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. Hey, welcome. Happy Friday. That's on me today being late. I'm just, I didn't allow it. Remember the joke that you told, what was his name, that was at the dealer forum? It was like, so I have a choice on being on time or my wife's hair looking really nice. Doesn't her hair look nice? Sometimes you look fantastic. Not me. I just didn't allow for the extra time it would take to put on a sweater this morning, so. Well, I love you in a sweater. You know that already. So we went yesterday. We have a party. Well, a party. A celebration. A celebration. Those of you who know, my brother passed away. His funeral was a couple of weeks ago. Tomorrow is his. We're doing something in Utah instead of in Idaho, a life celebration of different family members. And friends have been recording little tributes. And so we'll have them playing on the televisions around the thing. So we were at Hobby Lobby. And just picking up some stuff for just decorating things because Jim's working on lights. And so he found this. And dear Santa, please stop judging me. Knock it off already. Yeah. So these are our new Christmas cups. Right, right. For sure. I got mine over here, too. Yeah. So, I just… And that's, you know, a little insight into Jim's sense of humor. And just follow Ted Lasso's approach instead, Santa. Just be curious. Just be curious. Not judgmental. Yes. Actually, you should do another… Yeah. A different mug. Oh, yeah. Yeah. Last night, just… Y'all know that… we work together we play together we you know just hang out together and last night we were just chatting about a bunch of different things and it's like we because we get kind of silly sometimes we came up with a really great concept for a restaurant and so you know it was it was like so much fun and we just kind of bat back and forth bat back and forth it's a winner of an idea it's a winner of an idea yeah so those of you in the restaurant business reach out It'll be an awful lot of fun. What do we have happening? All of your groups are meeting next week? No, week after. The data deadline for V-Eight is Monday. It's our target, I should say. So we're trying to get all data gathered up so we can have those meetings before we get into Christmas week. And so just know if you're still out there on the fence with a V-Eight dealer group, we've got some people coming in now. We want to get some more. We've got some empty seats in a few of those groups. And we have some stuff that's, you know, as we're developing, pricing's changing, but that was part of our conversation is like developing different tiers of engagement for dealers. And there is some really cool, we're not going to, We're not going to, we're not going to blurt it all out right now, but there's some really cool things that are going to be happening next year. That just, it's like dealers, it's just going to be such a value add to what it is you're doing. I'm moving ahead with the first V-Ape Mastermind meeting in January. So we've got Mastermind suggestions for Mastermind topics coming in from our most recent survey. And so I look forward to that. And so V-Ape Masterminds are only available to V-Ape members. Right. And so these are like very specific masterminds where we can get together and talk about a specific kind of topic. And then we also have our first, our beta White Hat Way certification with- I'm calling it a pilot. Pilot, yes. Yeah. Yeah. our pilot for that. And a lot of the things that we're going to be talking about, about different levels of engagement that dealers can come in, it will be around that. Right. For the certification course for White Hat Way. For the certification for White Hat Way. And so, yeah, we're really looking forward to working with our team because we have a team. I love that. And, uh, and, uh, really getting ready for that. So I, I, we've talked enough about what the, it again, if, but the, if you're interested in doing V eight, um, Let us know. Please reach out. Yeah, because if you lock in your position now, you're not going to get in with the new pricing. Right. There's my phone number. Send me any goofy Christmas memes. Yes. And here's the email. Email is jim at whitehatway.com. Reach out. Let's talk. Okay, so this is something that Jim has, you know, he comes up with really interesting ways of breaking apart and dissecting and a different approach, a different view, a different perspective. Um, that is really, really valuable. That's one of the things that, that, um, uh, through our clients and also through V eight, which we kind of consider them our clients too, in a way. Um, but that as we're working with them and it's like, Hey, um, there are some um question around this and jim will come up with a tool so do you want to tell everybody kind of like the background of this tool um so and michelle's right I'm I seem like I'm always in my mind as we got windshield time or whatever I'm thinking about how to better present numbers to dealers like how to help them better visualize what's really happening in certain areas and so that's part of what we do over in v-eight but this one came up because We've actually had two clients in the last couple of weeks who said that we really need to assess our profitability. One of them came up because of their relationship with a lender. The lender was analyzing their profitability and discussing that with them. And so, That was kind of front of, you know, front of mind with them. Then another client that we've worked with for a long time said, you know, my CPA is looking at a profitability and would like to meet. Cause I remember you saying that the, the CPA who, you know, and you've worked with, with this, and this is one of our consulting clients. The CPA reached out to the dealer and Jim and said, Hey, There's some stuff that I see from my perspective that it just seems different. I'd like to understand it. And so the