#337 - NIADA Vendor Interviews

This is the independent Dealer podcast, education by Dealers for Dealers. Now, here are your hosts, Luke Godwin and Jeff Watson.

Hey, everybody. Here we are at Niada 2024 in Las Vegas.

Yeah, Robbie, you could see the logo, but Jeff's bulbous head is in the way.

And we are having to do our own camera work. Budget has been cut for us.

Gosh darn it. Yeah, we need some more sponsors, Jeff.

So what we're gonna do is our vendor intro, where we're gonna wander this massive expo hall here. This has got to be a record number of vendors and a lot of names I don't recognize.

A bunch I don't recognize. I actually talked to a few. Like, what do you do? I don't know.

What do you do?

We're gonna try to figure that out for y'. All.

Let's go. Okay, here we have Lisa with Springfree ev. Lisa, what do you guys do, and how can you help the independent dealer?

Absolutely. So we are an company. We have two core products. The first one is if a dealer has a fleet who's interested in EVs, we would be happy to finance that. We have some creative underwriting, and we can also help people that might not have prime credit scores get into EVs. That's the first way. The second way is we are operationalizing a deal with Uber, and we're looking for operational partners that can help us deploy EVs. They would make, you know, a cent per mile kind of deal if they help us deploy units to drive drivers that are being provided by Uber.

And. And you're financing the Uber driver?

We are financing the. We're underwriting the operator. So the independent dealer, and then they are renting to own to the end user.

Okay.

And.

And please ask more questions.

Yeah, I need to. So let's. Let's back up the fleet. A dealer that might own a fleet. Can you explain what that is to me? I don't. I don't understand.

Yeah, of course. So if you are an independent dealer and you have a local H Vac company that has 10 vehicles in their fleet, and they come to you and they say, we want to transition all these units to EVs. We're interested in transit, so we're interested in the era, right. Then you can call us, and we can finance those for them, put them in a lease. We have a lot of different leasing structures, and we have competitive EV leases, so that's how we can help them move those vehicles into a fleet on a used ev. Yep.

Very cool.

That could actually Work and make some people some real money out there, I think.

Yeah. And then the second product you said was the Uber partnership.

Yes. And so.

And we are the ones selling the car.

Let me give you a perfect example, please.

Because.

Yeah. So I'm confused. So you are dealer Jeff's dealership. And Jeff has partnered with Springfree EV to be a provider of a Drive to own product for Uber. So Uber provides a driver that they've already vetted that is looking to get a car to drive.

Right. They want to upgrade from their crappy Corolla to a Tesla or a whatever.

So they have the drive to own opportunity. And when they click on that in the platform, and let's say, Jeff, you and I are partners in Dallas, Texas, you pop up as the provider for that. That product. So it could give real visibility to independent dealers. The ask that we're asking is that they help us operationalize this because we are just the finance company today. They would also get paid a dollar per mile that that driver drives. And here's the coolest part. I know a lot of the independent dealers are very big on community, so this is an additional way to allow these drivers to get into an EV because once they drive that car for 200,000 dol miles, the cars that you sold. So it's another way to allow people a path to ownership for evs that maybe couldn't afford it.

I think I'd like to talk more about that.

Who vet. Who vetted the.

Sounds like Uber does.

Who finances the car, paying for the car? You're providing the financing for the car.

And we actually provide the vehicle to the dealer. So they don't.

Oh, and you also have the car.

Correct.

You give. You say, hey, we've got a qualified driver through Uber.

We're going to get that driver.

You're going to do the purchase contract and vacuum it on the weekends.

Correct.

And we're getting. And we're getting a yes.

And if somebody defaults, we would lean on that operator to go get the car and redeploy it to another driver.

But they have. But you have the technology because it's in your fleet. You know where the car is all the time because it's an EV.

Correct. And is this 90 Teslas? Because that's the only ones I've seen for now. But the cool thing is the Hertz rejects.

