Lenders


If you are getting into the subprime business, establishing connections with the right kinds of lenders is essential. To make lender relationships easier to navigate, we offer information about how to find, communicate and work with the best lenders both nationwide and in your specific area.


DealerTrack  Connects  700th  Financing  Source  to  Its  Industry-Leading  Network DealerTrack Connects 700th Financing Source to Its Industry-Leading Network

In their latest press release, DealerTrack announced a milestone in the number of active finance sources connected to their indirect finance network.

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Consumer  Portfolio  Services,  Inc.  Reports  2008  Second  Quarter  Earnings Consumer Portfolio Services, Inc. Reports 2008 Second Quarter Earnings

Consumer Portfolio Services, a lender in the automotive subprime sector, recently announced earnings for the second quarter of 2008, ending on June 30th. Of particular note to car dealers is the drop in dollar amount of contracts purchased, as well as an increase in the average credit scores of the contracts purchased.

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CPS  Announces  New  Financing  Activity CPS Announces New Financing Activity

According to a recent press release from Consumer Portfolio Services, the subprime car lender has obtained additional secured financing from a California-based investment firm that enabled the lender to pay down a portion of its revolving balance with Citigroup Financial Products. CPS also received an option to extend the maturity of its current debt.

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Nicholas  Financial  Expands  into  Tennessee Nicholas Financial Expands into Tennessee

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CPS  Announces  $10  Million  Financing CPS Announces $10 Million Financing

This past week, Consumers Portfolio was able to secure additional financing through an investment firm in exchange for 3 million shares of its common stock.

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Keeping  track  of  your  subprime  lender  changes Keeping track of your subprime lender changes

With many subprime lenders pulling out of indirect lending, new lenders have to be added to your subprime lender list. How are you, as a special finance manager, supposed to learn all these new lenders and keep track of all the new programs?

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Fitch  Reports  Pressures  on  U.S.  Auto  ABS  Performance  Mount Fitch Reports Pressures on U.S. Auto ABS Performance Mount

In a report containing mixed results, Fitch ratings finds that the subprime auto loan sector continues to be affected by the weak U.S. economy.

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car dealer on computer New Subprime Car Lender with some familiar faces - Sixth Gear Launches with $1 Billion

Sixth Gear Solutions Corp., an independent auto finance company for U.S. car dealerships, has been formed with over $250 million in equity commitments from a private equity consortium led by Warburg Pincus. The company also secured $750 million in long-term debt facilities.

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Triad  Financial  Ends  Indirect  Lending Triad Financial Ends Indirect Lending

As fallout from the subprime loan crises continues, the ripple effect claims another subprime car lender. Triad Financial Corporation announced last week that they would discontinue all indirect originations.

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AmeriCredit  Sells  $750  Million  in  Subprime  Auto  Bonds AmeriCredit Sells $750 Million in Subprime Auto Bonds

There was some good news this week from the subprime auto lender as reported by Sarah Mulholland from Bloomberg News. There was also good news regarding the captive finance companies of all three domestic manufacturers.

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Auburn Hills, MI 48326
Phone: 888-535-2277
Fax: 248-370-6601
Phone: 888-535-2277 - Fax: 248-370-6601

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