Wake up, Buy Here, Pay Here people. It's a beautiful day. Go grab yourself another cup of Joe and say hello to Jim and Michelle Rhodes on the Buy Here, Pay Here morning show. Take it away, you two. Okay, so we're here. Yeah. We're a little late. Yeah, well, we're delayed. We chose a delayed start time today. I was like, there is no freaking way I'm going to be showered. Michelle's being a trooper this morning. I don't feel good. She's definitely operating on partial battery. I thought you changed your thing. I was going to change your battery. I did. The bottom part says 18% battery. Oh, 18% battery. Because you were like, how much do you have? Actually, it's less than that, but okay. Yeah, she's rounding up. I put mine at 81 points. By about 10. Yeah. So Michelle contracted whatever it is that we have. The creeping crud, as my mother always called it. The creeping crud. I mean, I swear to you, Vegas is like a cesspool of a lot of things. You think you came from Vegas? Well, you got sick right after we got done at Vegas. I started feeling sick on Sunday morning, I think, after we basically left Vegas on Thursday. But here I am. you know, on the mend, I put my battery power to about 81.7%. That'll probably change by three o'clock this afternoon. But, um, yeah, we're just kind of, we're, we're, we're suffering. We're fricking committed to being here. That's what that says. So, um, yeah, so we, uh, I, last night, Jim, we're like, okay, podcast, and then he told me what he wanted to talk about, and I was like, all right, I'm 50-50, may or may not, but really glad to be here. It's been, yeah, I am, I always am. Eventful stuff, yeah, last few days. Yeah, it's been a lot going on. It's been a full week with a couple of V8 meetings, and then we've had a number of things kind of on the... that were kind of in the hopper ongoing conversation about the DMS thing, which is a big part of what we'll talk about today. And then with our V8 groups, we've had a couple of things and we've got, um, we got our first commitment for our V8 group five. So we, yeah, that's, that's a group that is going to be 500 to 2000 accounts. So, um, and if you're more than 2000 accounts, I'd love to hear from you if you have an interest in that format, because we may have an opportunity to create something like that. We've talked to a couple of people that seem to have interest in, um, in that as well. So yeah. I'm like, I can't stop moving. Sorry. We've been spending this morning kind of comparing symptoms. She doesn't have exactly the same symptoms, at least not yet that I went through, but hopefully she will be able to sidestep. Let's not talk about being, you know, what, what you, what you, what are they? My best friend is like, what you focus on expands or what you focus on, you attract. So let's not talk about, let's talk about, you know, let's focus on ice cream. Yeah. Oh yeah. Yeah. I always like ice cream. Yeah. Um, so, uh, we wanted to give an update on where we were at. We, we did a, before the conference, uh, was that how was it last week? That was last week. Man, it goes by so fast. Before the conference, we sent out some emails to DMS providers. And, and we just wanted to give you that's one of the things we want to talk about was giving you an update on where we're at. And I think before we dive into that, a couple quick things. Had a nice conversation with Brent Carmichael yesterday. Oh, yeah. We're going to have him on the show sometime soon. Yeah, yeah. As most know, if I haven't received the announcement, they announced at NIEDA on Wednesday morning, I believe, at their general session, maybe Tuesday, that Brent was joining NIEDA at January 1st. as the director of education. Um, and one of the things he sees is that the response has been overwhelming, um, uh, that, you know, of course he's going to have some of his, um, groups that he moderates right now that, uh, like what's happening, what's happening, but all of the buy here, pay here groups that he had are being shifted over to NADA. So, Yeah. I mean, I think basically if you're one of his group members and you're just coming back from Antarctica or someplace and been, you know, off the radar, then just know that, yeah, it's almost no impact to those people that are over there with NCM with Brent now. It's just obviously going to be about a six month transition. And so, yeah, it's all good. And we're thrilled for Brent. We're, you know, and I think what it says to us is somebody that, You know, it just increases our likelihood and willingness to cooperate with an idea, you know, call that all the initiatives. Yeah, we're pretty happy about. Yeah, I'm happy for him and happy just for the industry because it's going to be just a huge it's a win for the industry. And one other mention, too, we got word through social media this week that Jared Halstead has become the interim executive director of IADA. So, yeah, we're familiar with that organization, know Jared well, and we would call Jared a friend of the broadcast, a personal friend. And an avid Android user. There you go. I'm finding there are a few more of us than I thought, Jared. I thought at one point it was just you and I were the last holdouts, but we found a few more. No, there are a few. And it's funny because we still go through this thing that Jim will say. I have to go through and scroll each one of the windows that I have open to shut them all. And he's like, oh, I just pushed this button. Boom. And I'm like, you think you're better than I am, don't you? Well, I think my device... It's better than yours in many ways. So I don't know if that's what you meant. Apple Android. It will be an ongoing debate probably till the day we die. And I doubt that Jim will ever convert just because he likes to have fun with me. Yeah, now I'm just kind of, it's part of my identity. I have to stay, right, just to kind of poke. So, yeah, I don't want to lose my opportunity to poke. My poking ability. Yeah, right. Oh, I love you, honey. I love you back. Let's dive into our topic of the day. I think before we go into the email thing, I wanted to share the screen, if we can. Let me get the spreadsheet on the screen over here. I'll do it right here, honey. Let me do it. Let me make sure I have the right screen share. That's going into the email. And I thought I was sharing this other spreadsheet. So let me go back. Okay. You can take it down for a minute. I'll take it down. Let me get this out. You know, this is a special day. You kind of get to see behind the scenes in Jim's email box. Yeah, that's right. Inbox. Let me stop my sharing and redo it. well it's part of that whole transparency thing it is and and it's it's funny because you know um unless it's something that that has to be kept under wraps because of you know contract or things like that there's just no point in not sharing what's happening exactly yeah so well shoot I'm uh I don't know if I got Oh, here we go. This is the right spot. I'm a little still. Yeah. He's only at 81%. Yeah. And it's my, at least you got the whole weekend. What? We got the whole weekend to do nothing. We mowed the lawn earlier this week, so don't have to do that this weekend. And yeah, I'm feeling better. I'm going to go out and party. And if I can leave some chicken soup or something, I just want hot toddies. Yeah. Yeah. Yeah. uh let's get the spreadsheet up and then we can share the screen so there we go I think it's ready now we're up here all right so you know I think I shared this in um prior uh podcast I can't remember if I went into this much detail but I just kind of wanted to uh have our listeners especially dealers and their controllers and you know all the folks in management even their accounting people could could um you know benefit from this information so I, because of my experience in working inside the DMS as a former dealer and having worked with dealers, you know, all over the place and all the different DMSs and helping them create reports, I was able to kind of frame this out and provide it to everybody and Basically, what we're looking for is what we're calling a portfolio summary report or principal summary report. It's basically just identifying the principal across a range of time. Typically, it would be a calendar month, and you would say this is our opening principal balance. We're looking at it just globally. I'm just trying to get a global report so that dealers can see. Because for my purposes in working with them, what I want them to have this information for is primarily for management, like day-to-day management, month-over-month management to be able to look at this kind of thing. And this helps with lots of this information alone helps us to help them produce really useful management and performance reports. So just this report. Just this report, yeah, by itself will allow us these key pieces of data. Mm-hmm. Not only do we get these pieces of data, but we confirm in this method that everything's accounted for. Even though I use the word accounted, we're not trying to do accounting here. I've had to say that to a couple people. It's not your overhead. It's just your portfolio. It's the portfolio, which we all understand is the largest asset of the business. Talk to me about why this is helpful to all dealers. Well, because when we can track the movement in our portfolio, so just think about this way. So our largest, if you're a dealer with a $25 million portfolio and your portfolio goes up and down, new contracts added, accounts collected, accounts charged off, et cetera. So it moves up and down. And what I want dealers to be able to always identify, like I want her to walk in on the morning of the 1st and be able to run this report and say, our portfolio in the course of last month moved by this amount, certainly principal. We're just trying to, in a simple interest environment, we're trying to do principal. And by the way, we're extending the same thing for leasing. We want to see the same thing for LHPH. It's like every DMS provider. We would hope that they would be able to provide this in that format as well. How does it help? What is it that it shows to a dealer? First thing it does is it lets the dealer identify their rate of collections. Okay. So how well they're converting. There's a lot of different ways people look at that. It's like, what's your recency? And I know that you're someone that's like, that's really