three of us met yesterday virtually. He came into the regularly scheduled meeting with the client and we broke it all down. And so just this year, Jim has worked with this client of ours and their CPA and taught their CPA how to look at buy here, pay here. Yeah. And so this is the first time, like a year's end approach, that this CPA is looking at all of the things through a lens of buy here, pay here. And he's like, there's some things that I want to understand. Yeah. Well, he's been looking at this dealer's buy here, pay here financials and RFC for years. So what's different this year is that, you know, the CPAs basically asked me and when we started our meeting yesterday, the CPA asked, I got about four questions for you and went through the questions and I was able to address those. And by the time we wrapped up, he said, thank you. This is very helpful. Meaning we are our business is just different. I mean, it's not like we're shoe stores and we buy shoes for thirteen dollars and sell them for twenty five. I don't know. Can you still buy shoes for twenty five? I don't know. But anyway, the point is our business is just different. We we tote the note. We have paper or phantom profit. The profit that we generate today, we don't get to spend because it's not in the bank account. It's it's on the books. But I still find that recently it's just become a conversation. Obviously in our V eight thing, you know, that we started asking our dealers to remit quarterly the most recent quarter that was available for operating expenses. So we can incorporate that in our kind of picture of the operation. And then this comes along. And so I said, you know, we really ought to help dealers have a quick way to get to, am I profitable? Right. Is my business profitable? profitable. Jim Collison, Right. And in particular, I would say for our conversation today, a couple quick things. This is, first of all, I'll put this on the screen. This is not GAAP accounting that we're talking about, okay? So we're not CPAs, right? We're not, we're not offering you accounting financials, this is not a P&L that you can turn around and use to prepare your taxes. This is a tool to give you a quick look at your profitability. And I think one of the things that happened, I told the CPA yesterday, I said, the answer to your four questions might be different today than they were a year ago. Because in the last year, I've gained some new perspective from just different resources, pulling in information from lots of different places. And I now think about profitability different. So it's part of why I chose to create the tool and help dealers start to differentiate those things and think in this way. So, um, maybe we can just, do you want me to bring it up? Yeah, go ahead. Okay. So I'm going to bring this up and, um, and, uh, So what I'm hoping that you'll do is that you will look at or explain. I'm sure that most dealers out there will or a lot of dealers out there were like, well, yeah, I totally get this. But, you know, we we know that a lot of our listeners are new to buy hair, pay hair. So sure. So yeah, I'll go through it in that way, I think. So first of all, maybe it helps to explain this is an actual dealer's numbers. And so it's the same dealer I was meeting with CPA yesterday. I just pulled together those numbers and because we had them fresh and and the left side is sales. OK, so we're looking at our profitability. So if you want to think of the sales department as sort of the front end department of your business, some people use that terminology in the retail space especially. But if you think about it, it's front end sales. And on the right side, I have more portfolio financial, you know, finance company numbers. Okay. So obviously we're going to bring those things back together globally and look at our just globally. Are we profitable? Because like you say, ours is just more complex. We, The profit that we have, we don't have it in cash, so it's just a whole different animal. But I think we still have to examine our profitability. And why is that important? Because we might be moving more cash than we were last month and last year, but if there's not enough profit in it, if there's not a markup, we're just moving money. We're not, we're not gaining. Yeah. And so this, this is what I'm hearing from you is that this is just a really good view, which it will change on a monthly, you know, there are some months or, and this is actually a period it's April to November and you can break this down by the month too. Yeah. And that it's just kind of give you an idea about where money is coming in and coming out. And, We talk about data when you can start really looking at it and dissecting it and all of that, then it has much deeper meaning. Right. just like the very first view of the thing. That's right. And it can change. Like you said, this is a period. This is an eight-month period, April and November. And just kind of see and start just to look at things and overlay years. And it's like, when is my least profitable month of the year? You could. Or whatever. Let me just think about that. When you say the least profitable month, in our buy here, pay here business is paper profit. So even if we made profit today in this month, it still is, you have to kind of think of our business in an aggregated or portfolio basis. And that's kind of why I chose to do a little longer period of time here because on any given month, we'd be up and down. So let me ask you this because, you know, you're talking to the accountant and this is this was kind of pulled together to give an accountant of a view and the dealer of you. So is this like the global profit loss in the period? Is this your business's taxable earnings? It's close. I mean, that's why I say we're not doing a gap accounting here. That stuff over here is not included. Like, you know, if you started looking at things like