#119 Secrets of automotive's most controversial business, Tackling 90% in-house financing, Economics of buy here pay here dealerships | Jeff Watson, Owner of IV Seasons Auto

Welcome to the Car Dealership Guy Podcast. In this episode, I'm speaking with Jeff Watson, Owner of IV Seasons Auto where we discuss: Secrets of automotive's most controversial business, tackling 90% in-house financing, economics of buy here pay here dealerships and much more. This episode of the Car Dealership Guy Podcast is brought to you by: DLRdmv - Everyone knows out of state titling is a major headache. It doesn’t have to be this way. Our friends at DLRdmv have created a program called DLR50 - A revolutionary approach to 50 state titling. With DLR50, your dealership now has 24/7 portal access to calculations, pre-filled forms, checklists, inquiries, plus white glove processing and specialist support. You can even acquire duplicate titles in all 50 states directly through the DLR50 platform! Visit https://www.dlr50.com/ to learn more. CDG Recruiting - Building on the success of my industry job board, I’m launching CDG Recruiting — a more hands-on, white-glove automotive recruiting service. Our team has decades of experience and has successfully placed over 1,000 roles in the automotive industry. So if you’re ready to find your next rockstar employee, try CDG Recruiting today by visiting cdgrecruiting.com Interested in advertising with Car Dealership Guy? Drop us a line here Interested in being considered as a guest on the podcast? Add your name here Topics: (00:00:00) - Intro (00:02:46) - Jeff’s background and career (00:09:16) - What’s your average sale price? (00:09:46) - How do you account for profit? (00:11:42) - How do you compensate your Sales Manager if you’re running the retail shop at break-even? (00:13:33) - Where did you learn to do all of this? (00:18:20) - How are you able to get such great reviews? (00:19:38) - Who reaches out to customers? (00:22:03) - Why is 36 months the minimum you target? (00:23:17) - What’s your breakeven period on average? (00:24:16) - Where are you sourcing vehicles? (00:26:45) - How has your business changed since Covid? (00:32:00) - EVs (00:33:37) - Floorplans (00:34:37) - What are the economics of the lending business? (00:38:19) - The Independent Dealer Podcast (00:44:51) - What’s next for you? (00:46:47) - Closing thoughts Check out 4 Seasons Auto Sales here. Check out Car Dealership Guy’s stuff: CDG News ➤ https://news.dealershipguy.com/ CDG Jobs ➤ https://jobs.dealershipguy.com/ CDG Recruiting ➤ https://www.cdgrecruiting.com/ My Socials: X ➤ https://www.twitter.com/GuyDealership Instagram ➤ https://www.instagram.com/cardealershipguy/ TikTok ➤ https://www.tiktok.com/@guydealership LinkedIn ➤ https://www.linkedin.com/company/cardealershipguy/ Threads ➤ https://www.threads.net/@cardealershipguy Facebook ➤ https://www.facebook.com/profile.php?id=100077402857683 Everything else ➤ dealershipguy.com This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions.