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 friends, welcome. Wow, good morning. A little bit of an internet issue over here. Happy Wednesday. Getting connected, yeah. Welcome to What Happened Wednesday and the podcast studio in North Ogden, Utah. Any announcements from Michelle's Corner before we get started? Oh, right. we're going to have Michelle's corner. I like that. I think that's a great idea. It's yeah. It's like, okay. Yeah. Opening monologue. What's in Michelle's corner. I don't have anything. I'm just, I'm still busy. Just yeah. Okay. Taking care of estates. Okay. Yeah. All right. Yeah. So that's definitely consuming the time still. And so I'm back to V eight meetings. We had our first V eight plus session yesterday. That was really great. It was good information. Let's see. What was our subject yesterday? We had kind of a. a rolling conversation and ended up kind of opening up to other things. But we were, we were basically talking about capital ways to improve capital. Okay. But it kind of morphed into as often happens in these conversations. Yeah. And the nice thing about them is, is that you're not like diving into the numbers as much as just having a discussion around the topic. right so that's just for our premium subscribers and then they uh you know we we've got actually four of those kind of meetings this month and looking forward to those but last night's v-eight meeting was our group one that's our original group so we're original members uh you know yeah and so that and we had a full house last night we only had a couple you know when you came upstairs and you're like how did it go and he goes it is so nice when we have a full house yeah just yeah I mean it's you've come away realizing to make it you come away realizing why we chose a cap of eight. You know, we do eight dealers in a virtual group because they don't, it's hard to get in a ninety minute meeting, present some numbers. It's hard for everybody to get a chance to get in, especially any kind of rich stuff. And that's part of what we can do with our premium thing. Those meetings are kind of bonus meetings and we can dig a little deeper into some of the stuff that is specific to a dealer situation or what have you. For today. Our conversation is a reality check, a gut check for twenty twenty five. One of the things that was pretty evident in our meeting last night is that you know, we've got dealers still struggling. We've got dealers that are stable. We have fewer dealers that are killing it, you know, but it's an indication that we, and of course, for me, Michelle is a numbers nerd, somebody who lives in these numbers a lot with dealers coming in on her VH stuff and other places. It starts to raise the question of, you know, are these dealers going to survive some of them, right? If they don't get their house in order and come to grips with some of their numbers, are they, are they going to be able to make it work? You know, years ago, years and years ago, I, I was single years ago. And I, I, just felt like I never had enough money. And so I did, and I'm not, I'm not, I mean, I'm not telling people to go do this, but I'm just going to, I did the Dave Ramsey financial piece thing. And it was amazing to me because I really wasn't working off of a budget at the time. And so it, you know, they took you through different steps. And you know, where you're starting to track and you're starting to look. And it was amazing to me that when I felt like I was in complete control and new, like all little things, um, I didn't feel like I was lacking, but I had more money in my accounts. And so, um, the, the, my, the reason I bring that up is, and I believe, I believe this, this applies to. that when you really know what is happening and you understand the numbers one, you're going to be a little bit more careful about the actual things that you, that it's like, do we need this? And I remember, you know, it just kind of depends on where you're at and, and it's a lot easier for you to go, oh, I'm spending this and this, and I could do this instead, get the same result and spend less or whatever. So it's in, we talk all the time about how important it is. And we know, and I know, I know, I know, I know, I know. It's like, Oh, another thing I have to do. Um, where with, with dealers, it's like, you've already bought so much on your plates and, and, and all of that. But it's just, I almost just want to promise that if you do, it will help. Yeah, I think what I see with the dealers that, you know, we have, we have dealers, there are dealers in that meeting last night who had to face some harsh realities. I mean, when you put the numbers, we started tracking collateral recovery rate. We've had different variations of the math. All the pieces are there, but we just said, let's just put collateral recovery rate on there. And initially I didn't do it in V eight because I was frustrated. It couldn't seem to nail down the formula. You know, people were using different formulas, but, kind of got that part settled and got put in collateral recovery. And they're just because kind of referring back to the dealer, Jeff Owings, who said, you know, CRR is what people talk about. It's the number that people talk about. Twenty groups is certainly a number that lenders to ask about. And so I think what What I'm looking at, Michelle, and I'm just going to be, I'm going to tell it like it is. What