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Looking for lenders in Northeast that sign large independents...
We are a fairly large independent dealer with 3 locations in Rhode Island. We have our own bank that handles approximately 65% of our deals in house (BHPH) monthly. The other 35% are financed with outside lenders such as TD Bank, Wells, Chase, Americredit, etc.
I'm looking for additional lenders in the northeast that will sign a large independent that does the same number of units if not more than some franchised dealers. Financials, facilities, compliance documentation not a problem. It's just very frustrating trying to find anyone willing to sign an independent.
Our paperwork and packages are clean and usually fund the next day. Looking for prime and sub-prime.
Any suggestions would be appreciated. Thanks.
Replies to This Discussion
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Permalink Reply by Ian Anderson on -
Hi, my name is Ian Anderson, President of Westlake Financial Services. Please call me at 323.692.8851
Products
- Full Spectrum from 0 FICO to 900 FICO
- Portfolio Purchases
- Payment Sharing for Buy Here Pay There
- 30% of deals funded same day, most are within 2 days
I'm looking forward to your call.
Regards,
-ian
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Permalink Reply by Toby Reiley on
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Ian Anderson at Westlake (Prime to SubPrime - the prior responder) and we at FinCo (Deep Subprime) can certainly cover the waterfront for you. Here at FinCo we specialize in funding dealers who want to support a BHPH type customer. We partner with dealers, and give the dealer access to capital, expert operations and a migration path when the time comes to sell the dealership.
Feel free to give me a call at 781-639-6000. We currently fund lots of buyers who live in RI and could be licensed there quickly if you volume is there.
Toby Reiley, President FinCo Management
781-639-6000
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Permalink Reply by Peggy McCaslin on
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Hi Paul,
My name is Peggy McCaslin. I am the VP and Director of the DrivingSense alternative financing program for my company, Auto Financial Group. We are partnered with credit unions across the United States and may be able to help you connect with a financial institution who could help with the funding you need. Additionally, the DrivingSense product may be something of interest to you on all deals (both in house and through lenders.) It is a lease like financing option on future, current, and up to three year pre-owned vehicles (including light trucks, vans and SUVs). We guarantee the residual and the buyer has a sell back option at maturity. We also handle all of the end of loan term notifications, and vehicle remarketing phase. Please call me at your convenience to discuss: 877-354-4234, Ext 107.
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Permalink Reply by Steve Cortes on
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Paul,
Have you looked at Credit Acceptance Cortporation? I am in Florida but we have Market Area Managers nationwide. I have attached a link to our website. If you like what you see go to "Become a Dealer-Partner" and leave your contact info to get a local MAM to contact you.
http://www.creditacceptance.com/
Thank You,
Steve Cortes
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Permalink Reply by Sara Carter on
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When you get your lending in place, I would like to talk to you about auto finance leads! Check out www.carloan.com We are an auto finance lead source and provde credit applications to dealers that want to work with car buyers who need financing first. Best of Luck!
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