"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…"
"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, 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…"
"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…"
"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…"
"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…"
"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,…"
"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…"
"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…"
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
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