not a good number to look at. Well, it's one of many. And it's like, you know, there's probably five or six numbers that I would want to look at. But if I can only have one on a monthly basis, I would want to know how much. It's like this is on your desk and you're going to be able to say, this is how we do it. i want to know you know as a dealer the first things I want to be able to see is how much principle did we collect as a percentage of the principle that we had in the portfolio to start the month because that number helps um any dealer and we're going to be teaching them we're going to educate them through this podcast on how to do this because you know we have you know dozens of dealers in our v8 program wonderful how many buy here pay here dealers are there supposed to be across the country the lowest number I hear is about 14 000. yeah And we want them all to have this information. Will some of them use it? Some of them won't. Right. But it's like we still want them to have this available through their DMS. And so we're just saying this this information, if I could, if as a dealer, I could walk in and say, OK, we collected this much principal as a percentage of where we started and we charged off this much principal as a percentage of what we started with. And that helps to drive lots of important calculations, lots of important formulas, conversion rate, collateral recovery rate, all these different things. formulas that people use. And I think that, you know, if you're a lender, you would like to know that this report was available. You'd like to be able to see that there's a good summary report that says started here, ended here, you know, boom, boom, boom. So this is, this report is, is not so much getting into the weeds, but this is a really good high level view of what's happening in your book of business. Yeah. And I could even argue that it's both high and mid level. It's like it's yes, it's high level for the dealer, but there's a lot of people on the management team that would also benefit from this. And also you're getting quite close when you have this number. Let me think about the pieces. You have almost everything you need in this report to be able to produce your adjusted gross profit. So, and then there's, there's cashflow considerations too. So we're obviously working with dealers all the time to help them. We've spent a lot more time in cashflow than we do profit. And we, that's a whole different. Yeah. Yeah. If you, if you talk to the, the old dogs in this industry, it's like cash is that's, that's really what you're. what you want to be yeah and we had a confirmation of that last night in our in our group meeting that's our newer dealers we talked through some of the math and said this is how we um you know we want to calculate this and how we want to help you arrive at numbers and they you know these dealers basically confirmed yeah I don't have that information at my fingertips now not this particular report doesn't solve all the pieces that we were talking about in that conversation but it It certainly goes a long way toward helping them first identify their receivables. Yeah. And Vic Everett, DMS should make the availability to create the principal report a priority. Vic is one of our, he's actually one of the dealers that you met with last night. Um, and, and it's, and so, you know, it's, it's, it's an important report. It's a good high level, mid level report. It's going to give a dealer, um, that just wants to see like, what is a snapshot of where I'm at, what's happening. And, and so what are some of the things that, because you know you can do one but then you're going to start comparing month after month right right with this and so what are some of the things as you're comparing you know month after month uh what are some of the things that you're going to be watching to see um that that might be an indicator of something that you need to take a deeper look at well I think part of Let me, that's kind of a big question. I think the, if I were. We don't talk about these beforehand. No, no. He just lets me just go. Oh, yeah. I love that you're able to kind of take that perspective. I would say that the single biggest thing that a dealer can do with this report is look at, let me give a couple numbers. Like on this sample report that I've got loaded up, let's just look at the finance company. And I just threw sample numbers in there to kind of help people see how the calculations would look, right? And just kind of get a feel for what's happening in the math. But the, if I could know how much principal I collected just in the finance company, I know how much principal I collected. I know how much interest I collected in that calendar month as a percentage of where the month started. That's a really strong ongoing longer term indicator of how well we're collecting. So like if your percentage is, I mean, what's a good healthy number? 