EBITDA, right? It's earnings before interest and taxes and depreciation and amortization. Okay. So that's a lot of stuff that accountants would do that will ultimately impact your ultimate P&Ls that aren't represented here. I'm just trying to give dealers from a quick operational look. If I want to just grab a few numbers. When I first put this together, you know, I was calling it my... my profitability five square like it's just kind of a a way to just you know those those yellow fields are the ones that dealers would input and so now when you put those just five numbers there right so you put those numbers in you could even just go net charge offs and go straight to that and you'd have fewer numbers to do but I just kind of did the calculation for folks So this is just, and I would urge dealers who are doing both retail and buy here, pay here to do the best they can to examine the profitability of their buy here, pay here division or department by itself. Okay. So to do that, you're going to have to kind of know how much of these expenses that are reported as operating expenses belong to buy here, pay here, which is, Our V eight dealers have a challenge with that. Well, the absolutely. And, and we've worked with enough dealers that it's, um, uh, we had a dealer a few years back that was like, they weren't being profitable. And so they had to go back in and it's when, when you look at something like it's, Oh my goodness. Um, and, and it's so easy as a dealer, you get so busy in the, in the day to day and all of that. So you're not looking at these kinds of things until sometimes, um, It's like, oh, no. Sure. What? Oh, no. Well, I don't even think like I really think this is part of, you know, that this is my approach to things anyway. Even now we're looking at an eight month period. These are thirty six, forty two month contracts. So when we say, oh, no, it's like we don't have to be super reactive here when it comes to profitability. Of course, we need to make sure we can check periodically and make sure we have enough profit. Because this left side, let's just focus on this left side for a minute. That gross profit from sales, which I could say that's just BHPH sales. That's gross profit. That's markup. Okay. And so that's what you see on line five there. And then row seven is operating expenses. Now, one of the things that's challenging for most dealers, I'm working with a dealer right now that they all they have for expenses is twenty twenty three. So they don't they couldn't produce this because they don't know off the top of their head or they can't run to a report quickly to be able to know what their their expenses are running. And that's, you know, it's one of the really beautiful things that Twenty Groups have brought to dealers is to be looking at that and then folding in those kind of numbers into, as they're looking at the numbers for their businesses, that operating expenses are, they're a big part of it. They absolutely are. I mean, that's just a real expense. We can't hide from it. These are, you know, these are direct operating expenses that, you know, we've got here. And so this dealer, you know, dealers might look at this and ask, is this dealer, does this include interest expense with a lender? And the answer is yes. In this case, it does. There are, and so we need to know that. So that would be under operating expenses, right? Okay. Yeah. And so a lot of dealers would separate that. Now, you know, one of the things like if you can, this is a, I think from my perspective, and so please correct me if I'm wrong, is it's, it's a great way to just have a quick snapshot of like, where are we in a grand scheme more? It's, it's aggregate and all of that. And I think back on that dealer that I was going into that there became an oh shit moment, an oh no moment where it's like, uh-oh. And then as they were doing, it's just conversation, as they were doing looking at their business themselves, it's like, Oh, their operating expenses, we know they looked like just salaries. It's like they had this kid on this and this kid on this and their mother-in-law on this and them on this and all of these kind of things. And it was because they were having a thinner time of just their regular operations. It's like... all of a sudden it was like, oh no. And so there, there's a lot of, you know, tightening belts and trimming things off and saying, listen, you know, I love you child. You're, you're on your own and, and like getting things back. But it was, it was kind of this kind of view is maybe not in this exact format, but it was just, this is the, I'm wondering with that dealer, if, if this had been something that, that be looking at, you know, on a monthly or a quarterly or an annually basis if the oh no moment would have been staved off. I think this one's a good one to look at quarterly. Quarterly feels right for me here because we know from working with V-Eight numbers and dealers for years that Any given month can be up and down. You can have a heavy charge-off month, and it'll look different on the finance side. You can have a slow sales month. But again, the thing that we have in Buy Here, Pay Here, because of the long term of contract, if we don't sell cars this month, we're still enjoying the cash flow off of the last three years of sales, roughly, right? Yeah. And so that's what makes our business different. And so we might feel fine. We're sitting there saying, well, our bank accounts are flush, so we must be doing okay. Well, yeah, we are. And if we have a little dip in sales this month, it doesn't kill us. So if we look at it quarterly, I think is appropriate. If you look at something like this quarterly, then I think it's a valid thing. Snapshot. That's all it's meant to be is a quick snapshot. You're always doing three months running average. Three months running average. True. I do some at six months. Yeah. But this one is, this one's a