Back when I started my first "Buy Here Pay Here Lot" in the good ole days.

I started my first Note Lot in 1975 when you could buy a good note toter for $700 to $800.

you would sell 30 easy per month with 0 advertising.

Sell the car for $500. Down at $2995.00 to $3995.00 just whatever you felt like pricing the car at that day, and get $25.00 per week.

So you sold a car $500 down your out of pocket is $200 to 300. Dollars so you would recoup your money back in 6 mo or less so the next 75 weeks were profit.

Unless you repo the car then the gravy hits.

First you sell to anyone breathing, because you’ve already started selling to every customer’s Family Member and it was easy you call there aunt or their mother, or grandmother and they either bring the car back or Grandma makes them pay.

There were those that would bring the car back after paying a few months, say they lost their job or just spent their money, you put the car back on the line sell it again for $500 down and get the same price, price did not matter as long as they could afford those weekly payments, then the same people who brought their car back would come back in a few months and start all over again.

The ones you had to go repo, I remember my fun on weekends was I bought a wrecker, my wife and my repo man and his wife would all pile up in the wrecker and spend our week end nights repoing our non payers, and you did not get over 2 weeks behind, did not matter who you were, have even had to go get the preachers car always knew where it was Sunday morning, and it seemed people in those days had a different attitude they usually laughed it off, but always came back and bought another car.

Repairs, well cars then cost $125.00 to rebuild a transmission, if you had to replace an engine $250. To $300.     No electronics just simple

So the process is not as simple as it used to be laws have changed, cars have changed, and the customer base has even changed

Still the basic same process the customers have no more money now than they did 35 years ago, they still only have $500. To pay down, the payments are $75 per week now same type car cost you $4 to $5 thousand now you are loaning at least $3500 to $5,000 per car repair can exceed the cost to replace the car it now takes over a year to recoup your investment, and then finding the dam thing if you have to repo it.

Times have Changed !!!!!!!!!!!!!!