you've got here is we're in twenty twenty five when charge offs are high. They were charged. Everybody said twenty twenty four was rough. Charge offs are still high for a lot of our dealers haven't stabilized. We do have dealers that are fine. They're holding their own. They're running consistent. But there is probably. you know, approaching half of the dealers are having rough portfolio numbers, a lot of charge up. So let me ask you this, cause you've lived through, Oh wait, is this similar? Is this worse? Is this better? I mean, it's like what, because, because we all know we can look in the past and history repeats itself. You know, hard times, they, things happen, whatever it is. And then it just, It's like it's cycles and sometimes you have harder times and sometimes you have fat times. And so is this, when we're looking at charge off rates and just the struggles, do you see any similarities to what happened in all of that? I don't even want to answer that because I didn't have the same kind of data pool in two thousand eight. So I only saw my own numbers and what I can remember from my twenty group experience back then. So I didn't have the kind of data pool that we work with now. So that I'm asking you to do like a gut thing. So. Oh, gut check. Yeah. It feels the same. Dealers were definitely experiencing, you know, heavy charge offs, access to capital. A lot of dealers, like they have to bounce out. Yeah. A lot of dealers have to bounce out. And then there, uh, but those that stuck around and those that, that, you know, whether the storm hunkered in, um, It's from my perspective, it seems like those are some of the dealers that are the strong ones today. yeah I would say and this is the white hat way tie-in for me today because when I think about when we talk about white hat way one of the big pieces that doesn't get talked about a lot is obviously with white hat way we're talking about dealers who are principled you know they're operating with transparency they're working to build trust with the customers they're playing a long game so that long game piece is really about sustainability like if I'm a dealer and I'm helping you as a customer in your tough credit situation or your cousin who needs a car next month, I can't help your cousin next month if I'm not around. If I'm not in business or I can't financially afford to fund any more contracts, then I can't be that solution in the marketplace. So this is the part that I say that, you know, White Hat Way can help connect the dots for, the dealers who stick around, the dealers who are an asset to the community and who are healthy and stable. We want the dealers themselves to be financially healthy and stable and all that applies to them and their family from a financial stability standpoint, because, you know, there are going to be some dealers feeling some real pressure as a result of all this stuff. And we saw and I'll give a quick example what we saw with the tricolor thing, which we talked about, you know, a week or more ago. I don't have a privy. I'm not inside the numbers. And so what I'm saying here is not about them in particular as much as it is when you see a big operation like that falter or go through a foreclosure bankruptcy or whatever. I'm sure they've got the peepers up the well, but... Maybe. But my main point is here, typically where the pressure comes from or what causes a collapse in a big operation is typically pressures related to the portfolio performance of portfolio quit performing well enough to support the operation, perhaps support some debt. You know, we know in their case it was securitization. Again, I don't know. I'm not privy to what happened inside their operation. I'm just simply saying typically when this happens, it's the actual performance of the portfolio, the yield, how much we're being able to convert into cash off of the outstanding portfolio is really where the pressures come from. And so this is the part that, you know, for today, dealers, when I talk about a gut check for twenty twenty five, I'm saying I'm not talking about your cash and deal. I'm not talking about your sales volume. I'm not talking about your recon time. I'm talking about how is the portfolio of contracts that we already own that we're trying to sell more cars and put into this this portfolio how is that portfolio performing and sometimes I feel like dealers they hear it they're interested and and listen we love these dealers right this has been our lifeblood this is our our career for decades now and so it's we we love and respect and appreciate them and we see some of them not focused on that side of their business enough. And I think those dealers who are not giving attention to their portfolio performance are at risk of not being around in twenty twenty six as a buy here, pay here operator. I'm watching and we were talking this morning for listeners out there. We talked buy here, pay here. Not as much as we used to, but we talk about it all the time and. Yeah, I lost it. Oh, good. Sorry. I saw you drifting. Sorry. I was rolling back to the back of her hand. I did have a question, though. You know, going back again to oh, because I was it was a pretty rough stretch for by your paper. And and I'm not sure that by your paper was around in the seventies, but probably was because that was probably another really rough twenty. Twenty to thirty years. Every twenty to thirty years. It seems