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Choosing the right Dealer Management System (DMS) is critical for Buy Here Pay Here (BHPH) dealerships. A good DMS helps manage payments, ensure compliance, and track portfolio performance efficiently. Here's a quick summary of what to look for and how three major platforms compare:
| Feature | DealerCenter | Frazer DMS | Debexpert |
|---|---|---|---|
| Payment Tools | Automated payments, reminders | Online payments, GPS integration | Secure transaction handling |
| Compliance Features | ID verification, eContracting | IRS forms, custom contracts | End-to-end encryption |
| Portfolio Reporting | Intuitive dashboards, QuickBooks | 250+ exportable data fields | Advanced analytics, investor tools |
| Special Features | Credit bureau reporting | Starter interrupt device support | Auction management, buyer network |
Each platform serves different needs: DealerCenter integrates payments and CRM tools, Frazer DMS offers advanced compliance and reporting, while Debexpert focuses on portfolio auctions and investor engagement. Choose based on your dealership's size, goals, and operational priorities.
Debexpert's Debt Management System (DMS) simplifies preparing portfolios for auction by focusing on data standardization, engaging investors, and managing auctions. Together, these tools help improve portfolio appeal and maximize exit value.
"AUCTION PROCESS WENT SMOOTHLY. GREAT RESULTS ON BIDDING. THANK YOU."
Corey J. Oliver from Direct Access Capital Holdings also praised the platform:
"They helped us with some npl auctions that my firm had in our portfolio and not only were they incredibly knowledgeable and easy to work with, but they also set very clear expectations and not only met those expectations, but were able to exceed them by two and a half times. So we were very pleased with the results."
"The Debexpert team was extremely helpful... I would HIGHLY recommend them to anyone needing their services."
These features not only simplify auction processes but also increase the portfolio's appeal to buyers. Debexpert’s real-time communication tools further streamline negotiations, helping to improve valuations and close deals efficiently.
DealerCenter provides a comprehensive portfolio management solution tailored for used car dealerships. With 3,900 dealerships on board and over 127,531 lender decisions processed monthly, it offers a range of tools designed to simplify operations. Its core features include collections management, automated payment processing, and portfolio analytics. Here’s a closer look at its standout features:
"The entire system is very versatile, and everything is in one place - my DMS, CRM, website, and online marketing all in one! The mobile app is killer! I can scan my VINs and scan my customer's driver's licenses to save me so much time!" - Joe Brellahan, Greg Lilly Auto Sales Inc
"DealerCenter is a great system. It has excellent software management for a dealership. I love the CRM and website - I'm finally cutting off Wayne Reeves." - Miguel Valbuena, The Big Auto Sales LLC
DealerCenter’s web-based design ensures users can access it from anywhere without compromising security. Additionally, for dealerships preparing to sell portfolios, the platform integrates with Agora's marketplace. This integration simplifies portfolio transactions and allows for standardized data exports, making the process smoother for potential buyers.
Frazer DMS supports over 19,000 dealers across the U.S., simplifying BHPH (Buy Here Pay Here) operations and ensuring compliance with regulations.
Frazer DMS simplifies payment processing with its FrazerPay and PayMyCar platforms. Key features include:
In addition to handling payments, the system offers detailed portfolio analysis tools to help dealers stay on top of their finances.
The "Export Data" feature (M-8) allows in-depth portfolio analysis with access to over 250 exportable data fields. Key capabilities include:
These tools help dealers manage compliance effortlessly while gaining a clearer view of their business performance.
"Helping used car dealerships stay legal and compliant is a major part of what we do at Frazer." - Frazer
Frazer DMS is built with a strong compliance framework to simplify documentation and regulatory requirements. Features include:
| Feature | Description |
|---|---|
| Contract Management | Attorney-reviewed retail installment contracts |
| Standard Forms | FTC Buyers Guides and state title applications |
| Custom Forms | Free programming for dealership-specific forms |
| Regulatory Compliance | Automated IRS Form 8300 printing |
| Communication Tools | Integration with Solutions by Text and Textmaxx Pro |
The platform's document management system ensures that dealers can keep their records organized and compliant. Additionally, dealers can generate tailored reports with up to four saved export configurations, making it easier to standardize portfolio data for institutional buyers.
When choosing a DMS platform, it's essential to consider how it handles payment processing and collections management. These features play a key role in simplifying operations and improving financial tracking. Here's a quick comparison of three platforms:
| Feature Category | DealerCenter | Frazer DMS | Debexpert |
|---|---|---|---|
| Payment Processing | Real-time payment record synchronization | Standardized payment processing features | Secure transaction handling |
| Collections Management | Automated tools for customer communication | Standardized collections features | Automation for managing outstanding accounts |
Each platform has its strengths. For example, DealerCenter focuses on real-time updates for payment records, while Debexpert prioritizes automation for managing overdue accounts. These differences can directly influence portfolio metrics and even the potential exit value of your portfolio.
When selecting a platform, think about your transaction volume and operational needs. The right choice will align with your current priorities and support your long-term financial goals.
Here's what the analysis of Dealer Management System (DMS) platforms reveals:
Market Trends
In 2021, the U.S. used car market expanded by $153 billion (a 7.7% increase), with an estimated 40,000–75,000 dealerships nationwide. This growth highlights the importance of strong compliance measures and efficient portfolio management for dealers.
Compliance and Risk Management
Modern DMS platforms incorporate automated tools to help dealerships avoid compliance pitfalls, such as illegal repossessions, and ensure adherence to CFPB regulations. Key features include:
| Feature | Business Impact |
|---|---|
| Automated Compliance Checks | Avoid legal violations and maintain CFPB standards |
| Real-Time Payment Tracking | Minimize risks related to unauthorized collections |
| Automated Notifications | Ensure timely and consistent customer communication |
| Accurate Audit Trails | Satisfy regulatory requirements with detailed logs |
Portfolio Management Tools
The Association of Dealer Management Software (ADMS) encourages standardized data practices, which help dealerships:
These practices are crucial for maintaining data integrity and ensuring smooth bulk sales.
System Integration and Support
Effective DMS platforms go beyond compliance and data management by offering easy integration and reliable support. Comprehensive training for legal compliance adds even more value.
For Buy Here Pay Here (BHPH) dealers aiming to grow their portfolios and achieve strong exit values, the ideal DMS combines advanced payment tracking, automated collections, and standardized data management. This combination drives better efficiency and boosts portfolio value.
More than a decade of Ivan's career has been dedicated to Finance, Banking and Digital Solutions. From these three areas, the idea of a fintech solution called Debepxert was born. He started his career in Big Four consulting and continued in the industry, working as a CFO for publicly traded and digital companies. Ivan came into the debt industry in 2019, when company Debexpert started its first operations. Over the past few years the company, following his lead, has become a technological leader in the US, opened its offices in 10 countries and achieved a record level of sales - 700 debt portfolios per year.
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