Creative Financing That Goes Outside The Box

Does your dealership provide in house financing to your sub-prime customers? If so, do you have seasoned auto loan portfolios that you would be interested in selling to us to raise cash for your operations?

We are seeking to purchase auto contract portfolios of $200,000 and higher where the payments have been collected for at least 3 months and where the contracts are not more than one payment past due. The price paid will vary based on many factors such as the age of the contracts (seasoning of 3+ months required), the quality of the contracts, the interest rate, the payment mode (weekly, bi-weekly or monthly payments) the value of the vehicle in relation to the loan balance, the underwriting criteria, and the consistency of the underwriting as well as many other factors. Our funding sources look to yield in the range of 18% - 20% on the funds they invest. The price range for monthly payment contracts is 70% - 85% of the remaining principal balance while the price range is 60% to 75% for weekly and bi-weekly payment contracts.

Other products that we offer auto dealers and auto finance companies that do in house financing are auto receivables revolving lines of credit and auto floorplan revolving lines of credit. The minimum auto receivables line considered is $5M with a minimum draw of $3M at closing, which then leaves a net line available for up to 3 years at $2M. Auto floorplan lines available are as small as $50,000 and can be over $1M for qualified dealers.

Please contact us today for assistance on this niche funding program.