Private investors are lending money to car dealers today (since the majority of the banks have backed out in today’s markets). It’s amazing how many investors want to do the funding
We are running this in IL. Soon we'll expand to other states.
Here’s how it works:
Small dealers (under $1 Million in sales) set up rent to own and other programs (we do that for them) The investors lend the dealer on a JV basis up to 100% per every sold vehicles.
We take care of the finance and other administrative procedures (including tracking, payments, etc.) We charge $125 per every vehicle we help selling.
Now - small dealers can advertise that they have “financing available to customers with bad credit”, sell cars to customers with bad credit and don’t have to be a financing company, since we do all that for them.
If any dealers experienced something similar – I would like to get their feedback. Also, I would like to hear any suggestions and concerns.