Yes. But I think what will make a lot of difference as this continues and the aftermarket for EVs gets bigger.

Yeah.

Is that we absolutely can offer any kind of EV we can finance any kind of ev. Yeah. And we're just looking for the right ones and the right price point for this particular product.

Yeah, this sounds very interesting. Sounds like a way for independence to make some money.

New strings of revenue.

I love it.

Awesome. Thank you, Lisa.

Thank you.

Okay, here we are with Bill in Gen Z Automotive Solutions. Yes, sir, Automotive Solutions.

And if you see, look, guys, a EV charger in the background. So we're going to bring you some EV stuff today.

Yeah, yeah. So Bill, what is your company and how can you help the independent dealer?

Yeah, Gen Z Automotive is accommodating of two companies. One provides F and I solutions and the other one provides EV solutions, EV charging equipment, software and EVSes. What we found in the independent market, there hasn't been enough attention focused on their EV business. And as a matter of fact, at this niada, we're the only EV charging provider here.

Yes. It's the first time we've ever seen a charger in the Expo. So to us it was something we really need to talk about. And as y' all know, I own a Tesla, Jeff drives a Tesla, and Jeff, you sell a lot of EVs, so I think this is interesting to talk both sides.

Yeah.

What can we look forward to with VSCs for service contracts when it comes to EVs? What do our technicians look for? And can we, you know, can we charge for charging at our, at our dealership? Can we turn into a gas station?

Essentially you can, you can make money charging for sure. There's definitely not enough public charging out there.

Yeah.

One of the things that we found, and we deal with the new car franchises as well, and all the manufacturers kind of, I want to say, forced it down to their dealership for a minute.

Yeah, exactly. Until this week.

Right.

They all rolled them back.

And what we thought in the independent side, because there is no forced, you know, market. But we've seen at the auctions now we're seeing more EVs coming through the auctions and these used car dealerships are taking a chance and saying, you know what? I'd like to sell that Tesla, make some money. So one, we can give them the EVSE to be able to sell it with a manufacturer type, you know, service contract.

Right.

Which gives you the protection you need to sell it. But then to get you into the charging space, if you sell enough vehicles, you can actually we created a charge club that works like airline miles. So the more VSCs you sell, you earn miles and you can use those credits towards your charging hardware to get.

Charging hardware for free.

So it's really low investment for an independent dealer to get into the space.

Yeah, let's start. This might take a little longer than what we talked about here, Jeff. But we all, when we think about EVs, the issue is the battery. Right. That's, that's probably your number one dawn of failure. So we got battery and then we got electric motors that are failures. What are we seeing? I mean most EVs aren't old enough to worry about matter yet. What are these VSCs covering and how often are we seeing failures?

Yeah, the EVSE that we've come out with does evse. Evse, it's an electric vehicle service contract, does cover battery degradation and it'll actually, you know, it still requires an inspection just like any other VSC would. So we evaluate where it's at today and then what we're going to cover, you know, going forward.

Right.

It's a fully comprehensive coverage. It's unlimited on mileage. So if you buy a three year EVSE from us, it's unlimited on mileage. And so that way if the consumer's driving it a lot, it's still going to be covered on that battery degradation, which allows you to sell a higher mileage EV as well.

Well, what I, I mean you've sold, you sold EVs with 100,000 miles. But I saw something came out the other day where after 200 plus thousand miles, Tesla's battery was still performing about 80%. Isn't that what we saw?

That's pretty normal.

I mean that, that, that's pretty awesome. But there are going to be failures. Right. Like anything, even a Toyota motor fails every once in a while.

Yeah. I was going to say people have a misconception about like what their current vehicles really do. Right. How many 10 year old vehicles with 100,000 miles do you see on the road today? You know, 10 years old would be. Yeah. And again, 30 years ago you didn't see that. That's right. But so an average driver drives between 12 and 15,000 miles a year. So a 10 year old vehicle usually has about 150,000 miles. So now put that in perspective. Right?

