Used car shop finds second spot on Broad

J.D. Byrider will open a new location this summer. Photo by Michael Thompson.

J.D. Byrider will open a new location this summer. Photo by Michael Thompson.

A used car franchise from the Midwest is getting in gear near Scott’s Addition.

J. D. Byrider plans to open a new dealership by next month at 4505 W. Broad St. It’ll be the second location for local franchisee Craig Baker, who opened Richmond’s first J.D. Byrider in 2012 at 7400 Midlothian Turnpike.

J. D. Byrider is an Indiana-based company that launched in 1989. It has 167 locations operating in 34 states and sells and finances used cars. Baker said he owns the development rights for the Richmond-Petersburg and Norfolk-Virginia Beach areas.

“In a previous life I was in consumer finance,” Baker said. “This business sort of found me. It just caught my interest.”

J.D. Byrider sells used cars to people with bad credit. The cars cost between $8,000 and $12,000. He wouldn’t talk sales numbers but said SUVs and full-sized vehicles are his popular sellers.

“We’re a stepping stone to help improve credit, then for the next car they can go to a more traditional dealership,” Baker said.

Baker said he purchases his vehicles from auctions, and the business makes its money on the financing. The cars are financed by a J.D. Byrider sister company called CNAC.

Baker would not say how much it will cost to open the new J.D. Byrider, which was previously a Hertz rental car operation. He is financing his expansion efforts with First Tennessee Bank.

Baker said J.D. Byrider’s main competitors in the used car sales and financing market are Drive Time, which has two Richmond-area locations, and America’s Mart, which does not have a presence locally.

The new 2,500-square-foot Broad Street space isn’t far from other car dealerships, including Royal Chevrolet and Richmond Ford Lincoln.

“A smarter man than me once said, ‘Shoot where the ducks fly,’” Baker said. “We like to be where other car dealers are.”

Baker said he has more locations in mind.

“In about two years, I’ll be heading eastward,” he said.

J.D. Byrider will open a new location this summer. Photo by Michael Thompson.

J.D. Byrider will open a new location this summer. Photo by Michael Thompson.

A used car franchise from the Midwest is getting in gear near Scott’s Addition.

J. D. Byrider plans to open a new dealership by next month at 4505 W. Broad St. It’ll be the second location for local franchisee Craig Baker, who opened Richmond’s first J.D. Byrider in 2012 at 7400 Midlothian Turnpike.

J. D. Byrider is an Indiana-based company that launched in 1989. It has 167 locations operating in 34 states and sells and finances used cars. Baker said he owns the development rights for the Richmond-Petersburg and Norfolk-Virginia Beach areas.

“In a previous life I was in consumer finance,” Baker said. “This business sort of found me. It just caught my interest.”

J.D. Byrider sells used cars to people with bad credit. The cars cost between $8,000 and $12,000. He wouldn’t talk sales numbers but said SUVs and full-sized vehicles are his popular sellers.

“We’re a stepping stone to help improve credit, then for the next car they can go to a more traditional dealership,” Baker said.

Baker said he purchases his vehicles from auctions, and the business makes its money on the financing. The cars are financed by a J.D. Byrider sister company called CNAC.

Baker would not say how much it will cost to open the new J.D. Byrider, which was previously a Hertz rental car operation. He is financing his expansion efforts with First Tennessee Bank.

Baker said J.D. Byrider’s main competitors in the used car sales and financing market are Drive Time, which has two Richmond-area locations, and America’s Mart, which does not have a presence locally.

The new 2,500-square-foot Broad Street space isn’t far from other car dealerships, including Royal Chevrolet and Richmond Ford Lincoln.

“A smarter man than me once said, ‘Shoot where the ducks fly,’” Baker said. “We like to be where other car dealers are.”

Baker said he has more locations in mind.

“In about two years, I’ll be heading eastward,” he said.

