What was the average down payment (cash/trade/deferred) for Byrider stores in the first quartile?
Byrider Franchise · 2025 FDDAnswer from 2025 FDD Document
) of Franchisee-Owned Stores Open 24+ Months as of 12/31/2023
STORE RESULTS BROKEN DOWN INTO QUARTILES
| First Quartile = 23 Stores | Average | Exceed Avg. | Median | Second Quartile = 23 Stores | Average | Exceed Avg. | Median |
|---|---|---|---|---|---|---|---|
| Vehicle Purchase Price 26 | $6,746 | 17.39% | $7,235 | Vehicle Purchase Price 26 | $6,607 | 47.83% | $6,721 |
| Reconditioning Expense 27 | $2,211 | 60.87% | $2,126 | Reconditioning Expense 27 | $2,215 | 52.17% | $2,198 |
| Down Payment (cash/trade/deferred) 28 | $2,380 | 30.43% | $2,187 | Down Payment (cash/trade/deferred) 28 | $2,439 | 52.17% | $2,455 |
| Gross Mark-Up 29 | $6,988 | 52.17% | $7,007 | Gross Mark-Up 29 | $6,948 | 52.17% | $7,092 |
| Installment Contract Amount Financed 32 | $15,522 | 60.87% | $15,689 | Installment Contract Amount Financed 32 | $14,442 | 52.17% | $14,621 |
| Interest Rate 33 | 20.68% | 34.78% | 20.32% | Interest Rate 33 | 21.55% | 47.83% | 21.23% |
| Monthly Payment Equivalent Amount 34 | $495 | 52.17% | $495 | Monthly Payment Equivalent Amount 34 | $485 | 43.48% | $478 |
| Discount Rate 30 | 29.13% | 56.52% | 30.00% | Discount Rate 30 | 29.86% | 78.26% | 30.00% |
| Average Trade Percentage 37 | 19.06% | 30.43% | 16.32% | Average Trade Percentage 37 | 17.95% | 56.52% | 18.38% |
| Average CoBuyer Percentage 38 | 17.46% | 39.13% | 15.89% | Average CoBuyer Percentage 38 | 15.71% | 39.13% | 14.11% |
| All Delinquency (% of portfolio 1 or more days delinquent) 35 | 9.27% | 60.87% | 8.36% | All Delinquency (% of portfolio 1 or more days delinquent) 35 | 10.40% | 52.17% | 10.12% |
| Net Charge Off (as % of Portfolio Amount) 39 | 0.96% | 56.52% | 0.93% | Net Charge Off (as % of Portfolio Amount) 39 | 1.17% | 52.17% | 1.16% |
| Static Pool Charge Off (Originations from 2 Years Prior) 40 | 19.43% | 60.87% | 18.70% | Static Pool Charge Off (Originations from 2 Years Prior) 40 | 24.43% | 52.17% | 24.23% |
| Average Cash on Cash (Originations from 2 Years Prior) 41 | 115.86% | 56.52% | 116.54% | Average Cash on Cash (Originations from 2 Years Prior) 41 | 111.60% | 52.17% | 112.08% |
| Warranty Expense/Vehicle Sold 31 | $656 | 43.48% | $735 | Warranty Expense/Vehicle Sold 31 | $740 | 52.17% | $714 |
| Average Monthly Marketing Expenses 42 | $5,552 | 47.83% | $6,204 | Average Monthly Marketing Expenses 42 | $7,147 | 60.87% | $6,716 |
| Average Monthly Operating Expenses 36 | $176,686 | 56.52% | $165,214 | Average Monthly Operating Expenses 36 | $159,927 | 60.87% | $151,437 |
| Third Quartile = 23 Stores | Average | Exceed Avg. | Median | Fourth Quartile = 23 Stores | Average | Exceed Avg. | Median | |--------------------------------------------------------------------------|-----------|-------------|-----------|--------------------------------------------------------------------------|-----------|-------------|-----------| | | | | | | | | | | Vehicle Purchase Price 26 | $6,808 | 56.52% | $6,609 | Vehicle Purchase Price 26 | $6,139 | 52.17% | $6,139 | | Reconditioning Expense 27 | $2,392 | 56.52% | $2,325 | Reconditioning Expense 27 | $2,573 | 52.17% | $2,560 | | Down Payment (cash/trade/deferred) 28 | $2,430 | 43.48% | $2,322 | Down Payment (cash/trade/deferred) 28 | $2,376 | 47.83% | $2,347 | | Gross Mark-Up 29 | $6,901 | 52.17% | $6,915 | Gross Mark-Up 29 | $6,807 | 43.48% | $6,578 | | Installment Contract Amount Financed 32 | $14,878 | 34.78% | $14,503 | Installment Contract Amount Financed 32 | $14,541 | 56.52% | $14,661 | | Interest Rate 33 | 21.24% | 39.13% | 21.00% | Interest Rate 33 | 21.11% | 34.78% | 21.00% | | Monthly Payment Equivalent Amount 34 | $486 | 39.13% | $482 | Monthly Payment Equivalent Amount 34 | $485 | 47.83% | $485 | | Discount Rate 30 | 27.83% | 69.57% | 30.00% | Discount Rate 30 | 28.54% | 86.96% | 30.00% | | | | | | | | | | | Average Trade Percentage 37 | 18.94% | 39.13% | 14.37% | Average Trade Percentage 37 | 18.68% | 43.48% | 15.79% | | Average CoBuyer Percentage 38 | 12.96% | 43.48% | 11.24% | Average CoBuyer Percentage 38 | 13.01% | 47.83% | 12.87% | | | | | | | | | | | All Delinquency (% of portfolio 1 or more days delinquent) 35 | 11.21% | 43.48% | 11.94% | All Delinquency (% of portfolio 1 or more days delinquent) 35 | 14.18% | 73.91% | 11.14% | | Net Charge Off (as % of Portfolio Amount) 39 | 1.22% | 43.48% | 1.32% | Net Charge Off (as % of Portfolio Amount) 39 | 1.10% | 52.17% | 1.09% | | Static Pool Charge Off (Originations from 2 Years Prior) 40 | 25.56% | 52.17% | 25.25% | Static Pool Charge Off (Originations from 2 Years Prior) 40 | 23.57% | 56.52% | 21.54% | | Average Cash on Cash (Originations from 2 Years Prior) 41 | 110.69% | 56.52% | 111.25% | Average Cash on Cash (Originations from 2 Years Prior) 41 | 111.38% | 60.87% | 112.56% | | | | | | | | | | | Warranty Expense/Vehicle Sold 31 | $709 | 56.52% | $687 | Warranty Expense/Vehicle Sold 31 | $791 | 56.52% | $762 | | Average Monthly Marketing Expenses 42 | $5,739 | 60.87% | $4,744 | Average Monthly Marketing Expenses 42 | $5,550 | 43.48% | $6,834 | | Average Monthly Operating Expenses 36 | $170,450 | 73.91% | $156,971 | Average Monthly Operating Expenses 36 | $169,477 | 47.83% | $173,368 |
