Originally Posted by Akers04Coupe
I have knowledge and work for the BIGGEST dealer who has 8 lines of product (over 6 PAVED lots) in TN with over 1000 used cars in inventory..
I DONT work at a buy here/pay here place guys...
Kim is right and she knows her stuff HOWEVER, every market is different and being in TN I can assure you when we get a 620 credit score in my market we do cartwheels...
We also dont carry lines of product like Kim mentioned (no 100K cars) so our market is more of a 400 a month car payment when they finance.
Lenders SUCK now, making it nearly impossible to get a deal funded. If you printer is off 1 mm on a contract they kick it back and you have to redo the entire thing. The joys of the car business
Kim do you have any leads for some good subprime lenders?...I need some
Who are you guys using right now? What product line to do sell? Many of the banks are doing subvention right now for certain product lines. I can think of 10 deep sub-primes that you should be using and another 10 near primes. That doesn't even include your equity lenders. I do know of 1 sub-prime & 1 prime bank that are funding ***** right now, but any high volume dealer should be getting quite a bit of slack. How many F&I managers to you have? What is your turn right now? I know that most banks do business in TN - its not a blue law state or anything. Plus, Nashville is one of the big car boom towns right now. I know our buying centers in TN are doing quite well.