Yeah.

And say, okay, would you buy that car today? And you buy it without a service contract. Right, Right.

And it's hard.

I mean, I just want to use vehicle for my son and we bought one with 140,000 miles on it. I wanted $5,000 for some kind of protection plan on it, you know, and it's like, okay, do I really want to do that, or would I rather have something that I can put something on it for a couple grand and put some kind of comprehensive coverage?

Yeah. And I mean, I know everybody's kind of new to this EVSE or. I mean, have y' all seen a bunch of failures yet or. No, that's right.

I mean, no more than average.

Right.

You know? Yeah.

Okay, so let's. Let's talk about this for a second. I' really fast.

Yeah. It sounds like a whole episode.

It might be, but. Did you say this was made by Chevy?

This is Chevy. C H A E B I Not Chevy, not gm. Yes, exactly.

I saw that. I saw the European plug in the back. So if I had one of these in my life, I see it's got a. A credit card deal. Yep. I mean, so I could come to you, I could. Somebody could come to my life, be about out, insert there, charge it, and I'm making money.

We can do rfid, we can do, you know, Apple pay, whatever kind of payment you want to put on here. We can use cards is the most common because that's what people are used to doing today at the gas station.

Right.

Or tap and pay.

So we've all heard the horror stories of charging outside of a Tesla charging network. Is it getting any better? Yeah, it's a lot better.

First of all, and matter of fact, we chose our software provider, Red E Charging out of Detroit, because their primary focus was on giving the charge to the consumer when they show up, when they expect it, and what charge they expect. So everything else was kind of secondary. All the bells and whistles that, like a lot of, I'll say charging networks tried to put in, that failed a lot of times. It was often the communication protocols that failed.

So they just said, hey, software problem? Yeah.

They said, dummy it down and just make it give a charge. And that was the first thing they said. So we're tracking at 97% higher, really, about 98, 99% uptime. And this Chevy Charger, as a matter of fact, includes three years of uptime services, meaning 24,7 monitoring for three years, right from the get go. And they actually would tell you if it's down probably before you would know as a dealer. And they can reset the software hard, you know, hard reset, soft reset, or send a technician outside if it needs it.

So my thought process on this, and I know we're going extra long on this, but it's really fascinating is that you could build like a little lounge at your dealership. Right. People could come, then you could you could sell them sandwiches, you could sell, you know, whatever you wanted to do. And I think that'd be kind of neat. Anyway, enough of that.

Think about this dealership. Bought the gas station, like free oil changes. Right. If you bought a car for me for oil changes, or 995oil changes was one of the ones I sold at, what are they going to do when it's all EVs or 40% of the market EVs, right. Come back for a free charge once a month and we'll wash your car while you're waiting or something like that. Right. I mean, that's a good way to get a consumer back to your store to build quality.

I kind of like it. Yeah.

Yeah. I think it's. It's the future, both from a service contract standpoint and from hardware at the dealership. I installed the Level 2 charger four years ago at my place. Right. Because I saw it coming. But every dealer. This is going to be like having an air compressor. Right?

Right.

Like you got to have an air compressor. You have to have an EV charger.

Yes, we have a level two at our dealership, but the problem is we can't charge for. You know what I mean? Like, so there's no way to. To convert it.

Well, that's a whole nother conversation.

That's a software thing.

But. Right, but, but it's. But why the customer's there. And if you sold it, you could check their tires, you know, check the depth of their tires. You can check their wiper blades, all these things that you can do to sell more product while they are charging. So I like it. Yeah.

Bill, thank you for your time.

Thank you, guys.

Enjoy the show.

Okay, here we are with Bill of Buckeye Dealership Consulting. Bill, what does Buckeye do and how can it help the independent deal?

Oh, my goodness. Well, first of all, we try to learn about your business. We try to understand a little bit more about what you do and why you do it so that we can at least offer and be able to do some things that are going to help you be able to make money in the future for yourself and have additional money for your business. We offer and we do reinsurance, cpi, gap warranty, vsi, you know, just a number of different products. But again, it's not about selling products. It's all about understanding who you are, what you do and why you do it.