Byrider Franchised Stores Systemwide Average Figures for Company-Owned Stores Included in Tables A-3 and A-4
Based on 2 Years (period ending December 31 in 2022 and 2023) of Company-Owned Stores Open 24+ Months as of 12/31/2023
| 8 Franchise Locations | Average | Exceed Avg. | Median | |--------------------------------------------------------------------------|-----------|-------------|-----------| | | | | | | Vehicle Purchase Price 26 | $5,886 | 50.00% | $5,872 | | Reconditioning Expense 27 | $2,868 | 25.00% | $2,927 | | Down Payment (cash/trade/deferred) 28 | $3,393 | 37.50% | $3,642 | | Gross Mark-Up 29 | $7,447 | 25.00% | $7,535 | | Installment Contract Amount Financed 32 | $14,572 | 50.00% | $14,580 | | Interest Rate 33 | 21.51% | 25.00% | 22.02% | | Monthly Payment Equivalent Amount 34 | $477 | 37.50% | $484 | | Discount Rate 30 | 30.00% | 100.00% | 30.00% | | | | | | | Average Trade Percentage 37 | 32.93% | 50.00% | 33.58% | | Average CoBuyer Percentage 38 | 23.69% | 37.50% | 25.50% | | | | | | | All Delinquency (% of portfolio 1 or more days delinquent) 35 | 9.02% | 75.00% | 8.70% | | Net Charge Off (as % of Portfolio Amount) 39 | 0.78% | 37.50% | 0.79% | | Static Pool Charge Off (Originations from 2 Years Prior) 40 | 16.31% | 50.00% | 15.83% | | Average Cash on Cash (Originations from 2 Years Prior) 41 | 123.40% | 37.50% | 124.90% | | | | | | | Warranty Expense/Vehicle Sold 31 | $1,012 | 50.00% | $992 | | Average Monthly Marketing Expenses 42 | $13,377 | 50.00% | $12,961 | | Average Monthly Operating Expenses 36 | $171,195 | 37.50% | $178,632 |
Byrider Franchised Stores Systemwide Average Figures for Company-Owned Stores Included in Tables A-3 and A-4
Based on 2 Years (period ending December 31 in 2022 and 2023) of Company-Owned Stores Open 24+ Months as of 12/31/2023
STORE RESULTS BROKEN DOWN INTO QUARTILES
| First Quartile = 2 Stores | Average | Exceed Avg. | Median | Second Quartile = 2 Stores | Average | Exceed Avg.
Source: Item 19 — Financial Performance Representations (FDD pages 63–81)
What This Means (2025 FDD)
According to Byrider's 2025 Franchise Disclosure Document, the average down payment (cash/trade/deferred) for stores in the first quartile varies depending on the number of stores included in that quartile. For the group of 23 stores in the first quartile, the average down payment was $2,380. When the first quartile consists of 25 stores, the average down payment increases to $2,597. However, when the first quartile only includes 2 stores, the average down payment is significantly higher at $3,840.
These figures represent the average down payment amount that Byrider customers made at these stores, combining cash, trade-in value, and deferred payments. A prospective franchisee should consider these figures as benchmarks, understanding that actual down payments can fluctuate based on local market conditions, customer demographics, and individual store management practices.
The varying average down payments across different quartile sizes highlight the importance of understanding the composition of the data. The average down payment for the 2-store quartile is notably higher than the others, which may be due to unique market conditions or business strategies employed by those specific locations. A franchisee should investigate the factors contributing to these differences to better understand the potential range of financial performance.
It is important to note that these are averages, and individual store performance may vary significantly. The FDD also provides the percentage of stores exceeding the average, which gives further insight into the distribution of performance within each quartile. A prospective Byrider franchisee should carefully analyze these figures in conjunction with other financial performance representations and conduct thorough due diligence to assess the potential risks and rewards of investing in a Byrider franchise.