Auto Finance Companies

Information

Auto Finance Companies

Use this forum to ask questions or share information about auto finance and leasing companies. One suggestion - rather than writing on the "wall", keep the discussions organized by adding to an open topic or by starting another discussion.

Members: 295
Latest Activity: Feb 19

IMPORTANT INFORMATION - BE SURE TO READ THIS!

Attention.jpg

Be sure to click the "VIEW ALL" link below the last Discussion Topic. Only a small amount of the total discussion topics are visible when you land on this page, so you must use the link to see all the topics of interest.

Discussion Forum

Subprime lenders in Texas

Started by David. Last reply by Mike M Apr 12, 2012. 17 Replies

Western Funding has been sold

Started by Harlene Doane. Last reply by Don Jasensky Oct 18, 2010. 1 Reply

2010 Auto Finance Survey

Started by Harlene Doane Sep 14, 2010. 0 Replies

Portfolio Analysis Tool

Started by Lisa Bundy Jul 29, 2010. 0 Replies

Does anyone have some names of good lenders for independents?

Started by Anthony Haboyan. Last reply by Michalea Barrett May 5, 2010. 13 Replies

Credit Loosening Up?

Started by Harlene Doane. Last reply by Tom White Jr. Oct 25, 2009. 5 Replies

Looking for Feedback on Westlake Financial

Started by Mary. Last reply by Mike Dorazio Dec 19, 2009. 5 Replies

Cash for Clunkers Program

Started by Dugan Anderson. Last reply by Gene Daughtry Aug 16, 2009. 2 Replies

Gulf Financial

Started by Greg Goebel. Last reply by John Belo Jun 29, 2009. 3 Replies

Comment Wall

Comment

You need to be a member of Auto Finance Companies to add comments!

Comment by Mike "BK" Anthony on December 30, 2010 at 4:43pm

I just told Westlake to get out of my dealership today as they "RESCORED" one of my deals after I sent in my deal with a Yes/Yes and no changes in the info provided, this is the second time (and the second time I have stoped doing business) I cannot accept a lender changing my call back without a reason except "we rescored it". Sorry Mike  Westlake is a BAD word with me!

Comment by Mike Dorazio on December 30, 2010 at 4:32pm

Westlake Financial is a true full spectrum lender. :D

Comment by Mike "BK" Anthony on December 30, 2010 at 4:28pm
Thanks for the imput Ben, Jeff I will call.
Comment by Jeff Carress on December 30, 2010 at 4:17pm

Ben,  A "holdback" gives an idea that he might have money coming down the road (think Credit Acceptance) A "discount" is taken from a deal based on the lenders perceived chances of collecting on that deal. And there is no notion by the dealer that they will get any more money on that deal. There is a place for both types of lenders to fill different nitchs.   I am betting Mike knows the difference since he does business with both types of lenders. But I thank you for giving me the chance to give you my idea of the difference. Just my opinion.

 

Not a rookie here either

Comment by Ben Misra (secondarypro) on December 30, 2010 at 3:48pm

What is the difference between "Holdback and Discount" ?

I am new to sub prime.

Comment by Jeff Carress on December 30, 2010 at 3:45pm

Ben

 You may have a point. Ours is not a program for rookies. You need to know how and be willing to structure a deal. If you do we are competitive with all the real sub-prime lenders on the market to day. and you do have to know how to put a funding package together.  I have dealers who try to put together subprime deals on internet advertised retail prices and that isn't going to work for a true subprime customer. I also have dealers who take 20 days plus to get funded every time I get a deal from them.   But Mike does a lot of business and alot of it sub sub prime. So I'm betting he won't have that problem. I'm betting he knows the difference between a "holdback and a discount and will know how to put a funding package that will get funded in 2 or three days or even same day.  Mike I left you a voice mail. And Ben I invite you to call me at the number below to chat about what we do as it is apparent that is has been a long time since you have looked at us or our program. Will be glad to give you referances such as Greg Gobal who did consulting for a wonderful dealer in Mo who did 44 with us this month and funds in less than a week. Give me a call. Uncle Jeff

Comment by Ben Misra (secondarypro) on December 30, 2010 at 3:22pm

BK, they are probably not your cup of tea. Huge holdbacks and slow funding. They also have very inconsistant in their callbacks.

Comment by Gary Campbell on December 30, 2010 at 2:54pm
Ok Jeff, I called but you don't do California. Look me up when your in my state.
Comment by Jeff Carress on December 30, 2010 at 2:25pm
Hi Mike My name is Jeff Carress (in house for Rep for ACC) Please give me a call at 800 810 2202 ext 1227 and we can see if we would be a good fit for each other. I know you do business with the "other" company here in Southfield Mi so I am sure we can make you a very happy man.   Thanks "Uncle Jeff"
Comment by Mike "BK" Anthony on December 30, 2010 at 1:57pm

I am considering signing up ACC (Automotiver Credit Corp). Any negatives or positives? Thanks

 

 

Members (295)

 
 
 

© 2014   Created by Greg Goebel.

Badges  |  Report an Issue  |  Terms of Service