So you've been in the industry being a moderator for years, and a lot of people probably watching this have seen you, and you now have a new role at Buckeye. And I'm sure some of those people want to reach out to you, right? Absolutely.

Oh, absolutely. You can reach out to me. Still have the same cell phone number? Pretty much. You can find me on Facebook as well.

You're on Facebook?

I am on Facebook.

I've never seen you on Facebook.

I get out there on occasion, but yes, you know, LinkedIn, Facebook, same phone number and contact B elizondouckeyreinsurance.com but besides that, you know, at the end of the day, there's a sales team that I work with that they're all fantastic individuals and they're all out there going to your business to understand what you do to help you be better at your job.

So let's look back at your old job when you were a moderator and you got to see how important reinsurance is and CPI is to. To the dealer. Yes. Now you're on this side of it. I mean, just talk about how important it is to have a reinsurance.

Oh, it's extremely important. It's, it's that self wealth that you're going to have for the future. It's, there's tax benefits to it as well. Of course, you know, which gives you a little bit more money in your own pocket. But at the end of the day, again, it's something that you're going to have for your maybe your retirement at some point or maybe you're using it to maybe even get a loan that you're gonna loan to yourself to be able to pay back at that point in time and again, make money for you at that point in time. And so that's a benefit. But being from a 20 group moderator to do this, it's been a fantastic opportunity, but it gives me more insight and just being in the business for 33 years, you know, I know a little bit about some of the things that you guys do out there, so. So this all helps.

Cool. Thanks, Bill.

Thank you very much.

Why are you short?

Why are you getting down a little bit?

Thanks, Bill.

Thank you, Jeff. We're here with Tim Lawrence from LHPH Capital and we brought you some stuff from your summit before. Super insightful. Tim's leasing specialist and everything. When it comes to leasing, you know it, right?

100%. All me, not my team.

That's money.

So we're putting together an EV episode and one of the things that keeps coming up and people are talking about is EV leasing. Where are we in that space? What's coming? Because it seems like the leasing of EVs is taking precedent over the, the selling of EV. Yeah, yeah.

Like industry specific with OEMs.

Is that what you're.

Well, OEMs for sure, but there's got to be a, a spot for the independent dealer in this, right?

Yeah. So I, I think there's a high upside on the leasing side of, of evs for a few reasons. The first is that in general the idea is that leases or EVs should have a longer life with less, less parts to replace, you know, you, much fewer engine parts than you do on the, on the ice vehicles. And so the maintenance in theory, besides the battery should be quite low and you should be able to get a few hundred thousand miles on these vehicles, especially when it comes to a Tesla vehicle. And so if you're a dealer and you want to lease those out yourself, then you're going to have an asset that's on the books and you're going to get a lot of turns through that instead of the one or two cycles that, that you might get currently an ev, it's going to be a lot longer. And so you have to be able to manage that through your service center and all those things.

But yeah, so my question is this a subprime market? Is EV a subprime market? I go back and forth with Jeff on, you know, what holds me back is okay, subprime that we're thinking about. A lot of them don't own their own house. They're either in apartments or rentals. So their main idea of charging is superchargers. Does that create a problem for our customer or is this a prime model only?

I think today it's a prime model, but it would be short sighted to think that in the future that's the way that it's going to be. We all know that there's infrastructure issues and that there's all these plans to, to improve that, that infrastructure so that there can be charging. Charging stations. I was just at the, the mall recently with my family, going to dinner, walked by. You know, we have all these like Tesla charging stations and there's just people sitting in, in the, at the mall just hanging out on their phone. They're charging their cars, they're not in shopping. That's the whole purpose of it. So I think those are going to be popping up everywhere is like marketing opportunities, opportunities for Tesla and different things like that.

Yeah.

