Adam Spory Blog
Total Posts: 1
AS
Midwest Auto Dealership
Dec 12, 2016
Lenders must lend or drivers won't drive
In my opinion, sub prime customers are being considered more risky by the lenders that once targeted them. Even traditional co-signers are proving not to be enough assurance for the non-conventional lenders. Money down has always been the easiest route for approval but if the credit challenged buyers had excess cash money, they probably wouldn't be credit challenged in the first place.
Is there a solution or is this how the bubble bursts?
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1 Comment
Scott Ordines
Hartley Buick GMC Truck
I have always found it is all about equity. No cash down? Have the appropriate inventory for subprime customers. Big Book, Lower Price. These cars will not be perfect, but either is your customers credit. You can remind them of this.