Fac- YES 30% 38% 34% STAY SAME 45% 33% 37% But you and I know better, right? Assured Vehicle Protection (AVP) avpadmin.com This year, the Toyota,Note: Jeep Numbers and won’t Ford necessarily brands addeach up towon 100% an Hudson Cook hudco.com NO 70% 62% 66% DECLINE 6% 11% 18% You’re more than just a dealer. You’re in- AUL Corporation aulcorp.com torTrust announced a tool called award in two categories.because dealers can choose more than one response. MIDSIZE 1. 2012-2017 Toyota Camry MIDSIZE 1. 2007-2017 Jeep Wrangler Unlimited volved in local workforce development iMetrik imetrik.com FlexFormat; what the compa- Toyota’s Corolla model won best compact sedan, while the SEDAN 2. 2013-2018 Nissan Altima CROSSOVER 2. 2011-2018 Jeep Grand Cherokee because of the transportation options Auto Data Direct add123.com C CK B N NN Innovate Auto Finance innovateauto.com ny contends is the rst indus- Does your dealership expect customer trafficCamry to won best midsize sedan. 3. 2011-2018 Dodge Charger 3. 2010-2017 Chevrolet Equinox your store makes available. You’re a credit Auto Master Systems auto-master.com What percentage of the following categories makes try standard in reporting short- increase, stay the same or decrease over the FollowingWhat in second is the singleplace for most best important compact problemsedan and facing counselor, too, because if your customers Insurance Auto Auctions iaai.com ational Director o 20 roup operations with the up your total retail automobile sales? midsize sedan include the Chevrolet Cruze and Nissan Auto Search Technologies autosearchtech.com term loan data for products fo- next quarter? your business today? make timely payments, they can be on the Interactive Financial SC BR CKIN Altima, respectively. path possibly to a prime Beacon score. Automotive Capital Resources automotivecapitalresources.com interactivefmg.com cused on underbanked consum- Market Group ational ndependent utomobile Dealers ssociation FactorTrust Q3 Q4 Q1 Meanwhile, the Jeep brandQ4 received the best small crossQ1 - FULL-SIZE FULL-SIZE As much as it might seem like you ers. FactorTrust vice president of Q3 Q4 Q1 1. 2011-2018 Chrysler 300 1. 2011-2018 Ford Explorer Automotive Finance Corp. (AFC) afcdealer.com PRIME 39% 40% 36% over/SUV (Wrangler) and midsize crossover (Wrangler Un- SEDAN CROSSOVER — the buy-here, pay-here operator who Ituran USA Inc. ituranusa.com auto nance Scott Brackin said the tool can give BHPH INCREASE 51% 63% 41% 2. 2014-2018 Chevrolet Impala 2. 2009-2017 Chevrolet Traverse limited) distinction and Ford took home awards for5% best hears all kinds of stories during the un- Automotive Personnel automotivepersonnel.com BHPH 33% 36% 40% 8% 6% 6% Katz, Sapper & Miller ksmcpa.com dealerships the ability to report more accurately. HOLD 39% 28% 42%full-size crossover (Explorer)6% and full-size pickup truck14% 3. 2010-2016 Buick LaCrosse 3. 2007-2016 GMC Acadia derwriting and collection processes Automotive Training Institute autotraining.net Keynet.com keynet.com Read story on age SUBPRIME 28% 24% 24% model (F-150). 17% 11% — exist on an island potentially work- DECREASE 10% 9% 17% 12% Autopay autopay.com “CarGurus understands that buying a car is an important 12% ing against larger dealerships with ashy Lender Systems Inc. lendersystems.com hat s een the most interesting dealer Plus, the cost of cars continues to go up. We’re at $6,500 Looking back to 2009, 2010 and 2011, those were some financial decision,8% and as a company6% we aim to12% provide shop- showrooms and more capital than they AutoRaptor autoraptor.com hy impresses Spireon C O 10%LUXURY LUXURY LHPH lhph.com average cash in deal. at’s a lot of risk. We used to mea- of the best years ever. But now 2013, 2014, 2015, 2016 and Do you expect your dealership’s credit availability pers with all the information they need to make smart pur- 1. 2013-2018 BMW 3 Series 1. 2014-2018 INFINITI QX60 can spend, story you ve heard during the irst three In which department does your dealership 12% SEDAN CROSSOVER Autotrader autotrader.com sure our money on the street in weeks when I got into busi- now 2017, this has been the longest cycle I’ve ever seen of Spireon chief executive o - to expand, stay the same or reduce over the 25% 22% 8% 2. 2010-2018 Volvo S60 2. 