like boom, boom, boom. OK, how this may be a loaded question about how long does a really rough stuff last? before it starts getting better. Do you know? I don't think I'm the right person to answer that one either. I mean, it doesn't recover quickly, right? It doesn't recover quickly, but it just, you know, you hit the worst and then it doesn't last for years and years and years. No, but you're talking typically years, not months. Yes. So what I will be advising my clients and dealers to do is, prepare for the idea that this doesn't shift right away, that you're not going to start getting a percent interest from your lender anytime soon. Yeah. And just kind of watching what the global stage it's like, this is, this is different than Oh eight two is because we're seeing how everything is so much more intricately. It's just lots and lots of threads and ties to what's happening around the globe too. So, you know, this is, it probably will be some kind of a global, um, as things reset and all that. Let's kind of go to some of these talking points. The illusion of instinct. Okay, I've got them so we can show them on the screen too. So the illusion of instinct is sometimes when we're operating on instinct, you know, we see a lot of that in buyer-payer. Why? Dealers are naturally drawn to that segment because of the independence. They get to step in there and be their own operator and run their own thing and do their own model. And we love it, right? That's part of what is beautiful about this industry. And when we rely on instinct, it can get us in trouble in this instance. And I think we've got some examples across our data pool now of people that are kind of running on instinct and they're feeling good about the bank accounts are fine. What they're not recognizing is that The model that they're running may not be sustainable. It may not hold up in the long run because it's not converting to cash well. And if you want to slow grow it and kind of limp along organically, and deal with a lot of charge offs and, and, you know, I had a dealer say a while back in it and something that I, I guess I hadn't thought about it exactly that way. He says, you know, it, it takes every bit as much of our energy operationally to repossess and process a charge off as it does to sell a new account. So when you're experiencing charge offs and some of our dealers are charging off more than they're selling. So that just means you're, you're, You've got demands on that side of your business. And I guess my point here is that when it comes to instinct, we can't just we can't get by on what we used to get by on. We just here's our reality in twenty twenty five. We we've got to get better about our numbers. We've got to know what's happening. And if we're going to grow our business and we're going to have conversations with lenders and they ask us, So dealer, let's call them dealer W, white hat dealer and dealer X. Lender says to dealer W, we're going to do an analysis on your collateral recovery rate and some of these other metrics and we'll get back to you. And if I can say to the lender, you're going to find that our collateral recovery rate had dipped to the sixties, but it's been running pretty much in the mid seventies since April. And dealer X says, you know, what is collateral recovery rate? Like, you know, how does that work? The scary thing is, and I know there are a lot of dealers out there that are like, what? Everyone knows. No, not everyone knows. I mean, they've heard it, but they don't understand how to get to it. Yeah. And in our meeting last night, I gave dealers kind of the, I call it like gem language or whatever. I gave them the language that was kind of my own interpretation. Because if you look at just the actual formula, the way it's kind of written, collateral recovery, just for our listeners not familiar, that's going to be something that is really just looking at what I would call the principal yield. Like how much principal did we, Collect out of the portfolio. Typically it's tracked monthly. And then you'd look at a three or six month rolling average. But if you just look at a single month. And this is just principal. So the way I wrote my new definition is the principal that we've banked, including repos. So if you bring in the value of your repos. Compared to how much principal the portfolio was reduced in total. So if you think about that, anything else that would be reduced would be charge offs. So it's really that's why the flip side of that is the loss to liquidation ratio. They're just inverse ratios. Right. They look at different things. But bottom line is how much principal did we bank? So in other words, the portfolio, if you take out new contracts that originated, you take out contracts that you acquired or sold and you say, OK, during the month of August, our portfolio went down by this much principal. How much of that went in the bank? That's what a bank wants to know is how well are you converting your portfolio into the bank account? Because that's how you're going to repay me as a lender, right? There's interest over there and there's other things to look at. So we can talk about that more as we get into this because we've got some other things. But I think the, you know, the hazards of flying blind or just what we described. It's like when we don't know these numbers, this stuff can sneak up on us. And that's not a good place to be in a