And, and so it might change. Instead of having the gas stations or doing it at your home or apartment complex, it might be like more like community areas.

Well, well, I mentioned this in another Little thing, the snippet we did here is how about building a lounge at your dealership for EV charging? And you know, I just, I, I keep thinking about this model, but I think the leasing I think really fits EVs. Well, Jeff, you're selling EVs, why aren't you leasing the EVs?

Because my DMS does not allow leases right now.

But if it did, would you?

Yeah. The short answer is, of course it's everything Tim said. Everyone knows they're built to last longer. I think the public perception will grow to the point where a 200,000 mile EV is not a big deal. Right. Maybe it's on its second battery, maybe it's on its second drive train. But what we're looking at that and the way as lease here you look at it is your VIN is your asset, right? So how long can I get this VIN on the road paying me five or six or seven hundred dollars a month. How long can I keep that VIN out there? Right. And if I need to bring it in and give it a new battery, if I need to bring it in and give it new interior or, you know, whatever that case may be, I just need that thing going as long as possible.

So let's think about the Tesla situation. And if I'm buying, if I can go and buy a bunch of Hertz model Threes right now for 15 to 18 grand, can I do that, Jeff?

Nah, Almost. Yeah, almost.

Okay. And they have 80 to 100 on them.

Yeah.

Do we believe that car is going to make it 300,000 miles? And how many turns of the lease can we get in there?

Yeah.

Are we good with that? What's the lease payment?

I don't do public math, so I.

Can'T, I mean, but is, is it the same as our $535 a month buy here pay here payment, or is it more? Is it less? Do you, you have the answer to that too.

So it's, it could be less, the vehicle's going to last longer and the payment could be less, and then it's, it's basically an annuity for you. If, if the payment's less and it's more affordable and the customer is more likely to be able to come, continue to pay it and not have these, these other economic pressures that they're facing right now, then there could be a higher likelihood that that asset is on your books for longer. Because if it's, if it's getting a payment and it's out on the street, it's, it's an annuity for you. But if it's, if it's in your inventory in process to be reconditioned and put back out on the street, it's not making you any money, it's costing you. So there's probably the right break even point to where it makes sense. On what's the payment I can charge that's competitive in your geography to your buyer payer competitors. That's like, hey, I have this EV out in the street and it's continuing to provide cash flow stream to me.

I'm thinking more about this. If we have a charging system at our dealership, let's just say we have three charges at our dealership and we're giving a better rate or an easier rate than Tesla is at their charging station. We probably can't.

But let's just not apples to apples.

Probably not apples to apples, but if we had, if we had a little bit of infrastructure at our dealership so those people kept coming back to charge with us. I mean, is that a way around this problem or no?

No.

Okay.

Because the charger you're going to have at your dealership is a level two that's charging at 20 to 30 miles per hour.

Yeah.

So if I'm trying to get half a battery, I'm trying to get 150 miles put onto my battery. How long am I at your dealership?

How long is that?

I'm there for five hours. Yeah, that's not happening. Right. You're not a level three supercharger. That's Tesla. That's phase three power. You're not going to get that from your local utility provider. He's not going to run a freaking that level of power to your place. And a whole nother conversation is you're also probably not allowed to resell power. You got to check your power provider's agreement.

And the reason Jeff knows these type things because he is actually on the board of a power company in Utah. So very knowledgeable.

Sorry, we're getting into the weeds here. So you're gonna have that problem and then your return on investment on a, on a high, there's no way you can make it charger. Okay. That's a lot.

Yeah.

Okay.

We put in some ChargePoint chargers and they are very expensive and the return is. So if you don't have tax credit, they're like 150 grand.

Is there a time where it's gonna, the economies of scale, we're gonna reduce that down because we see this through technology all the time.

And then you got regulation on can I resell the power that I'm taking from the power grid? I got that problem. Right. And then. Yeah. Do the, do the, do the physical chargers come down cheap enough and become fast enough that it's worth it for people to park at my dealership?