6% is pretty common for the combination of those. It's so funny because it's like a single digit number that sounds awful, but it is for overall for the full principle that's still owed on the portfolio. So 6% on a given month is good. So if you're seeing it dip to 4% or whatever, then it's just like, oh, something's wrong. Something needs to be fixed. Yeah. And I think before that, I mean, I didn't even really try to explain to the DMS providers what all could be accomplished with this report. I mean, I'm happy to have a chance to talk about it today. But there's this is just one element of what I think dealers can do with this. And I asked to have it globally because I think if I could if I could have a dealer just have it because, you know, you might have. And any given close of a month, you might have still 10% of your portfolio over in your dealership side and part of it and the rest of it over in your RFC. And I just globally, we just want to see how is the portfolio performing and can we identify all the money that moved in and out of that portfolio? Yeah. And, you know, we we we've talked to a lot of different DMSs. And so, you know, we say we want this and then they'll say, well, you can do this report and pull this from this and this report and pull this and this. It's like we want a report that a dealer can schedule in their DMS. Sure. that when they arrive at their dealership on the 1st, they're going to see what it is that happened last month. And it's a simple, it's because all the numbers are already in the DMS. It's just putting them together in the proper order so that you can spit this out. So this is actually, this report is something that we're asking DMSs to make available in their catalog of reports that that a dealer can run and that we're asking is just be one of the just the many reports no extra costs that kind of thing so every dealer out there has the ability it's going to be we've asked them to to call it a white hat white hat way or white hat white hat way yeah um report and so that we will also be like jim said um teaching on this in the podcast so that you know the dealers can understand more and more about about this so are you are you ready to kind of jump into the conversations we've had Almost. Let me get a couple of quick things on. So on this report, I think it's, it's noteworthy because you know, we're, I sent an email this morning to all the DMS providers, kind of an update on what what's happened at the conference. And since the week that we've been back and they would have heard from us earlier in the week, had we not both been under the weather, but I think, Now we just got an update out to them and wanted to take this opportunity to kind of, you know, it's one thing, Michelle, to use the word transparency and say, we're going to be transparent. This is us being transparent, showing. Uber transparent. We're just showing what transparency looks like. It's like we're on YouTube this morning. So we're talking to everybody and saying the same thing to everybody. And it's like, the idea is that we're not, there's nothing here to favor anybody except put good information in the hands of dealers. They have an important job for everybody. And so they have an important and difficult job to do. And I just want to do anything I can to help make it easier. And I think my perspective on some of this stuff helps me to, uh, you know, to, to get there. And, um, so I this is part of what this is about one thing I want before we leave the screen I want to say that I recognize certainly as somebody's been around dms you come from a technology background this this report if you look at the your you got a receivables um report most of this would be inside receivables and or general ledger on receivables and so I hope that systems are able to produce that fairly easily but when you look at amount finance that might come from the sales section in other words some dealers would go to their sales report to capture that information but obviously it comes into the finance side so it's a question of how you pick that up and you start to see this is why it's difficult for dealers to find this is a simple one but they get a little more complex but now Principal collected, that's typically going to be a collection report. Principal charged off, that's going to be a charge off report. Now, collections and charge off should both be over in the collections module of the software. But I'm simply saying I recognize that when you ask for things like this, we do have enough experience. And 20 years ago when I was first consulting, I worked with a company that was more software than consulting. And so I've been around this stuff and I have some understanding of it's not necessarily a simple ask. And so when these people agree to step forward, it can be a bit of a lift. on their side to create this but we think it's important and we're we're we're happy to shine a light on those who are willing to put forth the effort to make this happen yes right yes right so I think this is the part that you know we just recognize it's a bit of a thing and so we want to we want to make sure that people are clear about what it is we're asking for one of the reasons we want the white hat way name on there is we just want everybody everywhere when we talk about on the podcast we'll go find this report yeah and look for that name and that way you'll know And like I said, there's a lot of DMSs that are like, well, if you go