conversation with a lender or investor or your partners. There's plenty of dealers out there right now that are having really difficult conversations with their lenders. And lenders are constricting, which means that, and this goes back to Russell Moore. Years ago, he posted something about his wife saying, You know, isn't this the same thing when we get irritated our lenders are constricting? Isn't that the same thing that our customers feel about us because we're the lender? And so we're seeing this tightening, this constriction, this we're having to follow the rules and all of that. And it's scary for a lot of dealers. I think it's two things. I mean, you're talking about two different things. There's the relationship that we have with a lender because we're already in a business relationship. We have financing with them and our portfolio is not performing. And now we're struggling to make the payments or whatever. And so there's that. And those conversations are happening in VA because we have confidential environment over there and they speak freely. And we talk very much about what's going on with investors and lenders. So, I mean, for those of you who haven't had those conversations with your lenders, they're happening. They're happening more than they have in the past. They're happening. So be aware if you have a lender that just be aware that you may end up having a conversation if there aren't certain things that are looking good. And if you think it doesn't happen or can't happen to you, I've seen way more than I used to see in terms of conversations with actual foreclosures, like foreclosures on a portfolio at least. So it's happening. But anyway, just the hazards of flying blind here is that we're You know, we're sort of flying by the seat of our pants. We're focused on sales. We're kind of tunnel vision. And that thing we've talked about in the past is we feel like sometimes as dealers or entrepreneurs that the answer, my thing is just to sell more. I can sell my way out of this situation. And what we would say is pause. Step off of that mindset for a minute and don't think so much about sales and deal structure. Go look at your portfolio performance. Make sure you know. Make sure you can find all the numbers in your software to help you know what's happening in your portfolio. And we continue to have dialogue with software people. Some of them are cooperating with us. Some of our dealers are really struggling to pull together these numbers. And sometimes when they're flying blind, maybe they don't want to or they're not willing to, but they don't know where to find the number. don't know what we would recommend sometimes that they'll be tracking right so cloud recovery rate is one that you know we'll continue to talk about that I don't want to forget um folks can come back here and join us on friday we're going to go a step further than we did last friday in terms of actual repossession numbers and some calculations and how we can show a lot of recovery rate in a different way give a feel for what's happening across our our V eight ecosystem and some real time kind of numbers. I mean, these are August numbers that people are seeing in these meetings, but let's talk about KPIs and why that way and why I think, you know, when I think about numbers to know. John Hagerton. Thanks. Hey guys. Great info. Good. Good. Good morning. And then so, so numbers to know, let's talk about. And dealers are always like hungry, hungry, hungry. Give me some KPIs. And here's the funny thing. Cause it's like, I need to know exactly what the numbers are that I need to be, be, you know, what, what, what ratios and all of that. Part of the problem is, is even if you give KPIs, if you don't know how to get to a correct number in your DMS, that's a problem. It's a big problem. Cause you can see, I mean, and we deal with so many different DMSs and they all do it differently. And so to say, just push this button and it's going to give you everything. It's like, we're finding that. some DMS is you push that button and it's like, in order to compare apples to apples, you need to now subtract this, add this divide, you know, whatever it is. KPIs. Yeah. So KPIs, I would just say the white hat way connection here is again, sustainability. It's like, what are the KPIs that we would want to measure sometimes? So KPI for anybody hearing it for the first time is key performance indicator. It's like, what are the indicators? And for me today, I want to just focus on the portfolio side. I just want to say, let's look at the metrics on what is the portfolio yield and don't we recognize why that's going to matter to our long-term sustainability? We're pumping a bunch of contracts into a portfolio. A percentage of those are charging off. At the minimum, that's an interrupter in our cash flow, but it could be worse. It depends on, we talked a lot about last night, market size. If you're a small market, this can hurt even more. Because your ability to process and find a new buyer for that repo and get a car payment coming in on that collateral is that it's just tricky so it's like this is why we think it's important just let's just start by just knowing these numbers this is this is our gut check our reality check is let's get familiar with our numbers folks because this is going to help um folks like me to help you it's going to help you to get that that refinancing when you need to go get