good one at three months because I think when you look at a quarter, across a quarter, I think any of us would want to be profitable. So, so let's go. So let me. I have a question really quick. And this is through Facebook from Mike DeMaria. Since I do both buyer pay here and retail, could I just take my percentage of sales of buy here pay here and put the same percentage on my expenses you you definitely could mike I think one of the things I would be recommending is in addition to that if you could arrive at some sort of formula that you may have to update from time to time but that basically better reflects your expenses in support of those separate things in other words You know, when you do a straight line percentage, that might not be the best method because you have collections expense over in the buy here, pay here side. You don't have it at all. You don't have it in the sales side. So to charge a percentage of that to your retail business may not be exactly appropriate. But sales and sales, I could see. Collections, maybe not. Reconditioning, maybe not. You know, it just, yeah. Yeah, so it's challenging. Listen, it's hard for any of our dealers to do it. But I think anytime you... you know, when I pay rent, how much of my rent should really be assigned to buy here, pay here, and how much to retail? Well, you know, it's our choice, right? It's how we want to delegate. But I mean, I think what he's wanting to be able to do is that if I were to segregate the buy here, pay here, and want to look at it in its profitability, when you're doing both, how would you do that? It's a good place to start. One other thing that I do, and I hope that answered your question, Mike. I got more information. You got more information. And I wanted to just, it's not really, it's something we're talking about this morning. This is not the same for lease here, pay here. Yeah. So this is for those that are in buy here, pay here. Yeah, and I look forward to getting with our friends at LHPH Capital and have them run through this with me and maybe we can create something similar. In my quick thought about it, most of the things would be relevant in terms of profitability. Mm-hmm. But profit is calculated a little differently in leasing. And so I think we'd want to make sure when we're really giving them a representation, I think it'd be better to just use this one for buy here, pay here in this approach. And let's, you know, we can make this tool available eventually, but it's like right now I would say just, this is not a hard thing for you to build a crate. You could do this on a napkin and go do the math real quick. Because all we're really talking about is let's again, recap for those who aren't seeing the screen, who'll be listening to this on audio on the left side of the screen, we just have, uh row five gross profit from sales so in this case it's six hundred sixty three thousand dollars is gross profit from sales in that period this dealer's doing volume in the fifteen to seventeen range then operating expenses in the period were six ninety five so that means the dealer is negative thirty two thousand in the sales department in that period of time okay just pure and simple I mean we we haven't created as much profit in that eight month period as as we've created in expenses So even though that profit is just paper, we can't spend any of it. They didn't use any of that six, sixty three to pay this prop, this expense. Like that's the big challenge. Well, and the interesting thing is operating expenses are not phantom. They're real costs. Yeah, it's true. Yeah. The the gross profit sales in that period does have phantom profit in it. Yeah. And so, you know, it's it does. And that's the part of what becomes challenging about our business is that it's just it's just different. It's a different animal. And because it's even if you were just financing it. For twelve months and all of this profit that we booked was collected inside of twelve months, it would be a little bit easier. But in this case, that's sort of spread across, you know, the portfolios collected out over twenty four and thirty six months. And so it just becomes challenging. And so I think that's why I'm a cash flow guy first, because I always make the joke about I can't pay my tax or my team on Friday with some contracts like I can't, you know, and we need cash. Yeah. Right. So same thing with paying my lender or anybody else. It takes cash. So I get it. So the left hand side is gross profit sales in the period minus the operating expenses within that period, excluding charge offs. And it comes up with, you know, this minus this is this. And then on the right hand side, this is more about your collections. It is. It's a finance department. So if you think of the left side as being sales department, now we go over and look at the finance department side. And this is obviously the portfolio management side of our business. And so now I think interest coverage is the big thing. If you look at that down there on on row ninety four, interest coverage is what we're trying to get to. Why? Because that's the first indication of your profitability in your finance department. Is your interest that you're bringing in, in this case across eight months, is the interest that we have collected? This is cash. This is money in the bank. Is the money that we collected in interest sufficient to cover the net charge off losses? And love it. Love it. Love it. Love it. So you're starting with your gross. On this side, you're starting with your gross charge-offs. And you're adding or you're subtracting the value of the repos? Correct. So that's what would give you a net charge-off. So I might just clarify because some people on certain systems and we just sent out a bunch of instructions for people on a software I won't name, but you have to be able to add. So you have to be careful because in a lot of systems you have to