here and you go here and you go here and you put these numbers here and here and here... I appreciate the help and the guidance on where to go, but it's interesting because when we look at the dealers that we're aware of and the dealers that 75% of the dealers out there are not big they're not they're not them they're not the the mega dealers so most dealers are um you know they're smaller dealerships and and most dealers don't they're not numbers nerds right and and that you know especially when you get into a dms and it's just like it's daunting It's daunting for even some of these, because I have some tech background. It's daunting for me to get in there. It's like, holy crap. No, it can be. It definitely can be. Part of this, too, creating this report is to help dealers at all levels of understanding reporting and, and all of that to, to be able to, to get a good view on what's happening in their portfolio. And it's been interesting as well, that even dealers that have been around for a long time, they've just, you know, we've, we've seen examples of dealers that have just, you know, you just, you're a Frankenstein put together, how they keep, you know, how they keep things they're doing their reporting and how they're keeping things running and where they go to, to do some of their, their reporting or how they're attributing things. And, and it's, and it's because, you know, there's just not, there just hasn't been, unless you're in a 20 group or a, something like that. And, and even then, you know, we, we see people, it's like, it's pretty janky. Um, but it's just, it's not something that anyone really is out there trying to educate on like, this is, this, this is going to help everybody. It's, it doesn't matter if you're, if you're a member of your state association, um, It doesn't matter if you're a member of a 20 group. This is something that's going to help all dealers. We had a couple of providers already in this conversation say to us, maybe our 20 group, we produce this stuff for 20 group, maybe our 20 group. Has anyone ever, like it's not in a 20 group, pulled a 20 group report? I mean, they're great because there's lots and lots, but it's so much information. Yes, and they don't all balance. So this is the part that I'm saying, before you send me there, go make sure it balances because it doesn't all jive with what I'm doing here. Yeah, and that's been one of the things when Jim sent out this email to all of the DMS providers, he's like, when you can get it created and it balances we'll have you on the show we'll talk about it you know it's like it's it's great um great publicity for for the dms and you know it's like these are the ones that are stepping forward to do that so we have a few that have um we do that have uh already they're already in um in process um of doing this and so did you want to talk about that um sure no I think um we can uh get into this yeah go ahead and share this and we'll get inside this email so um so basically what I wanted to have a chance so this is showing who jim sent this email to right and so you want me to go through it I mean just sure so so basically initially I sent it to every dms provider that I had an email and was familiar with As I did that, I inevitably thought of a couple more and you added them. And then at the conference, we were able to meet people and get their business cards and come back with their emails. And so today I've even added emails of some of the other, you know, principles with the company and and or developers. and some of the people that we've had dialogue with since. So I'm just simply expanding it. And obviously, it's kind of annoying to have group emails and this kind of thing. So we're trying to keep that to a minimum, but it's part of how transparency has to work. I have to make sure that everybody understands. I'm saying the same thing to every provider. This is not something where we're playing any favorites. This is all on behalf of dealers. And so this is an opportunity for us to work together. And so as I read this thing, what I just wanted to kind of open up, because it doesn't show it exactly in Gmail, And it scrolls down. There's more people than what we see on the screen. Oh, yeah. There's a ton of people on this list. And then I also carbon copied, again, our founding sponsors, Tim Lawrence and Tim Bird and Chris Machica and the lovely Michelle is copied there as well. Now, so you get that part. And then here's what I said. I said, happy Friday, everyone. Please forgive yet another open email. I trust that you all recognize why such transparency is appropriate in a situation such as this. First, a few additions to the email thread after conversations and connections at last week's NIAID convention, plus a few that occurred since. So I added Jason and Pierce Reeves. It was great to meet those guys. I've known them. You know, what happens at these things? There's so many people that you know by face. You see them in the hallways and the expo hall all the time. I've just been around this thing for 20 plus years. And there's all these familiar faces. So, you know, I've known that company, right? And it was nice to be able to talk to Jason and to