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Auto Financing Programs - Your Experience

Discussion in 'Off Topic & Everything Else' started by Brynn Hecht, Aug 11, 2018.

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  1. Brynn Hecht

    Brynn Hecht
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    Noob

    First Name:
    Brynn
    Dealer or Company Name:
    Henderson New and Used Cars
    Joined:
    Aug 11, 2018
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    Hi,

    I work for a small dealership that isn't specific to any brand of vehicle and we sell new and used. I guess you could say we are generic. I work in the finance department and my boss has instructed me to do some research on different dealer financing networks and programs that are offered to dealerships. Currently, we use Ally's auto financing and haven't been disappointed but we are wondering if there is something better out there? Can some people share what they have used and maybe what they like about their current programs versus maybe other programs they have used in the past. Any help would be appreciated. Thanks community!

    Brynn
     
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  3. Brynn Hecht

    Brynn Hecht
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    Noob

    First Name:
    Brynn
    Dealer or Company Name:
    Henderson New and Used Cars
    Joined:
    Aug 11, 2018
    Messages:
    2
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    Any thoughts here? I'm doing some shopping and see that some other auto loan financing programs are competitive with Ally's financing program. If anyone has experience with these other programs, please let me know. I'm all about saving my clients money on their auto loans while still making a little extra for the dealership with the financing. Thanks,
     
  4. Tallcool1

    Tallcool1
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    Jr. Refresher

    First Name:
    Clint
    Dealer or Company Name:
    Clock Tower Auto Mall
    Joined:
    Mar 17, 2014
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    Location:
    Columbus, Nebraska
    Log into Dealer Track or RouteOne, and look at their list of participating lenders. See which ones work within your state. At that point, you just have to get on the phone and start asking questions.

    The problem with asking others is that every dealership is different, and every lender looks at every dealership different. For example, are you an Independent dealership or do you have a franchise? Lots of lenders won't work with Independents.

    One dealer will do great with a given lender, and others won't do worth a darn. Case in point, Ally. Ally dropped me for lack of volume, and I didn't care one way or another.
     
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