2010-2015 Lexus RX 350 the list- uartersManheim o manheim.com anticipate hiring new staff over the next quarter?chase decisions,” CarGurus senior editor Matt Smith said in a AutoZone autozone.com ness. Now it’s 15 to 20 months to break out of the car. In pay- subprime digging deep into the bucket. I think it was Credit cer Kevin Weiss acknowledged next quarter? news release. “With our Best Used Car Awards, we’ve identified 3. 2013-2018 Lexus ES 350 3. 2014-2016 Acura MDX ing includ- McGlinchey Stafford mcglinchey.com hotos courtesy o D ments, that’s deep into a loan. It’s very high risk and takes a Acceptance who said they think this is the new norm, which the vehicles that stand out in their categories in terms of value, ed here in AutoZoom autozoom.com Surviving a hurricane. I’ve got several dealers in the he didn’t possess a deep knowl- Microbilt Corp. microbilt.com lot of capital. I don’t know how you get into this business to- for our guys is a scary thing if he’s right. Q2 Q3 qualityQ4 and availability. the Best Houston area, and they were impacted much more than the edge of the buy-here, pay-here Q3 Q4 Q1 Berkshire Risk Services berkshirerisk.com day because it’s measured in millions up front. SALES 50% 50% 50%“For people shopping for a great used car, these award win- of BHPH FloridaMid dealers. Atlantic It’s Finance seeing how resilientmidfi buy-here, nance.com pay-here dealership and deep subprime Economic Conditions Regional players and well-capitalized companies will eaders o N B & NI descri e EXPAND 29% 31% 21% ners are definitely worth a close look,” Smith continued. 1. 2008-2018 Dodge Challenger FULL-SIZE 1. 2009-2014 Ford F-150 contains a Black Book blackbookauto.com dealers can be; how you can survive something as devastat- FINANCE 5% 15% 8% SPORTS National Alliance of Buy-Here, eventually take over. I don’t know what happens in little hat actors that might im act B P most in auto nance industries. But rundown ing as a hurricane that’s putting 600,000bhphinfo.com cars under water. STAY SAME 68% 67% 73% Along with driver Government satisfaction Regulations/Red and expert Tape reviews, this CAR PICKUP Buy Here Bank Here buyherebankhere.com Pay-Here Dealers towns. The big guys are not going to open up in small nearly a year into his tenure with SERVICE 28% 27% 29% 2. 2005-2014 Ford Mustang 2. 2011-2018 Ram 1500 of poten- To see the ability to come back from a natural disaster where are on your radar REDUCE 3% 2% 6% year’s winning vehicles were chosen based on CarGurus anal- TRUCK towns in Alabama, but they’re going to be in Atlanta, OTHER 17% 8% 13% 3. 2014-2018 Chevrolet Corvette 3. 2014-2018 Chevrolet Silverado 1500 tial allies. CalAmp calamp.com you’veNational lost power, Creditors Internet, Connection cars on thenationalcreditors.com street and possibly the company, Weiss said, “I have ysis of long-term projectedHeightened value Competition retention, from the companyFranchise said.Dealers Orlando, Tampa, Houston and Dallas. They’re going to current landsca e and otential uture Some of- CallPass Tech callpasstech.com customers.Nationwide I have Acceptance one dealer who is goingnac-loans.com to have to write In 2018, if subprime stays true to its current course, an incredible appreciation for DON’T To the right is a full list of all 10 Best Used Car Award cate- feel it in a good way, but there is a lot of debt that’s be- ANTICIPATE 42% Lack of Quality Wholesale Inventory fer tech- o 6 percent of their accounts receivable, which sounds which some say will stay for another year, and I do believe it men and women who are in this Do you anticipate your dealership’s total expenses gory winners, along with the first and second runners-up: CapitalSource capitalsource.com NCM Associates ncmassociates.com ing taken on. KE IN EISS HIRING nology to painful, but it’s survivable. ey’re doing a lot of work with will, then your ability to service your customer is going to be With conference season getting into full swing for buy-here, pay-here and independent dealerships, P e ort again (cost of business) to increase, stay the same or Unfortunately, buy-here, pay-here dealers are cash poor Spireon segment of the market. ey’re Lack of Quality Retail Inventory make your records accurate and compli- CAR Financial Services carfi nancial.com customersNetspend to get them back on track. netspend.com connected with two industry leaders who have their ngers on the pulse of what’s happening nationwide — Ken Shilson, pres- 100 percent of the time. On a balance sheet, they’re wealthy. far more important than it’s ever been. We preach it all the some of the smartest business- decrease over the next quarter? ant. Others serve up ways to nd more It’s painful, but it’s survivable, which is a really great ident and founder of the National Alliance of Buy-Here, Pay-Here Dealers, and Steve Jordan, chief executive o cer of the Na- Increased Cost of Doing Business CarGurus cargurus.com NextGear Capital nextgearcapital.com ey’ll say, ‘Look at what I’m worth?’ I say, ‘But you can’t time, but you will lose market share because they don’t have people I’ve come to know in my 40 years of work.” customers, while some can provide more thing because a lot of businesses in general are not going to to go see you anymore. You’re not the only bank in town. eat any of that because it’s on the street driving around, and tional Independent Automobile Dealers Association. Q3 Q4 Q1 nancial resources or just someone who CARite carite.com reopen.NIADA One of the things we watchedniada.com from Katrina that’s Read story on age Lack of Financing/Credit Resources you’ve got to get the payments out of it.’ Also, expense control. Dealers always tell me, ‘I’m not a Both Shilson and Jordan re ected back on how dealers have navigated the challenges of the past couple of years and how has “been there, done that” and can share di erent this time is people le New Orleans, so there were INCREASE 45% 57% 66% Car-Part.com car-part.com Northland Auto Enterprises helpingdealers.com at’s going to be a big part of the future is who has the businessman. I’m a car guy.’ What does that mean? You are a perhaps the prospects for the BHPH segment are as upbeat as they’ve been in some time. Lack of Customer Prospect Traffic/Leads some constructive feedback. no longer workers working who were buy-here, pay-here businessman and need to manage it and control what’s con- .D. yrider to le era e SecureClose STAY SAME 46% 37% 29% Carphoria carphoria.com Omnique Shop capital at a time when capital providers are stepping back. It’s all up to you which part of the Best customers. omnique.com trollable. You have to manage your expenses to impact your Other Management Software is is the kind of mar- DECREASE 9% 9% 5% of BHPH can help your store. But know Challenge Financial Services Even the banks are working with some dealers because bottom line. It’s going to become more important than ever What is the industry element that’s the same now as How exciting was it to see the mood of member deal- cfs-capitalgroup.com ket penetration level Secure- one thing — members of the “Best of Capital Group they knowOpenEdge their numbers simply aren’topenedgepayment.com going to be as good. t the same time, ho much has the as credit quality stays low and charge-o s stay high. I’ve got it was back in 1998 when you started the NABD nation- ers improve signi cantly as noted in the rst-quarter BHPH” know you’re nothing like the mis- But they’ll survive. a Ford dealer ghting for the same buy-here, pay-here cus- Close chief executive o cer Ace CliftonLarsenAllen claconnect.com Oxford Law oxfordlawllcpa.com al conference and what would you assert to be the most survey results? Considering the following marketing channels, please indicate the level of investment your dealership Source: conception and want to help make the in- is is the kind of thing where there just isn’t business uality o customer a licants im roved tomer I am. Christian envisioned as part of Collateral Protection PassTime passtimeusa.com dramatic di erence between then and now? plans to make over the next quarter. dustry better for all involved. cpiai.com interruption insurance. You can’t project this kind of thing. or deteriorated Finally, repeat and referral business also is going to be “his dream” when he launched Insurance Agency Harvey was not predictable. Steve: I’ve got to tell, it’s been very exciting to see this Paymaxx Pro paymaxxpro.com even more crucial. at’s where we might separate winners the technology company aimed Nick Zulovich, Senior Editor Collection Pros collectpros.com One of the things I keep looking for at the ground level and losers. Ken: With regard to what’s the same, success is not just con dence grow as much as it has a er being so cautious for INCREASE HOLD DECREASE INCREASE HOLD DECREASE PaymentVision paymentvision.com — because