"Tom-I am new to this site.If you still need capital for funding and floor plan I may be able to help you. Please contact me at jweeden@prime-eagle.com or call me at 810-938-7740.
Thanks-Jerry Weeden"
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jerry weeden replied to Tom Strellec's discussion RTO Lending Sources in the group Ren’T’Own® Lease’T’Own™
Tina Faucette left a comment for Tom Strellec"Hi Tom, we have been doing bhph for 20 years. Have always dabbled with the idea of rto or lhph. Can you tell me how you integrate both bhph and rto, which do you like better and why? Any advise or info you can provide would be great. BTW nice to…"
Michael Clinton replied to Tom Strellec's discussion RTO Lending Sources in the group Ren’T’Own® Lease’T’Own™"The ideal way to start is with a bank line, or some other type of funding, but once you have 200+ units out, then you'll be doing $60k + monthly. It's easy to fund growth internally once you reach that point, and then begin to really pay…"
Tom Strellec replied to Tom Strellec's discussion RTO Lending Sources in the group Ren’T’Own® Lease’T’Own™"Dan, Thanks for the input. I will be giving you a call for sure. How can I get your phone information. my email is advantageautosales@gmail.com
Thanks Tom"
Dan Blowers replied to Tom Strellec's discussion RTO Lending Sources in the group Ren’T’Own® Lease’T’Own™"Tom, I'm sorry to hear that the banks in your area aren't receptive. It might be the approach you are using with them. It is hard to get your banker to view you as something other than a car dealer. You look at talk like a car dealer and…"
Tom Strellec replied to Tom Strellec's discussion RTO Lending Sources in the group Ren’T’Own® Lease’T’Own™"Dan, I have knocked on door but the answer is always the same. We arent entertaining those types of loans. We have mostly credit unions and banks that dont do business leasing here. I am not sure where to knock next. Do you know of any banks doing…"
Dan Blowers replied to Tom Strellec's discussion RTO Lending Sources in the group Ren’T’Own® Lease’T’Own™"Hi Tom, The financing of RTO has changed dynamically in the last year. We are very unlikely to see any national lender that will finance RTO all across the nation. We are seeing many large banks and business banks funding RTO dealers. The change in…"
RALPH MARINACCI replied to Tom Strellec's discussion RTO Lending Sources in the group Ren’T’Own® Lease’T’Own™"I thought I was the only one having trouble with DSC. In addition to the 50-60% fees and interest, I've been forced to hire a part time person (more expense) just to handle insurance issues. I've been shut off three times in 45 days…"
Billie Sue DeForest replied to Tom Strellec's discussion RTO Lending Sources in the group Ren’T’Own® Lease’T’Own™"WE ARE NEW TO RTO / LTO...WE STARTED IN LATE OCT/ EARLY NOV W 20 UNITS ROLLING.
SORRY! SOUNDS LIKE A GOOD PROBLEM TO HAVE. WHAT ABOUT A REGULAR WORKING CAPITAL LOAN USING PROPERTY AS COLLATERAL? INTEREST RATES ARE SUPER LOW THAT WAY! BEST WISHES,…"
Michael Clinton replied to Tom Strellec's discussion RTO Lending Sources in the group Ren’T’Own® Lease’T’Own™"I too am an RTO dealer, but I have found that it is much more profitable to fund growth from existing cashflow. I originally started with outside funding,credit lines and DSC, but it is quite easy to get buried in the monthly note from the credit…"
Steve replied to Tom Strellec's discussion RTO Lending Sources in the group Ren’T’Own® Lease’T’Own™"Hi Tom, It is nice to hear about your success in the RTO. We too have started to agressively pursuiting our RTO customers. As we are still in the infant stage of this new concept, we recognize how it can a great way create additonal business. We are…"
Tom Strellec added a discussion to the group Ren’T’Own® Lease’T’Own™
RTO Lending Sources
Hello, I am new to this forum. I was wondering if anyone had a lead on companies offering RTO LTO dealers capital. I am currently a DSC RTO member and a Manheim (MAFS) Recievables dealer and am running low on funding. Our team here is trained and dedicated to BHPH and RTO. with almost 250 cars out. We have a line of good people from the area with long time jobs, strong roots, and bad credit, all capable of meeting $300 plus monthly payments. They have the money down and are ready to buy but I…See More
Tom Strellec joined Mitch Berndt's groupRen’T’Own® Lease’T’Own™
Learn about Ren’T’Own®/Lease’T’Own™ and how it can compliment your current BHPH business model.
Profile Information
- Company
- Advantage Auto Sales
- Position
- Pres.
- Dealership, Allied Industry or Finance Company?
- Dealership
- Your web site
- http://www.advantageautosales.net
- Biography/Work Summary
- Started in house BHPH Jan. 1, 2006
Dealer #23 in the Manheim recievables program. Manheim (MAFS) funded. Oct., 2007
Northland RTO member
DSC RTO member
Complete Staff trained and dedicated to BHPH and RTO
- Favorite Quote
- We can help!
- Activities Away From Work
- Family! Family! Family!
Flying.
- Birthday
- November 12
Comment Wall (1 comment)
- At 4:11pm on February 20, 2009, Tina Faucette said…
- Hi Tom, we have been doing bhph for 20 years. Have always dabbled with the idea of rto or lhph. Can you tell me how you integrate both bhph and rto, which do you like better and why? Any advise or info you can provide would be great. BTW nice to meet you. Tina
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