add the value of repos recovered to what it's showing for a charge off number because it's giving you a net charge off number. What you really charged off was that gross. Now you could, you could just report the net charge off. That's all we're trying to get to gross charge off, which means the principal balance of the accounts at the time they were charged off. The principal balance of the account says at the time that they were charged off. Regardless of whether you got a repo back or not. Okay. So that's how much money left the portfolio. Okay. So think of it that way. That's how much leaves the portfolio when we go to our charge off. And then we add back as a credit, so to speak, the value of the repos recovered. So that number gives us, in this case, let me read the numbers for those not seeing the screen. The gross charge offs are five, twenty one, five hundred twenty one thousand dollars. The value of repo recovers about one hundred and forty four thousand. So we end up with about a difference of three hundred seventy seven for net charge loss. OK, so three hundred seventy seven loss and net charge offs. And then you you drop down to the next line and then you're going to add what actual interest income did you experience during that period? And that would be in the bank that would be collected. So you're you're showing you're reporting interest income collected. Yeah. In this case, that kind of came out to four hundred seventy two thousand for this dealer. So the finance department actually had a profit. If you want to think just a real simple look at a profit. This is, by the way, when we talk about global expenses over there on the left side, we've charged all the global expenses to the sales side. Uh-huh. And so that's fine. And as long as we realize that's what we're doing, we don't need to go to the trouble to split it out because we're just looking at the thing globally in the end anyway. So what we do is we add our interest income and we say, okay, our interest coverage was a positive almost ninety-five thousand in that eight-month period. Uh-huh. And so then you take those two numbers, the one you, which was your, your sales. It was a thirty two thousand dollar loser. Loser. And then and then combine it with the the the collections. And then that gives you just a real good view of how am I doing in my profitability. so another thing to think about here if that number had been negative and I'll show you let's just quickly and I'm just gonna say those of you who there's there's a lot we're we're talking through those who listen to the audio podcasts on all of our syndicated stations um go to youtube yeah youtube uh it's jim and michelle roads at octane dot group and then you can actually see the thing so if there's anything that you're not you're not picking up bookmark this podcast and then go back to youtube and see and watch it there yeah and so I would just say that you're I changed that number, by the way, from four seventy two or whatever the number was to drop the interest income to three fifty just to show because here's why I would ask you to think about from a profitability standpoint. If my interest coverage is not covering my net charge off losses, then that expense has to hit my P&L, which means now you could just in a simple way to think about it. Now my sales company has to pay it. Because my finance company can't cover it. It didn't cover it in that period of time, right? And so now that expense, because I'm just trying to simplify the idea that Granted, in accounting standpoint, these gross charge-offs would be listed as expense in the section of the profit and loss report. But I'm trying to just roll them over here and say, let's analyze our finance company. Let's look at, is our interest covering our net charge-off losses? And if it is, wonderful. I'll go back to where the number was. That's great. It makes us globally profitable. If we're not covering that, then anything we were deficient there would have to get charged to the company globally as an expense, and it'll hit our profitability. Yeah, I'm wondering, Darla Boer, who is North Carolina? She's South Carolina. South Carolina dealer. She's on the NIAID board. We were having a conversation with her a while ago, and she has a formula as to whether or not I can, you know, It's like I can I'm my ratios are in a good position. And I think that this kind of it's it's a tie kind of to what you're doing here, whereas she says, if you if you triple your. I don't remember. No, it was like. You're on your own here. Darla, if you're listening. Yeah, it was something along the lines of like, if you triple this and you're still in the positive, you're good. Okay, yeah, let me think about that. You remember that? Yeah, it was double or triple your charge-offs. Yeah. Double or triple your charge offs. If you double your charge offs and you're still profitable, then your ratios for, um, are, are good. And, and that can set. And the point of that was with Darla is that, is that it, it can see you through the rougher times that you're going to be fine. And this also, you know, that kind of thing too, along with this is that's something that if you're, if you have a lender in the picture that, that, They're going to want to know that you're not over leveraged. Sure. And based on what you're collecting and all of those kind of things. Yeah. Well, there's over leverage and then there's just pure profitability. I mean, if you're not profitable, then in a real simple way to say it, if you're not profitable, then you're... depleting your assets yeah I mean you're you're that those those losses have to be have to come from somewhere and they normally are going to come from the portfolio or the bank account or inventory I mean they're just going to get yeah you're gonna you're gonna erode your assets and your profits um your equity you know as as you start to to suffer losses and it's