Sub Prime Inventory and Companies

Alexander  S

Hello,

 

I have a quick question for you experienced fellas. I am opening up my own dealership at the end of the month and would really like an idea on what kind of inventory subprime lenders ask for. I'm not starting with a ton of cash neither a floorplan. Is there a certain requierement to be able to sign up with this subprime lenders? Westlake, golden finance, credit acceptance etc? 

I'm totally okay with cash sales but would feel a lot for confident if I could offer financing as well....

Marie Nies

Each lender is a little different, you'll just have to call around and see. I would also look at Anaco Financial Group and ask for Jim Lally. 

Martins Ville

Most subprime lenders charge high fees, and stick your customers with high rates, it's a problem in America. I'd rather tell you to contact some local credit unions. You might be able to actually then make a profit and survive. Good luck. Sure you don't want to be a BHPH?

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