I’ve seen all of the reports from Moody’s and S&P Part of thing subprime gured out in this cycle is that they at leveraging digital technolo- Compli compli.com selling BHPH vehicles. It’s keeping them sold. at’s going as long as it has. It seems like every presidential election cy- *DIGITAL 52% 57% 3% NEWSPAPER 4% 63% 41% o PayNearMe much more risk or moneypaynearme.com on the street gy to streamline the explanation talking about securitizations in the subprime auto world — failed in the past taking customers out of the $300 a month to be universally true forever. cle always brings this level of uncertainty within business- TV 5% 62% 29% OUTDOOR 6% 62% 32% CoreLogic Credco credco.com as Wells Fargo backed way o , it’s like a game of whack-a- car payment and put them in a much nicer car at $600 a of vehicle installment contracts are dealersPeritus Protfolio encountering Services no adays peritusservices.com e biggest change is the industry is more capital in- es, voters and even the nancial markets. It seems like ev- RADIO 9% 9% 35% DIRECT MAIL 8% 64% 28% In partnership with Credit Acceptance Corporation www.creditacceptance.com mole. One big bank goes out, and then two credit unions month. Now they’re putting them at a $300 car payment on a during delivery. Now it could be Pivot Rock Solutions pivotrocksolutions.com CE C RIS I N tensive than ever before. In other words, the economics eryone takes this wait-and-see attitude about what’s going to One of the things we’re looking at as we’re reading the and a new nance company come in, and we live in an en- 2-year-old car — for 84 months, which we can debate. I don’t used in more than 160 J.D. By- CSI Eagle Group XX csi-arm.com SecureClose of the industry are changing. ere is less margin for er- happen a er November. In this particular case, I think many Wall Street reports and what Ken Shilson and Subprime An- vironment with a low cost of money and very few places for believe our customers can focus on that. ey call it payment rider stores nationwide. *Online and Mobile alytics has to say. Customers’ incomes haven’t gone up, and investors to invest with high yields. fatigue. It’s not that the car is wearing out. It’s a car bill. It was ror, meaning that training and education have never been Read story on age so much goes into down payments. You can ask for $2,000 at means for us in buy-here, pay-here, the family exciting the rst day, but then it becomes just a bill. Our cus- more important. IN S R continued on page 4
10 P P down, but if everyone in your market is o ering ‘One Buck Vol.owned 4 No. neighborhood6 type stores, I ask in my 20 Groups if tomers go to that point even quicker. I don’t how they’re go- May/June 2018 bhphreport.com 5 Chuck’ or these low, low down payments, you can’t deter- anyone has seen better credit quality. ere has been none. ing to make an 84-month loan. at takes a long time, but the 27513 NC Cary, | Lane Pointe Cascade 301 | Group Automotive Cherokee mine that. We just haven’t seen it at the ground level. payments are lower because the car is newer. IN S R BENC RKS
he 2016 uy- ere ay- ere ndustry enchmar s are more robust than e er as they
Permit No. 555 No. Permit contain data rom the ational lliance o uy- ere ay- ere Dealers the ational
E. GREENVILLE, PA GREENVILLE, E. ndependent utomobile Dealers ssociation C ssociates and Subprime nalytics.
US POSTAGE PAID POSTAGE US ore details on age PRSRT STD PRSRT
o ember December 201 bhphreport.com 11 14 BHPH REPORT Vol. 5 No. 3
JULY/AUGUST SEPTEMBER/OCTOBER NOVEMBER/DECEMBER Ad Materials: 7/12 Ad Materials: 9/6 Ad Materials: 10/18 – Best of the BHPH industry – NABD Convention Issue – BHPH Year in Review This listing is designed to be a resource These individuals shape how the industry A look at highlights of how operators for operators as well as an flourishes with their skills and commitment performed in 2018. acknowledgement of the great work and to dealers. Find out who they are in support these companies provide the industry. this special issue.
SubPrime Auto Finance News // BHPH Report 7 ONLINE Upload all artwork to Digital Advertising sacommunications.com/ad-upload
Website Mobile E-News Custom Marketing subprimenews.com bhphreport.com
ON THE GO? STAY IN THE KNOW! Readers can access the nation’s leading publication in the SubPrime Auto Finance and BHPH industry on their computer, tablet or smartphone.
