BLOG FOR SPECIAL FINANCE CAR DEALERS
Subprime Auto Sales 3.0.1
Starting March 8, 2010 we will begin testing a new concept in pre-approved subprime auto sales leads in the Metro Detroit area. Basically, the way the program works is that when consumers apply on our websites we will submit their application directly to lenders for an approval. (Read More…)
Comments (0)Subprime Used Car Inventory Mix
What is the minimum income required for a $380 dollar payment? We’ll cover these specific calculations is a later post, but based on a subprime auto lender that limits the Payment to Income ratio, PTI, to 20% the customer would have to earn at least $1,900 per month to qualify, and if the lender limits the PTI ratio to 15% the customer would have to make around $15 an hour, $2,500 a month, or $30,000 a year to qualify for a 380 dollar payment. (Read More…)
Comments (0)Long Term Success in Subprime Car Sales
Over the last year and a half we have heard allot of car dealers say that their sub prime sales are declining. Dealers are halting special finance advertising programs because they can no longer get tough deals bought, or they don’t have vehicles available to fit lender calls. In addition, big finance companies like Triad and Household have gotten out of the auto finance business while at the same time captive finance companies have tightened their belts. (Read More…)
Comments (0)Interest in Larger Cars Returning – AutoTrader
The latest Trend Engine Report from Auto Trader finds that interest in larger vehicles may be returning while prices for many low-mpg used models are still falling. (Read More…)
Comments (0)LotProOnline offers the best in Buy Here Pay Here software
The new release of LotProOnline enables independent dealers to maximize profits while keeping track of inventory from one or multiple locations.
Comments (0)New LotProOnline feature shows at-a-glance inventory status
New features included with LotProOnline enable special finance managers to instantly know of any booking problems with their inventory.
Comments (0)New key feature of LotProOnline prevents underbooking of vehicles and more
New features included with LotProOnline enable special finance managers to instantly know of any booking problems with their inventory.
Comments (0)Evaluating your used car inventory
For subprime managers everywhere, the used car inventory has always been an issue. Now, with changing market conditions, the subprime and prime used car inventories should be closer together.
Comments (0)Adjust your subprime inventory now
Now is a good time for special finance managers to look at their inventory mix and adjust it to fit new bad credit auto loan buying patterns…
Comments (0)It’s the first of the month. How long will it take you to re-book your inventory?
Many of us here at Auto Credit Express can remember the pain of having to manually re-book the used car inventory every month. Needless to say, it was not something to look forward to…
(Read More…)