By Katherine McDowell
Even more than new car sales, the BHPH industry is a business for entrepreneurs, start-ups, and self-motivators. This is an industry for those who lead rather than follow. It invites those who are not afraid to learn, grow, and take risks. Make no mistake: success in any sector of the BHPH business takes determination, and is measured over years or even decades. So when someone in this industry is officially recognized, you know they have earned it.
Each year, during the BHPH Conference, the NABD inducts new members into the NABD Buy Here Pay Here Hall of Fame. These are leaders who not only have consistently succeeded in this business, but who also have demonstrated moral fiber and integrity, contributed to the overall advancement the industry, displayed entrepreneurial acumen, and, perhaps most importantly, made significant steps in improving or supporting their local communities.
It is not an honor easily obtained, and is always an important moment at each BHPH conference. This year, in Orlando, Florida, the NABD held its induction ceremony for new Hall of Fame members on Monday, Oct. 23, 2017. The event began at 2:00 pm, and honored two inductees.
Rick Potter is the president of CAR Financial Services, Inc., a subprime auto finance organization associated with Atlanticus Corporation. He can boast more than 30 years of experience in finance, and holds a BS in Management from the University of Central Florida. His company currently purchases, floorplans, and provides servicing for thousands of BHPH and subprime portfolios. Serving more than 1,200 dealerships across the U.S., CAR Financial Services has flourished thanks to Potters’ leadership.
Stan Schwarz, who sadly passed away this year, founded and owned Passtime GPS Tracking Solutions, a division of Gordon Howard Associates, which he began with his partner Jeffery “Jake” Frank. Dedicated to serving both finance companies and auto dealerships, Stan and Jake spent more than 20 years developing, designing, and manufacturing electronics that continue to help move the industry forward. A part of the automotive industry since 1990, Stan’s experienced knowledge was matched by his education: an undergrad degree from Oakland University, and a Masters from Ball State University. His legacy will doubtlessly continue in the form of the organization he created.
Both BHPH industry leaders were honored at Monday’s ceremony, during which they officially took their coveted places in the Hall of Fame. They are places well-deserved after decades of hard work and achieved success. NABD members wishing to nominate someone as one of next year’s Hall of Fame inductees may fill out the appropriate sheet in the conference workbook, or by contacting NABD.