Sure.

But right now, everyone needs a level two at their dealership.

Okay.

Really good questions, though, like, in general, thinking about the future. My question for each of you on the spot is if you do have a charging station that is, you know, level three, you can power it up pretty quick. Does that motivate you to do a quick diagnostic on the vehicle while it's there? Do any sort of, like, reconditioning and assess anything?

I think right there is you get a chance to look at the tires in the car, which we talk. We talk about. You get to check the wiper blades, you get the chance, check the filters, and you could even detail the car while it's charging. There's all these options across the board you could do while the car is there. I don't know. Just a thought process. In the future.

Well, in the future, when my car lot becomes a robo taxi reconditioning center, 100% agree. And all the robo taxis park there at night and charge and I vacuum them and they all go out in the morning. Yeah. That's what my used car lot will be in 10 years.

Years.

So I'm glad.

So wait, wait.

Jeff just said he's going to be the one who's vacuuming them at night.

Did you hear that?

He's like, when they come back and.

I vacuum them, I'll be plugging them in and changing the tires and vacuuming them, sending them back out.

But this goes to a deeper question, and you and I have already talked about this. Tesla's trying to move to a situation where they want to lease every car. They don't want to sell a car. Where's this going, Tim? You're, you're the lease going, is this going to happen? Is. Is that what we really want to do here?

Yeah. I don't think Tesla is going to step away from the leasing market. I think they're going to lean into it and they will want to hold the assets themselves indefinitely. It seems like they've been going that way, and then they'll end up leasing it to all of their customers instead of selling them. And if they can get more financing for leasing, that's the direction they want to go anywhere. And if you think about that from their standpoint, then they're getting all the depreciation benefits themselves. So they're offsetting all of their income from the depreciation from the vehicles as they're leasing it to consumers like you and me. So then what we would have to figure out is can we do a master sublease? Can we sublease those vehicles out to our consumers at the dealership level? Can you get an agreement, agreement with Tesla? If, if Tesla's the OEM example that says I can sublease a thousand of these and I'm gonna, I'm gonna self lease them. I'm gonna lease them from you, Tesla and self lease them out to Microsoft.

A lot of interesting things going on here.

Yeah. Just one more point on this. I think it will be interesting to look back in two to three to four years and say when Hertz dumped thousands and thousands of, of model Threes onto the market and Y's.

Yeah.

Was that an opportunity that we missed?

Well, you lean into it. So I'm not sure.

But not, not strongly. Right. And the reason I say that is because I can buy them a dime a dozen right now, right?

Yep.

For, for, for 18 grand.

Especially being close to the California, so.

Many people are scared of the battery when that is no longer scary and because right now the prices are discounted drastically because everyone's scared of the battery. Right. When that becomes a non issue, are we going to look at it and say I should have bought up dozens of these for my fleet because they're going to run to half a million miles and there's no more room for depreciation from an asset value standpoint. Right. Like how much cheaper can these things get? It's a running vehicle. Right. So I wonder, I wonder if we're going to look at this little opportunity right now and maybe regret not going in deeper.

I think we may.

Anyways.

Thank you.

Thank you. Hey, here we are with Stephen of Royal Enterprise Service.

Royal Administration Services.

Royal Administration Services. And they got a big old battery on their sign. You know what that means, Luke?

We're talking EVs, baby.

We're talking EVs. So Stephen, what do you do? How can you help the independent dealer?

Sure. We offer the most inclusive electric vehicle and hybrid vehicle extended warranty on the market, pretty much. So we cover the battery 10 years, 150,000 miles beyond the manufacturer. Thing we're really excited about is nationwide roadside charging through our partners through NSD and Quest X. Really exciting. So if you run out of charge on the road, we're going to help those consumers get Back on the road.

Range anxiety.

Range anxiety. So we're overcoming the objections needed in the office.

