An automobile financing program can help individuals who have less than perfect credit or limited income to purchase a car. For each contract a dealer sells, they can receive money back. A financial company can approve up to 130% of the loan value and are automatically determined in a fast and accurate response. A car dealer will receive the help of knowledgeable marketing representatives in the field. These representatives have backgrounds in sales techniques, advertising, application, approval and contract packaging to maximize a dealer’s profit and provide fast funding.
Individuals who have previously filed bankruptcy or poor credit can purchase a new or used vehicle without any requirement for a down payment. Individuals who have an open or discharged Chapter 7 bankruptcy or a trustee approved Chapter 13 can qualify for financing. In most cases, receiving financing after a bankruptcy has occurred can be very difficult if an individual doesn’t know whom to contact. Certain automobile financing companies are genuinely concerned about helping individuals that need reliable transportation. These types of companies will work with a car dealership to give them another option of financing for any potential buyers.
Car dealerships aren’t interested in waiting for a day or more for approval of a car loan. It can be difficult for them to sell cars whenever a potential buyer has to have a minimum FICO score or has no credit at all. Some credit applications want a potential buyer to have some type of previous automobile credit history. When a dealer works with Consumer Portfolio Services Inc, these types of challenges can remove. Most individuals are approved when the credit application is accurately completed and the individual has stated the correct income and job history.
When a car dealership works a portfolio service, they will receive leads from customers who want to buy a car and have some type of credit problem that lives in the area. This can increase the dealer’s sales and each application will have a rapid approval or denial. A dealer can choose to be a franchised or non-franchised program. In either type of program, they will receive the dealer training and support they need.