Automobile Notes Funding

Progressive Capital Group

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What Is Automobile Note Financing?
An automobile note is a promissory note secured by an automobile. Typically, multiple automobile notes are packaged together and sold as a portfolio.

How Are Automobile Notes Created?
When individuals purchase new or used vehicles and they require financing, they qualify based on their credit worthiness. Individuals that do not fall into the "best" credit tier (as a result of slow pay, no pay, bankruptcy, etc.) are called sub-prime customers who must obtain financing through dealers, private investors, or specialized financing companies. Most often a higher rate than prime customers pay is charged.

Who Can Benefit from the Financing of Automobile Notes?
The dealer that sells cars on the basis of dealer financing typically does not want to wait three to five years to get paid. They will need the money in a lump-sum to purchase additional inventory, pay salaries, taxes, expenses, etc.
Do you sell cars? Do you have a portfolio of auto notes that you need to sell? Contact us for further information.

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