Yeah, range anxiety. I went, you know, so a while back, we went up and visited you, and I had range anxiety the entire time I was riding with you. Because you take it almost down to zero all the time. You scare them.

Yeah. I hit a headwind coming down here this weekend, and I didn't think I was gonna make it into Vegas, but I did. So if I was stranded on the side of the road. Your service contract provides for that. Towing. You drag out a diesel generator, you plug it in, and we'll get them.

Back on the road. We'll get enough juice to get you to the next charger. If you do have some sort of catastrophic failure.

Yeah.

We can go ahead and properly flatbed that vehicle.

So warranties on the battery. That's the number that's the scariest thing for all buyers, right? Oh, it's gonna cost me 20 grand to put a new battery in this. I don't want to buy it, you know. So your service contract for a reasonable amount provides that comfort that if my battery drops below 70%.

So actually we actually kick in at 70% degradation. So as long as you have above 80% degradation at the time of purchase.

Okay.

You fall below 70, we'll repair or replace within 5% of the original range.

Wow. And how long have y' all been doing this? Because I'm very interested in the. The data that we have to talk about EV batteries now. We've been doing hybrid batteries for 20 plus years now, so we have that information. Is an EV battery close to the same as what a hybrid battery does?

Yeah.

Calculating the EV battery is pretty tough, actually. There's 14,000 different premium price points. The batteries, it's really calculated on size.

Really?

That's how they came out.

Size matters.

Sure does in this case. And you know, lastly, the last thing, the real feather in our cap, you know, one of our missions is how do we make it easy on the dealership? And one of those things was we actually partnered with Cerpa Solutions. We actually can. We do nationwide battery recycling, which means is once a dealer replaces that battery, what are they going to do with that battery?

Right.

I've got several in the backyard.

I've got several hybrid batteries sitting in my dealership, and I can't figure out.

What to do with them.

And what a lot of people don't know is, per the EPA, you have 15 days to get that battery off your lot.

I don't actually. I don't have those. Yeah, no, you.

But you are subject to.

Fine.

So partnered with our great partners over at cerba, we'll go ahead and get the battery picked up from the dealer within 15 days per the EPA regulations. And we'll package or move it so the technician doesn't have to waste any time dealing with the dealer.

So how long have y' all been selling the EV service contract?

Yep, the EV service contract. We've been selling it now. It's been in the dealers about a year now. It took us a couple years to create the product.

Okay.

I assume. Yeah, there's a huge need. Yep.

So we're actually in 7,000 dealers so far nationwide. Between our partners with Royal Administration with a fully charged product. We also partnered a couple of white label things where we're also available through other streams as well.

Awesome. Yeah.

Hey, thank you so much for your time.

No, my pleasure.

Absolutely. Great meeting you guys.

Thank you.

All right. Okay, here we are with Robin of Blitzpay. Robin, what does Blitzpay do and how can it help the independent dealer?

Hi, guys.

Welcome to Vegas.

Lot of fun.

Good to be here. Familiar looking face, this lady.

Yeah, she's been open for.

Blitzpay is a platform that allows merchants to invoice, communicate and collect via text from their customers. It allows your customers to self serve. Industry Standard says that 30% of your collectors time is spent cashiering.

I 100% agree with.

100% of her dime.

Unless you use a blitz bag.

Put the onus of cashiering back on the technology. I call Jeff and I say I have a payment due today for $300. But I have it on three different cards.

Run, run. My card ending in three, five, seven. Yeah.

So what happens for the next 25 minutes?

They just try every single card possible under the sun and who knows where they got the card from?

That's exactly right. But If I've got three different payments on three different cards, if I've got $100 on each card, rather than spending 25 minutes on the phone having a nice conversation with the collector, I use my technology. Consumer's happy. They get the ability to engage in a way that they want. Nobody has to talk to a collector. You save time and money and everybody goes down the road in their car that they just made a payment on.

Yeah, I use books pay. Jeff uses blipspay. We incur you to use glutes, baby.

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