FILE REQUIREMENTS 5. Filmstrip – (static or animated gif) file size: 100KB » For more specialized ads (i.e. pushdown), IAB recommends 10 6. Horizontal Bar – Same as Leaderboard AUTOREMARKETING.COM business days to assemble and test 7. Pushdown – (Must be created by ad final ad unit provided all assets are » File type: JPG or GIF. If file type is Flash, the advertiser agency – not S&A) fully functional and built according must provide a static image for browsers that do not • Max initial file load size: 60KB to spec. support Flash. File sizes below are Max. • Subsequent max polite file load size: » All ads are IAB standard sizes. » WEBSITE ADS 350KB for creative files For ad demonstrations and other • Subsequent max user initiated file 1. Leaderboard – file size: 40KB details, see the IAB guidelines here: load size: 1MB 2. Super Leaderboard – file size: 40KB www.iab.net guidelines/ 3. Medium Rectangle – file size: 40KB 8. Page Takeover – See ad rep for details 508676/508767/displayguidelines 4. Medium Rectangle In Content – file size: 40KB 9. Interstitial (static or animated gif) – file size: 80KB
8 2018 MEDIA GUIDE ONLINE Upload all artwork to Auto Remarketing Podcast sacommunications.com/ad-upload
Your weekly dose of auto industry news and conversation with top executives, specifically tailored for the used-car side of the business. Subscribe today via iTunes or Google Play.
1 Exclusive leaderboard ad on podcast delivery email
2 Verbal mention at beginning and during the podcast
SPONSORSHIP OPPORTUNITY PER WEEK - $3,000
SubPrime Auto Finance News // BHPH Report 9 ONLINE Upload all artwork to Digital Magazine Edition sacommunications.com/ad-upload
DIGITAL EDITION SPONSOR PACKAGE INCLUDES:
1 » Presentation Page (9.5” wide x 11.5” tall) is an ad that runs to the left of the front cover of the digital 1 2 edition. Please submit a 300 dpi, CMYK, PDF for all ads. If the ad is animated, please submit a SWF file in addition to the PDF. Only Flash animation is accepted. If animated, the first frame of the ad cannot be blank. Tracking URLs for Flash ads must be embedded in the file. There is no maximum file size, but the ad should be as small as possible for optimal page loading.
2 » The skyscraper ad (120 pixels x 600 pixels) displays in the right margin of the digital edition. Skyscraper ads can be submitted as PNG, JPG, Presentation Page to left of cover and Skyscraper to right. GIF or SWF. If animated, the first frame of the ad cannot be blank. A static image must be submitted with the animated file. Tracking URLs for Flash ads must be embedded in the file. There is no 3 maximum file size, but the ad should be as small as possible for optimal page loading.
3 » Exclusive leaderboard ad (728 pixels x 90 pixels) on digital edition delivery email. Leaderboard ads can be submitted as JPG or GIF. We cannot accept Flash animation for this ad. If sending an animated GIF, please be sure to create with desired number of repetitions as well as a properly branded final frame. The first frame of the animated GIF cannot be blank. Maximum file size: 700KB.
Leaderboard ad, top, on digital edition delivery email
10 2018 MEDIA GUIDE ONLINE Upload all artwork to Digital Advertising sacommunications.com/ad-upload
SUBPRIME AVAILABLE WEBSITE ADS HOME PAGE CONTENT PAGE
AD UNIT SIZE RATES 1. Leaderboard 728 x 90 $100 1 2 2. Super Leaderboard 970 x 90 $150 3. Medium Rectangle 300 x 250 $100 5 4. Medium Rectangle 300 X 250 $100 (in content) 3 5. Filmstrip 300 x 600 per slide $150 (up to 5 slides) (up to 300 x 3000) 4 *All rates are per 1000 impressions.