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George Myers
George Myers
8 years ago

Wow. Just what we needed. The one thing Richmond is really short of is used car dealers that cater to the low-income working people. If only we had more payday and title lenders, too. That’s what low-income people really need, more rip-off artists ready to part them from their money. The only question is why you are giving free advertising to one car dealer when there are a million of them already ready to make sky-high interest deals

Brian Ezzelle
Brian Ezzelle
8 years ago

Ultimately it will be the market that determines whether or not this business is needed. Ever heard of the concept of supply and demand?

Mike O'Meara
Mike O'Meara
8 years ago

If people did not need the service, businesses like the above would not be around. They provide a service with a warranty to those that need it. No different than Mack Mack, etc.

Would you rather have yet another trendy hipster restaurant? Or maybe yet another micro brewery?

How about let the market dictate it?

Or I guess based on George’s response only people with perfect credit should be allowed automobiles….

Joe John
Joe John
8 years ago

These dealerships provide a service for those who would otherwise not be able to purchase a car on credit. As a consumer finance professional, these buyers have “earned” their credit score. It’s no secret to them at all. It’s the price one pays for not living up to the obligations they’ve willingly entered into in the past. There’s risk to the lender for funding this transaction and there is an appropriate charge for the risk.

Bradley Purcell
Bradley Purcell
8 years ago
Reply to  Joe John

Not so fast. The credit score system itself is abusive and needs reforming. Studies show that many credit reports have mistakes that wrongly lower the person’s score, and that it is hard to get those errors corrected. Moreover, why does it ding one’s credit to close a credit card account? I thought that a comsumer’s right to choose whom they do business with was a cornerstone of the economy?

The problem is that too many people’s wages are too low, and stagnant. “Bad credit” is all too often the result of those conditions, not personal choices.

Ned Stevens
Ned Stevens
8 years ago

it would seem not withstanding comments the contrary that this store is one of 160 or so nationwide and a second one in Richmond .Hard to believe that this is a ripoff business . I think a dealer who finances folks who have credit problems serves the community of people who need help. Selling used cars with long term warranties seems to speak to a quality business

Lionel Hutz
Lionel Hutz
8 years ago
Reply to  Ned Stevens

Where is the indication that these cars come with any warranty, let alone a “long term” warranty? Most of these places sell cars with no warranty. I cannot speak to J.D. Byrider, but I have significant experience representing debtors and creditors in bankruptcy proceedings. I can can assure you that most of the dealerships are little more than predatory lenders and, contra Mr. O’Meara above, Mack Mack is one of the absolute worst offenders. Interest rates on a used car with in excess of 100,000 miles are routinely north of 25% APR. A number of these businesses are predicated on… Read more »

Mike O'Meara
Mike O'Meara
8 years ago

First let me respond to a couple of comments: 1. “Bad credit” is all too often the result of those conditions, not personal choices. Maybe in a few instances, however we as Americans in general often live well above our means. So, I believe it’s more of let the market dictate supply and demand for both goods and services offered. 2. To Lionel, in regards to Mack Mack. I went through a divorce and had much debt therefore I put myself in a situation where traditional credit was not an option and needed another car. I purchased a car from… Read more »

Brian Ezzelle
Brian Ezzelle
5 years ago

This business now appears to be closed and the building and lot has a sign that it is available for lease.

Ed Christina
Ed Christina
5 years ago
Reply to  Brian Ezzelle

Well, the article says he is opening this summer, and it’s not summer yet, is it?

Sean Stilwell
Sean Stilwell
5 years ago
Reply to  Ed Christina

The summer in question was the summer of 2015

Brian Ezzelle
Brian Ezzelle
5 years ago
Reply to  Ed Christina

Please reread the date of the article. Thanks.

Michael Dodson
Michael Dodson
5 years ago
Reply to  Brian Ezzelle

Both dealerships closed; J.D. Byrider has left several states including Virginia as they are being sued by several AGs, consumers and consumer groups for fraud and consumer lending complaints in 2016/17. The big case went to arbitration and about that time the dealerships all closed. Case in VA – Western District was Amanda Harold vs. TMC_Enterprises,_LLC_et_al (TMC is the parent of JDB)