Subprime Lender
Do you have low credit customers that you just haven't been able to put in a car recently? Call them back in and lets get them financed and driving out the door! Customers with FICO as low as 470 have to meet only a few parameters to be approved with our Subprime Lender. When a "clean package" is submitted it will be funded within 48 hours (depending on when your bank gives you credit for the transaction).
Our staff was certified and trained with this lender and we're confident it can make a difference in your business. Local dealers are already jumping all over this opportunity stating that they've turned away many customers in the past year that they could have gotten financed with this lender!
Get your finance department signed up so you're ready to go. See the rate sheet below and contact Jennifer Otto at 800-248-4258 x101 or using the Contact Us form for all the details on this up and coming lender!
Franchise Dealers
All guidelines subject to approval with flexible structure based on credit worthiness and tier
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FICO Range
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400 - 680 (0 scores considered) |
| Minimum Income |
$2,000 verifiable income
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| Max PTI |
Up to 20% |
| Dealer Flat |
2-5% of front end - Paid on every deal (Not subject to charge back) |
Rates
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7.95% (as low as)
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| Down Payment |
$0 (as low as) |
Acquisition Fee
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$0 (as low as) |
| Max all-in LTV |
130% |
| Line 3 Advance |
125%* |
| Max Term |
72 months (subject to mileage)
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Contract Fee
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$175
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| Max Vehicle Age |
Up to 12 years old |
| Max Mileage |
150,000 |
| Max Loan Size |
$45,000 |
| Min Loan Size |
$7,000 |
| Max GAP |
$1000** (Subject to state regulations & limits). LTV > 90%
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Max Service Contract
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$2,500
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Back End Warranty and GAP Offered on Every Deal
Warranty: $2,500 & GAP: $900
NADA Clean Trade
NADA: utilized in all states except as listed below for KBB
Kelly Blue Book Wholesale
KBB: AZ, CA, CO, ID, NV, OR, UT, WA, WY
**Subject to federal and state regulations
Approvals are good for 30 days from original application date
Titles – No Salvage, No Frame or Unibody Damage per AutoCheck, no Buybacks (Lemon Law), No Weather Damaged Vehicles
Ineligible Vehicles – Electric Vehicles, Grey Market, Modified or Commercial Vehicles, Discontinued Vehicles, Smart Cars, Cars for Hire: Taxis, Limos, Uber, Lyft
© 2013 GALT ENTERPRISES, INC. ALL RIGHTS RESERVED
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