5
BHPH AVAILABLE WEBSITE ADS HOME PAGE CONTENT PAGE AD UNIT SIZE RATES 1. Leaderboard 728 x 90 $750 1 2 2. Super Leaderboard 970 x 90 $1,000 3. Medium Rectangle 300 x 250 $750 4. Medium Rectangle 300 x 250 $750 (in content) 3 5. Filmstrip 300 x 600 per slide $750 (up to 5 slides) (up to 300 x 3000) 5 *All rates are per month. 4
PAGE TAKEOVER INTERSTITIAL SUBPRIME SPECIAL ADVERTISING RATES
AD UNIT SIZE RATES 6 6. Page Takeover See ad rep for details $1,200/day 7. Interstitial See ad rep for details $750/day
7 BHPH SPECIAL ADVERTISING RATES 6 AD UNIT SIZE RATES 6. Page Takeover See ad rep for details $1,000/day 7. Interstitial See ad rep for details $500/day 6
SubPrime Auto Finance News // BHPH Report 11 ONLINE Upload all artwork to Email Newsletters sacommunications.com/ad-upload
FILE REQUIREMENTS TARGETED EMAIL NEWSLETTERS » Maximum file size is 700K for JPG or GIF. Email Newsletters allow Cherokee Media Group to put the » We cannot accept Flash animation in these ads. most current automotive industry news and information » If sending an animated GIF, please be sure to create with in front of key audiences. Our newsletters are only sent to desired number of repetitions as well as creating a properly subscribers, so advertisers can be certain that their branded final frame. message is getting to the right consumers. » Please ensure that the first frame for animated GIF email placements contains your branding message. In some email clients (such as Outlook 2007) only the first frame of an animated GIF will SUBPRIME NEWS UPDATE come through. In order to reach audiences in all email clients, the 1 first ad frame must include this information. SubPrime News Update brings readers » Please provide target URL. the latest news in the subprime auto finance industry and links to subprimenews.com. 2 REPO REPORT It is delivered every Monday, Wednesday Repo Report covers this and Friday to over 20,000 subscribers. growing market with 1 » 1 Leaderboard 3 contributed content as well as news briefs. » 3 Horizontal Bars It is delivered every 2 » 2 Medium Rectangles Wednesday to more than 17,500 subscribers. 3 ROTATING BANNERS
AD UNIT SIZE (px) POSITION RATE AD UNIT SIZE (px) POSITION RATE 1. Leaderboard 728x90 Top Banner $3,000 / Month 1. Horizontal Bar 728x90 Banner 1 $2,000 / Month 2. Horizontal Bar 728x90 Rotating Banners $2,500 / Month 2. Medium Rectangle 300x250 In-Content $2,000 / Month 3. Medium Rectangle 300x250 Rotating In-Content $2,500 / Month 3. Horizontal Bar 728x90 Banner 2 $2,000 / Month
SUBPRIME EXTRA E-NEWSLETTER BHPH REPORT The SubPrime Extra highlights major news 1 stories in the SubPrime market as they NEWS develop. Readers can count on 1 2 BHPH Report News news they can use — without waiting highlights major news for the next newsletter. 2 stories in the BHPH These high-interest bulletins are 3 industry. It’s delivered delivered at least two times a week every Tuesday and 3 to over 20,000 subscribers. 4 Thursday to our over 18,000 subscribers.
AD UNIT SIZE (px) POSITION RATE AD UNIT SIZE (px) POSITION RATE 1. Horizontal Bar 728x90 Banner 1 $2,000 / Month 1. Horizontal Bar 728x90 Banner 1 $2,500 / Month 2. Medium Rectangle 300x250 In-Content 1 $2,000 / Month 2. Medium Rectangle 300x250 In-Content $2,500 / Month 3. Horizontal Bar 728x90 Banner 2 $2,000 / Month 3. Bottom Leaderboard 728x90 Banner 2 $2,500 / Month 4. Medium Rectangle 300x250 In-Content 2 $2,000 / Month
12 2018 MEDIA GUIDE ONLINE Upload all artwork to Custom Marketing & Other Services sacommunications.com/ad-upload
CUSTOM EMAIL MARKETING Let SubPrime Auto Finance News or BHPH Report deliver your exclusive message to our subscribers. Custom emails are a great alternative to direct ‘snail mail’ marketing as they are delivered in a timely, measurable manner. » $4,500 per email » Maximum of 80 characters for the subject line » Format: HTML » Maximum File Size: 200KB (html + images) » Recommended width: 500-700 pixels » Use inline CSS only » All content must reside BETWEEN WHITE PAPERS
and Your data-packed white paper will be » Image formats allowed: delivered to our email subscribership of GIF or JPG only over 20,000. In addition to the custom » All graphics must be 72 dpi email, we’ll provide advertising space on See your ad rep » Text: Maximum of 300 words subprimenews.com or bhphreport.com to for details. » If hosting the images on the S&A market your white paper. Let us help you put Cherokee Web server, be sure to your data in the hands of decision makers in provide all images the subprime auto finance industry.MARKETING WEBINARS By hosting an exclusive webinar, you provide the topic, presenters and presentation materials. Cherokee Media Group will manage the process and help promote the event. The cost is $6,500 for an exclusive webinar. With an exclusive webinar, you receive the following: » Custom marketing campaign » 45-minute presentation with a 15-minute Q&A session. » Full data on all registrations (not just attendees!). This includes names, company, title phone number, email address and questions attendees may have had during the webinar. » Post event metric reporting on marketing campaign. » Archived webinars on subprime.com and bhphreport.com.
