#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.

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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.

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