Pierce, you know, that first day we were there. And then Bob Higgins, I've kind of known. He's with kind of their business development or business relations, I think is his title. And so we added him. Then Honey... Kusumodu, I'm going to say, is who Eric Au had suggested, and we've got copied in the thread with her already. Ashton Asizi, I hope I'm saying your name right, Ashton, that that was somebody that DealPack asked to reach out to me. We actually had a virtual meeting with them on Monday, and they're working on it. DealPack is certainly among the ones that are you know, striving to, to create that. And then Evan Johnson, we met at, at the dealer center booth. I remember Evan and who's the one that was over collection or not collections, but the support. I don't have his information. I thought that we had grabbed a, a, We may have a photo. Yeah. But it was, it was really pretty sweet that, you know, we started talking with Evan and he shows us his phone with the logo from dealer center shows us the picture of the podcast. And he says, we watch this in support for training and, So it was like, thank you. And he says, cause there's not a lot out there for the people that are not part of the industry in, in like dealerships and all of that for them to understand the challenges and all of those that dealers are experiencing. So just a big shout out there. Thank you. Thank you. Thank you. I'm going to scroll a quick um oh sorry I'm just no that's okay uh so and and I I'm glad you put in here the the the response from from the folks at fraser fraser's going through um really big um development yeah and um you know updating and all of that and so they basically see a blanket apology for coughing sneezing and sniffing that would be me um uh but they you know they let us know that until this is done that they're not going to be able to really put any kind of um resources towards doing this but you can you can Be guaranteed, all of you out there in listener land, as soon as that is done, we'll be right on it. And it's, you know, so we'll get them. We'll let users know. We obviously work with a lot of dealers that are Frazier users, right? We do. And so that is disappointing to hear that that wouldn't make sense in their development right now, that they couldn't really give time to that. And it's okay. Like, we get it. That happens. And we have our own roadmap. And, you know, coming from a tech background is you have to draw a line in the sand because Because little things will come up here and there and from every corner and completely disrupt your roadmap. Sure. Yep. And as we continue to socialize this, hopefully people will, you know, be able to better justify kind of rearranging this on their roadmap. So a huge shout out. Mike Downey was one of the first people that reached out to us. He was. Yep. Yep. And, uh, you know, of course I've known Mike for 20 plus years as well. And so he's somebody that, uh, yeah, he right away was said, yeah, we'll go to work on it and see what we can do. And so we, I have every confidence that we'll figure that out with them. And so, you know, that's auto masters AMS and they have a wonderful reputation for customer service. And obviously they, uh, Mike and I have had these conversations in the past, and so this is something that I- Well, you know one thing I really appreciate about Mike is because we typically don't mention names when there's a complaint, when there's something good that's happening. It's like we're this person, this whatever is, but we typically don't just because it just doesn't feel- It feels kind of crunchy when you're like, come on. That's Michelle's new favorite word. That's my new favorite word. And whenever we talk about DMSs and our challenges with DMSs, Mike is almost always on the phone calling Jim sometime during that day. It's like, hey, is it us? Is there anything that I can do to help you? And I really appreciate that he's been really, really proactive. Yeah. I have a ton of respect for Mike and obviously they, their, their users have good things to say about AMS. So, um, then the other one was Alex at auto matrix. I saw Alex at the convention hall, but we never made it over there to talk to them. And it just happens, you know, these expo halls, you, you connect with people and you're catching up. Or there's people that are standing there talking to them and you don't want to, it could be, it could be, yeah, exactly. So that happens too. But yeah, you inevitably, you leave the expo hall and darn it, we never connected with so-and-so. We were planning on going back on Thursday and it was like, okay, we have like four different people that we didn't connect with. So let's go back. Yeah. So we went back over, yeah, before we headed out. Uh, that's true. And then, um, you've got, uh, so I mentioned Alex at Automatrix. So you got Michael Sansone in Virginia. Um, with them and we also are going to schedule with them we we already had a virtual meeting and they expressed a clear willingness to do that by the way in in dealer controlled solutions what you've got is a browser-based system and they they offer both buy your payer and lease your pay here so I think it's going to be you know