some a line of credit to grow your business uh you know when you have you're on top of these numbers and you make sure that your numbers are healthy then you know this is going to be the part so let's talk about numbers to know And I'm going to kind of go in reverse order here, Michelle. I'm going to start down here with number three. And we've talked about this one on the podcast in the past. This one would be, I like this one because it's something you can scratch out on a napkin. And I think this is something that we would, you go in a lot of dealerships and you'll see a sales board. How many have we sold, right? Especially people coming out of new car retail, they're used to kind of having a sales board and tracking sales, sales, sales. If I could walk into a dealership and see this number, June, July, August, see the results. And you can have any software. All I have to know is how many accounts did I have at the start of the period? And then how much total principal and interest did we collect in that month? So if I'm looking at August, I'm saying, okay, I started August with two hundred thirty seven accounts. I collected this much principal and interest in the month of August. How much is that per account? Put that number on the board. Like the average. But make that part of your culture. Make that part of your management meetings to know how well did we collect. Because people get tangled up. So monthly P&I collected per account at the open of the period. And it's kind of a. The first of the month or by the end of the month or the first. Yeah. From what you did at the end of the month, you're putting it on for that. And I'll preemptively answer the question about how much that number be. It depends on where your payments are. Like everybody's portfolios would be different. Some people have an average payment of six hundred. Some have an average payment of five twenty five. So I can't tell you what that number should be in your case. But you will be able to see if you start putting it on that whiteboard and charting that thing month over month and looking at the results, you will know was August. to up or down and and and that's after the fact like this is like getting our report card for august and now we see the number but obviously we want to be more proactive than that and so we want to ultimately focus on numbers that'll help us improve that number and know kind of how we're tracking you know as we go through the month so number two would be that collateral recovery rate That's the number we talked about. And is this also on the board? Like this is the collateral? It could be, but this one takes a little more calculation. People might need a template or something to, excuse me, to do that. But I'd say it's a little more challenging. Just, I put a couple of start, excuse me, my coffee's acting up on me. So the... I would say that I put a couple of stars in there because we have to adjust. When I say total principal reduction, you have to remember to adjust the number of new contracts that you put in the portfolio. Okay, so in the collateral recovery rate is principal banked. We talked about that before, divided by? Total principal reduction. So, you know, if your portfolio started out the month at one point eight and it closed the month at one point seven, Again, you have to adjust. Obviously it would have gone up by the number of new contracts you put in there. So you have to take those out and say, when I factor in the removing the new contracts that we added, our portfolio actually went down by X. And the other started with the, if we sold contracts, we need to remove that as well because that's, that's an adjustment to principle, but it's not necessarily a reflection of collections, right? They just, those contracts left the portfolio for that reason. But so, and then the number one over here would be interest coverage. I think this is an area that we're seeing a high percentage of our, and I've been telling our dealers, when you see this folks, this did not used to look like this when we sat in a VA meeting that more than half of our members are running upside down on their interest coverage. So let's go through that. What is interest coverage and what does it do? I mean, it's a measurement of the portfolio. So in the Vegas presentation, when I talked about profitability and we talked about cash flow on the profitability side, we said, if you look at your portfolio, think about your buy here, pay here division as being, or if you have an RFC, think about your finance company over here being the finance division of your entity. It's the one that's managing this portfolio, which is what I'm saying we need to be paying attention to. And if you look at this and say, my, typically, the reason we charge a higher interest rate on a buy-your-pay-your contract is because we are looking for that interest to cover our losses, our net charge-off losses. Isn't that the argument that is made in Washington, D.C., when we're talking the policy conferences and stuff and the CBA, CFPB and it's like, why do you charge so much interest? It's like, because it covers X. So the high interest rate, is the interest covering your losses? With more than half of our dealers right now, it doesn't matter where their interest is, they're not covering. So their net charge offs are in excess in a period. And this is another one that we look at on a rolling average, but in