Secondary Finance

Shannon Hammons
Looking to add some more Secondary lending sources. Does anyone have some good ones that they would recommend?
Clint Jones
Who do you have right now?
Shannon Hammons
Credit Acceptance, Santander, Gm Financial, Wells Fargo
Michael Bilson
Blue Sky Marketing is highly recommended by many dealers I work with.
Clint Jones
Westlake is another that I would take a look at. Their computer system is fantastic, and will calculate your entire inventory for every customer (much like CAC) with the difference being that the deals are Non Recourse. There is a learning curve when it comes to really understanding their system, but they have a good training department. The system will cost you about $50/month plus the cost of the credit reports. You don't even have to subscribe to NADA or Kelly to do business with them. They have their own book system. I would also look into Credit Unions in your area. CUDL is a computer system that is like Dealer Track. You can talk with them and find out what Credit Unions in your area are affiliated with CUDL. Many credit unions buy really deep (<600) because they are betting on someone keeping their job. Most payments are payroll deduct.
Shannon Hammons
Where are getting Skopos and Westlake. We have all of the Credit Unions, but they won't buy as deep as we are needing.

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