something that that was uh that was um rick reeves That's right. They called it AFS. I forget the acronym. The Sansone father-son duo purchased that. They're in the franchise business and now the software business. Virginia, who's the developer that Mike Downey and I both worked with 100 years ago, It was good to see Virginia at the conference as well. Always. And so then, so yeah, so she's with Dealer Control Solutions. Then the Wayne Reeves team that we mentioned, including I met Kevin Scott, who I've kind of known through social media, but we had a fun conversation around that. That just happens that people that you know through social, but you don't get a chance to meet in person sometimes for later. And I don't want to forget, oh, Dealer Center expressed a willingness to attempt to accommodate. And I hope we'll be able to work with them. They did. And I checked, I was actually in their system this week with a dealer. Cause I haven't got deal. I've got direct access for reporting with several of the dealers through our V8 thing and some other clients. But I was able to check and see if I could produce a, I can't come close to what I'm asking for here. But I think the other thing is we had a fruitful conversation with them. They expressed a genuine interest in cooperating to create reports that we think are going to be useful. And so I certainly appreciated their willingness. And I have, again, every confidence we'll figure out a way to get there. Uh, because their system, you know, it's pretty capable. It's, um, it's, uh, it just got some, it's, this is something that could really benefit dealers and we work with several of them that are dealer center users. IDMS has acknowledged the request, um, though we don't have any indication. We don't know how, uh, how willing they are to do this. I will say about IDMS because of our work with other clients, IDMS is one of the ones that we can, we have to run about four different reports and bring the numbers together, but we can balance to the penny in that system. So that's something that's noteworthy. So I think we've had the conversation. It's like, what does IDMS, um a one percent or whatever of of you know balancing up to one percent for some of these bigger dealers that's a lot of money is that popping up that is I can stop sharing hey jared I sent him a text, and my phone's connected to the device, so it's useful for sharing. So we'll finish this up. But, you know, I just wrapped up by saying for convenience, I attached the proposed layout, which is the spreadsheet I showed at the beginning. So if there's anybody out there that we have not talked to or that we, you know, was not on this list of people. Please let us know. Please let us know. We will email you the spreadsheet that has all of the things. Yeah. And, you know, let's just let's let's get this. Let's get this done so that it's because, you know. There's very little in the industry that is standardized. Right. There's very, very little. And to our detriment. The hair stands up on the back of my neck when you say standardized because I don't think you're going to get to standardize in this fiercely independent space. True, but there are things that, you know, if we can start to compare apples to apples. It will help. And, you know, one thing after another. And it's not about let's standardize what your interest rate is or let's standardize. But let's start with standardizing reporting and how we are attributing things in our DMSs. There are people in cubicles this morning who work for lenders that are going to great lengths to produce some of these numbers that we're talking about. And they're over there saying, yeah, let's get that. You know what I mean? Let's also get that. through this kind of report, he's talked to a lot of the different lenders and it's, and shown them into it when we, when we're discussing different things with clients of ours. And it's like, it's, you know, it, it, they get it. So, so it's, it's not about, it's not about, you know, we want to turn every, every dealership into a cookie cutter dealership. But there are, I mean, it would certainly make answering questions a lot easier for consultants and all of that because, you know, most of the time someone will say, well, this, and you watch it on Facebook. And someone will say this, and then you're getting 17,000 different responses. And it's all based on the responder's business model. And it's different than the one that's asking the questions. Yeah. the more that we can start to create something that levels that out a bit. And Robert, thank you. Robert Hernandez, applaud you for your efforts. This is long overdue. Thank you. I know that just talking with our friends at Butler Sanchez that Amanda's like, can we just standardize the chart of accounts? Can we just standardize that? Yeah. And that's been a conversation since I've been around it too. Like that's a struggle. But yeah, I follow that. I think for us, you know, even in these conversations with some of the people that we're working with, you know, it's not an accounting matter. We're not trying to do accounting. I do believe that having this information locked down in a single report is, would