SubPrime Auto Finance News // BHPH Report 13 IN PERSON Upload all artwork to Used Car Week Conference sacommunications.com/ad-upload
SAVENovember 12-16 • The THEWestin Kierland Resort &DATE Spa • Scottsdale, AZ
14 2018 MEDIA GUIDE IN PERSON Upload all artwork to Used Car Week Conference sacommunications.com/ad-upload
Why Participate?
Data-Driven Content refreshment breaks, evening receptions, and celebratory social events such as luncheons, 5K Fun Run and the NAAA President’s Gala. And those Better position your business and career with data-driven content are just a few of the scheduled networking opportunities on the agenda. that offers actionable solutions for addressing your pain-points. Take advantage of cross-learning opportunities that will arm you with a 360° view of the used-car industry and the impacts of changing Celebrate Industry Excellence consumer behavior, new technologies, regulations and future forecasting. Recognize the remarketing and used-car professionals whose record-breaking accomplishments are inspiring the rest of the industry. Join in us in celebrating the Brilliant Speakers Used Car Awards, Women in Remarketing, Auto Remarketing’s Connect with and learn from accomplished thought leaders and 40 Under 40, Executives of the Year, and other outstanding individuals innovative industry disruptors who will engage you in conversations and companies. that will ignite your business engine and strengthen your data- driven decision-making skills. Personalize your agenda by choosing from a variety of workshops, panel discussions, and keynote presentations. Cutting-Edge Expo Hall Connect your brand face-to-face with C-level leaders, decision- makers, and influencers who are the driving force behind the Expand Your Network remarketing and used-car industry. The Expo Hall is the go-to spot Meet with the used-car industry’s smartest and most powerful for networking, featuring a curated and engaging experience with people and expand your professional network during daily today’s cutting-edge solution providers.
2016 Attendance 40+ 1330+ Hours of attendees throughout Networking the entire week of Used Car Week and NAAA Convention 2016 Educational Opportunities 7%
12% 29% 128 33 18 11 Speakers Workshops Keynotes Panel Discussion ATTENDANCE Attendance by Conference 15% BY TITLE Manager 29% 1ST BLOCK 2ND BLOCK Executive 20% Senior VP 17% 9% Director 15% 20% of attendees Dealer / Principal 7% attended the 17% full week Other 12% 652 900
Contact us to inquire about sponsorship and exhibiting opportunities.
SubPrime Auto Finance News // BHPH Report 15 and
Auto Finance News Bill Zadeits Publisher [email protected] 800-608-7500, ext. 117
CONTACT US: 800-608-7500 919-674-6020 919-674-6027 (FAX) Amanda Dunlap Associate Publisher/Advertising [email protected] 800-608-7500, ext. 121 subprimenews.com // bhphreport.com
SubPrime Auto Finance News and BHPH Report are published by Nick Zulovich Senior Editor [email protected] 800-608-7500, ext. 137
301 Cascade Pointe Lane, Cary, NC 27513
Erin Sayre Jessica Johnson Sales Support and Media Coordinator Advertising [email protected] [email protected] 800-608-7500, ext. 118 800-608-7500, ext. 144
Cherise Klug Steve Leslie Media Manager Advertising [email protected] [email protected] 800-608-7500, ext. 130 800-608-7500, ext. 156