Replies to post #2905 on Value Microcaps Free-For-All

[allmanchase]

I have been in the retail automobile business for 28 years, two of which I spent running a "Buy Here-Pay Here" dealership. The folks paying 29.9% APR have earned this ignominious right and these outlets are the only thing between the clients and public transit. We expended hundreds of thousands of dollars attempting to "locate" our clients and our security interest, often times paying bribes to relatives to snitch out their deadbeat relations.

So much of the loan was "charged off" that we often struggled to recoup 25 cents on the dollar. So the 29.9% is not the reality at the end of the day.

The ability to instantly locate and disable a vehicle for a BHPH dealership could add oodles of bottom line. I took one look at this deal and saw huge potential.