Hello Everyone,
My name is Irina. I opened a used car dealership about 4 years ago in SoCal.
We try to specialize in modified cars. We also have regular cars in stock (no salvage). About 20 - 25 cars on the lot.
Business is doing great but we've always struggled when customers wanted to finance with us.
We have small amount of lenders that we signed up with (Westlake (so bad), Tustin Community Bank, Signal auto etc)
We've been trying to get into CUDL but they require above $3 million is gross sales a year. We are not quite there yet.
A lot of local credit unions are working with dealers like us only through CUDL.
A lot of lenders have unacceptable high APR and terms are bad for us and for prime customers.
I can't turn customers away anymore and tell them go get finance with your credit union first and then come back and buy the car from us.
It's very inconvenient and unprofessional.
Does anyone have any kind of source or platform or maybe smaller credit unions in SoCal (Los Angeles area) that can work with us? through route one for example?
Or anything similar like CUDL?
We really need more finance sources for Prime deals.
Thank you in advance.