a period um and for most of twenty twenty five I can say right now most of our v eight members are or probably more than half are running upside down in that number their their their interest is not covering their net charge so from a profitability standpoint what that says is now my sales department this is super simplistic and you really need to see the presentation from june to make sense of all this but now whatever loss in my finance side is not covered by my interest now it gets kind of charged to the rest of the operation so you could you could say it's an additional expense sort of to the operation because not being covered by the interest so this is where our profitability gets tested that's another thing that a lender is going to be looking at when they come in they're going they're looking at profitability more closely they're going to be you know the performance, your portfolio was going to be, you know, one indication of profitability on that side. And so now if you're upside down on that number, that just means your sales side, so to speak, has to absorb those losses as well, or globally, you have to absorb those losses. And so it hits your profitability. And so dealers are hurting from a profitability standpoint. Now let's be clear. Today's profitability is not the same as today's cash flow. Some dealers may feel they're fine on today's cash flow because they've had repos and that's more than the car payment. And we typically say cash is king. Can that shift? So it's like it is. Well, it depends on how dealers invest the cash. And it also has a little bit to do with, let's say that I repoed twenty cars last month and sold twenty. The question becomes, if I have twenty additional cars in my inventory now, can I find buyers for those next month? If not, I'm sitting on a bunch of inventory. I'm writing off a bunch of contracts and not replacing them. I'm not getting new car payments out of that collateral. And so that's that's really the turnaround, like the turnaround that I can recycle that collateral. And will I find new buyers who are qualified and who are not going to have the same problem the last customer had? Right. In terms of, you know, this is the part that we have to be able to get familiar with our our repo and our portfolio performance numbers. And so this is why, you know, I keep talking about it and finding new ways to present the information to dealers. But I think just these three numbers that I gave are going to be, you know, if you could get those numbers on a board and get a feel for what's happening with your business. And listen, this is where software's got to help us. I mean, we've got to, we see some of our dealers really struggling. I'm not naming names over here today about which software, but some of our dealers, especially on certain software, are really struggling to pull together the numbers that they need. Why? Because one, they either don't know their software well enough to know. They haven't had anybody like me come in and say, we've got to. Is that because it's a difficult software and it's not intuitive or just because they haven't learned? Because I do know there are some softwares that are hard to navigate. Yeah. Yeah, and I think I could just say it. Some of the software is just simply not producing the data or you have to go three layers deep into some special export to get to the numbers that you really need to begin to run this math. And this is why I say Huawei is going to continue to ask DMS providers on behalf of dealers to pull together this information put it in front of dealers so they can it's easier for them to have this information at their fingertips so they can know because it's um it it's a situation where we're we're pressing dealers to say find these numbers tell us why why the numbers that you turned in on your v-eight report are off by a hundred and thirty eight thousand dollars Why? Why did you send us numbers that are you have one hundred thirty thousand dollars unaccounted for for the month of August? And that's, you know, so frequently that is the conversation that we have that it's just it's. And yeah, because dealers haven't been looking at their numbers and they're just throwing stuff together. It's like, oh, gosh, I'm on. paper, this just looks... I know. And so I'm just saying that we're not out to embarrass anybody. In fact, we're leaning in on the data side. We're going to continue to try to help dealers find the information. We meet with dealers. They all have my Zoom link or my link. They can hop on my calendar and we can work through the data together. We're leaning in to help dealers find this information because... We don't know without having those numbers in the right columns. We don't know if their numbers are, their portfolio is performing well or not. Yeah, and that's actually one of the things with the V-Aid is because we verify numbers. We do spot checks and verification. Then we know that the numbers looked at are apples to apples, right? yeah but we want to validate that yeah and so there yeah it's it's yeah validated yeah um and uh and that's something that that we've dealt with dealers that have been involved in in groups and all of that and they're like what um because it's so important because it it In order to really be able to have an educated conversation with a group of people, you have to know you're all comparing the same thing. And that's a hard thing