Capital for the LHPH Industry

Creating financial flexibility one dealer at a time

Lease-Here, Pay-Here: DMS

Kevin Londerholm  |  July 29, 2020

When setting up your Lease-Here, Pay-Here program at your dealership, one of the most important decisions you can make is selecting the right Dealership Management Software (DMS).  This platform will be responsible for tracking leads, driving sales, collecting accounts, generating your financial statements, and much more.

Dealer Socket https://www.dealersocket.com/ recently published an article detailing the 10 steps to take as an auto dealer when selecting your DMS:

  1. Know Where You Stand: Audit your current DMS bill and identify any costs that aren’t necessary
  2. Assess the Market: Application Service Provider vs. Software as a Service
  3. Create Your List Needs: What do your employees like about your current system?
  4. Create Your Vendor Prospect List: Talk to fellow dealers through 20 Groups
  5. Demo Your Prospects: All of your key managers should participate
  6. Be Real About Pricing Costs: Ensure Pricing covers features and functionality
  7. Select Your Vendor: What do other dealers say about the DMS
  8. Map Your Installation: Spend time prior to the installation preparing for the conversion
  9. Plan Your Training: In-Person, Online, and Video Training
  10. Evaluate and Tweak Your New System: Keep a running log of questions

 

Reach out to us at LHPH Capital if you would like to discuss the DMS options in the market that provide a Lease-Here, Pay-Here module!

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