help the accountants. It's got to, I mean, you're, you're, again, you're reconciling the largest asset in the business. And so knowing where the money moves in and out, it's going to be, yeah, it's going to be especially useful to them, I think. And so we're, but we're, I just, I understand some accounting and I think, but I just, I'm not trying to do accounting. I'm trying to help dealers first and foremost to, manage their business month over month, get to some really key performance numbers. And this to me would be, you know, job one. And so I so that kind of helps to, you know, create that. So, yeah, that's all part of what we're trying to do. And so, yeah, I think we're we're we're having success. We're looking forward to having the first of these DMS providers come forward and say, look, here it is. And you'll see them on the show. We'll have them on a Wednesday and we'll, we'll explain and show, show, you know, tell the listeners about, uh, you know, how it works and that they stepped forward. They stepped up. Right. And so I think that's what that'll happen. We're going to have some of those folks be able to, to produce this for users. And we're going to be happy to share that. And, And I'm happy to share that whether this dealer is, you know, a V8 member, if they're a listener of our podcast, if they're an NIA member. I just want all dealers who are buy here, pay out there struggling and running a difficult business to have this information at their fingertips. And then we'll be educating through the podcast on how they can use this information to improve their business. And, you know, one of the things that I really appreciated about the way that you navigate these kind of things is, There's nothing proprietary about this. This is for the good of the industry, the good of the dealer, and it is something that every dealer should have access to, period. As you watch, there's always new growth things and things that we're working on for the future, but you'll see more reporting type things and all that. As we continue to develop relationships with the development teams of the DMSs, There will be more that comes. Yeah, this is kind of in that category of just more than. Not everything is a profit and revenue matter. Like just not everything that we do. It's one of those things that when you help, everybody gets better. Everybody. And so that's one thing that I've really appreciated about Jim is his philosophy is he doesn't hold his cards right up against his chest. Sometimes I get called out for that. Yeah. Like, Oh, you're pretty open and about where you're going and what you're doing. Yeah. That's how, that's how we build it. Maybe you don't, maybe you aren't. And that's, that's okay too. This is how we're doing this. And, you know, we've, we've discussed before about how people are saying, how can you, you know, you're, you're hurting yourself. And it's like, you know, when we, when we look at it in the whole picture, um, It's not hurting or it's not hurting. It's helping. And it actually, it's educating dealers. And so dealers are asking better questions. They're making better informed decisions. And, you know, especially with like the white hat way, all of those things is that dealers are. are learning how do we navigate the CFPB? How do we navigate just being able to connect with our, with our communities and our customers and, and, you know, the teams and all of that. And of course we're going to just like, if, if we can help, of course we're going to. Yeah, absolutely. And I think near term with this report, it just helps us to figure out how do I, how do I, how much do I have to grow to get to the place where I can start to retire my debt? You know, just, just simple stuff like that. This is the beginning of that answer. So, and, and that's, and that's something that, you know, we, it's so many dealers out there are, they're just, it's like between floor plans. And then they're there. All of that is that it's like, if, if one of those things goes down there in a world of hurt. And so we really are, we believe in smart debt. We absolutely believe in smart debt, but we also believe in getting out of debt. Yeah, it's up to the dealer to decide, but I just want them to have the information. If I choose to retire debt or if I choose to, when will I have enough positive cash to go invest in real estate? Whatever. It's like whatever they choose to do with surplus money, I just want them to be able to get to the information and know, here's where we're at. This helps us know where we've got to go to get to where we want to be. And trying to do it in a way that you don't have to have a degree in. in reporting analytics. Yeah, these folks are busy. I mean, we have a hard enough time getting them to a meeting, right? Can I go lay down? Yeah, please. All right. Hey, everybody. Thank you so much. It's Friday. Thanks for including us on this Friday. usually uh well some there's some dealers out there that are actually closed on saturdays but yeah weekend business and all of that um thanks for making us a part of your saturday and we will see you on monday and I can just about guarantee that we'll be back at much higher than 81 percent