going to be true paper losses too on your charge offs so you know this is why it's just challenging and this is part of why I work all the time to try to help dealers figure out, you know, that there's, there's profit and there's cashflow in our business. They're not the same thing, but it's like going back to my example here, that that's six, sixty three that the dealer shows in profit. It's, it's on paper. They haven't collected perhaps any of it yet. I mean, obviously it depends on the timing and when, I mean, it's, it's, yes. So it's like what's on your portfolio. And so that, that collections one, that's like real, that's real money coming in and out and all of that. The other side is, um, that's where all that phantom profit or that phantom is sitting is on the sell side, right? Yeah. And you could say that that gross charge off number of five twenty one that we show on there, that's not real cash. That's coming off of our portfolio, which is what we're doing today is we're examining our profitability. It's an expense. It gets written off of our business because we're writing it off of our portfolio. It leaves our business assets. So we're writing it off. Yeah. So it's it's not cash. But it does, and what we're talking about today is profitability. But it does hit our profitability. You know, it's interesting, too. This is a really great tool to look at. If I can move the needle by three percent in my gross charge-offs, this is what it will mean to me. Good, yeah. And so, like, what does three percent? It's like, I'm saving. Sure. one or two accounts a month. Yeah. And, you know, how that hits your bottom line in something like this. Yeah. So I think, you know, most any dealer can run to their software and produce this interest coverage number. Like just go look at it for the last quarter or all of this year, whatever that is. So you can get to that number. And now if you're covering on that side you're positive or just usually looking for about a break even over there but if you're positive wonderful and then you can set now you come back to the sales side and you say okay if I'm this dealer and I can say my profit from sales did not cover my operating expenses, then what has to happen? I got basically three things I can do. There are three levers to fiddle with. I can increase volume of sales, right? Which is what most dealers think that they're just going to sell themselves out of a problem. And the more this dealer sells, the more cash is going to take out of their bank account and draw on their line of credit. So that's another factor. But if you're just looking at how do I make my sales department profitable, there's a very few things that we do here. you're going to do you're going to increase volume you're going to increase markup per unit right which may not be a lot of place to go there or you're going to cut expenses like it's just kind of that simple so I'm just saying if you want to really simplify the way you look at it's like if my Interest income is covering my net charge off losses. That's what it's supposed to do. The portfolio is kind of sustaining itself, staying on its own. And now that we just look at the sales side. And of course, again, I've got all the expenses of the operation being absorbed by the sales department over here. But that's because I'm choosing to kind of look at a financial thing on my portfolio and just say, I'm looking at interest coverage over there on the portfolio side. Obviously, I could have operating expenses in the If I have an RFC, I would have operating expenses over on the RFC side, but I'm just bringing it all back together globally. And just saying, if we think about it from the sales standpoint, the sales, the sales really need to support the overhead. So, you know, that's why twenty groups for years have looked at operating expense per unit sold. Oh, yeah. If you have that number is one of the things we talked about with the CPA yesterday. We have that number. Then we can just say our operating expense per unit sold is X. Our profit, our markup per unit sold is Y. How do those two compare? This is another way to look at the same thing. I love it. Every little bit that you can give a dealer into understanding and having a different insight in and simplify it. They don't get enough time at their desk. This is why I like to try to make life simpler. I'm a former dealer. I get it. it's challenging you're over there and you're getting a call your manager's saying hey we got a customer unhappy because we got an engine problem and then you got somebody else calling on the other line saying hey we need payroll turned in over here you know and so you know it's just busy for a dealer they got a lot of irons and so I think anything we can do to help simplify their life and get simple numbers in front of them so they can get a better feel for the health of their business that's really what we talked about yesterday yeah absolutely awesome great conversation um uh you know jim's he's always coming up with a new tool of some kind and and as twenty twenty five moves forward you're gonna see a lot of those kind of things in a very different way yeah and really really excited about the things that we have on our roadmap for the next year and um I'm yeah so again um being involved in v-eight right now you're going to have access to a lot of these new things like people that sign up in January won't. So get involved now. There are, you know, we have seats available in all sizes of dealerships, but you get to kind of be part of this we're testing things out and we're working some of these, these pieces out. And that's, that's one of the things that we've been doing with the, with the groups that we've had this year is, is giving them a little bit extra attention, a little bit extra because they're just, yeah. Hey everybody, have a great day. Thanks again for joining and we'll see you on Wednesday. Thanks.