to do with different DMs. Right. So let's wrap up with this thing about the culture. And then I have a comment from George. Okay. You want to share that now? I'm sure. George, we love you, George. I'd like to expand on your reference to flying blind. A new pilot like a new dealer typically is only VFR qualified. Most go on to learn to fly IFR. That way they can fly in all weather conditions. I'd suggest that much of the coaching is getting dealers IFR rated. Visual flight rules versus instrument flight rules. That's good. I love that because the visual is... Like it's kind of a, the, um, it is more like the gut kind of thing and the instrument, um, you know, when, when weather conditions are bad and you can't see the things, but you know, that I've, I've got solid information coming from my instruments that I can weather this storm. I can't see visually, but I know that I'm running level. I'm running at this altitude and all of those kinds of things. Can I trust that it's time to descend? I like that, George. That's great, George. I love the analogy as well. I think that's a good way to think about this. The thing that we want to urge dealers to do is if you're not there yet, if your management meetings or your partner meetings don't currently include these conversations, Because a lot of our dealers in our meetings, they're talking about sales are up, sales are down, whatever. A culture shift in a lot of dealerships means that your meetings, and look, we're having this conversation on September your next management meeting can include these numbers and you can start to make a culture shift within your team to start to and help the team who's responsible for these things understand the things in the way that you do so that you can begin to build this culture and this dialogue in your team around the big stuff, because I would just suggest to you how well we're yielding out of this portfolio is going to be more indicative of your future success. Yeah. And your sales volume. And part of creating a team that trusts is being transparent. Good. TTT. Teams that trust are transparent. It's because because you as a business owner are being very transparent. These numbers that you're talking about, the three that put them on a board and track them and your management team have it somewhere that if someone else just walks in and they see it and they can ask, what does this mean? And you can have a conversation. These are the things that we're tracking to make sure that we're on, you know, seeing what's seeing what's happening with trends and that we we have the right kind of um structures and all of that so if you're if you're a dms provider reach out to me if you want to get this stuff dialed in if you're a dealer who can't find these numbers in your DMS, reach out to me, let's get a conversation with your DMS provider and let's help emphasize the importance of this and why we, why we think it's important to have any of that kind of help that you might need. And, you know, we talk enough, a lot about V eight and, and, and yes, we would love to have you join. But we also talk about it because there's so much rich information that everyone needs to hear. And it's like, yeah, come and join the conversation. You're all welcome. We would love to have you all. And we talk about it an awful lot because it is where we're starting to really create rich databases that can help everyone. That's why we have a podcast. We, you know, we're out there trying to, to, or we are out there doing, we're out there educating based on the big picture, the big stuff that is. And VA allows us to be more real time. Now in fairness, we can't bring you all this. Those subscribers are paying to have, we're not going to bring you all the information. And you're not going to be able to have to be a part of the conversation, but you can, you know, we will, we will be sharing like, Some of the big, the big stuff. So if there's anything that we can do to help, whether it be, um, you're interested in, in joining the conversation, um, or if you would like help trying to get to these numbers, please reach out. We can help. Um, so call or text nine zero three eight one six zero two one six nine zero three eight one six zero two one six. That is Jim's. That is Jim's cell phone. Direct. So you can text him. Send me your joke of the day. The last time I said, send cat memes, we got a few. So yeah. What else do we have? Yeah, I think that's it. My daughter's birthday is tomorrow. Quick shout out to Erin. If you see a beautiful young woman in Dallas by the name of Erin, just tell her happy birthday tomorrow. Yeah. All right. I think that that's a good place to say middle of the week. It's, you know, we've got a, we've got a, I know I have a full schedule. Jim does too. We have a VA meeting tomorrow night and there's lots of stuff on our plates. Those of you guys who aren't aware, we are in the process of getting ready for a move to Guymon, Oklahoma too. So that will be happening the end of next month, which is Jim's hometown where White Hat Way was basically Lots of reasons that came out of left field for us, but it's the right move for us at this time. All right, everybody. Thanks again so much for joining. We know you are very busy, and we appreciate you listening. And we will be back on Friday with some more conversation around repos. More repo calculations, yep. All right, everybody. Have a great day.
