Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature currently requires accessing the site using the built-in Safari browser.
Normal
The answer to your question changes monthly. You may find one fantastic lender, and then they decide their paper is too risky, so they start turning things down. They also go through management changes. DRIVRZ Financial was a great alternative to CUDL for used car leases, but they seem to have management problems. I still recommend looking at them, but be warned that they have not been easy to work with post-sale.Chase, Ally, and US Bank can be quite favorable to particular models of cars. The credit unions can be a bit more reliable on an annual basis. Many maintain a simple markup on prime and approve the same way all year. And there are LOTS of credit unions out there. Just because you're in SOCAL, doesn't mean there could be one in Vermont that would work well for your customers.Unfortunately, the banking industry looks like a wreck if they can't figure out how to rebalance their investments. It is probable that more will probably collapse or be forced into mergers/acquisitions later this year. This means we may see funding issues.Tighten your CIT by being more diligent with paperwork upfront. If you're not using a Dealertrack or RouteOne for approvals and quick funding, this would be a good time to look at those solutions.
The answer to your question changes monthly. You may find one fantastic lender, and then they decide their paper is too risky, so they start turning things down. They also go through management changes. DRIVRZ Financial was a great alternative to CUDL for used car leases, but they seem to have management problems. I still recommend looking at them, but be warned that they have not been easy to work with post-sale.
Chase, Ally, and US Bank can be quite favorable to particular models of cars. The credit unions can be a bit more reliable on an annual basis. Many maintain a simple markup on prime and approve the same way all year. And there are LOTS of credit unions out there. Just because you're in SOCAL, doesn't mean there could be one in Vermont that would work well for your customers.
Unfortunately, the banking industry looks like a wreck if they can't figure out how to rebalance their investments. It is probable that more will probably collapse or be forced into mergers/acquisitions later this year. This means we may see funding issues.
Tighten your CIT by being more diligent with paperwork upfront. If you're not using a Dealertrack or RouteOne for approvals and quick funding, this would be a good time to look at those solutions.
