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Gateway One Lending & Finance Just Closed - Help, I Need A Replacement Bank!

Discussion in 'CRM, ILM, and Desking Support & Best Practices' started by bringles, Nov 29, 2017.

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  1. bringles

    bringles
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    Erik
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    I searched the forum and didn't see anyone talking about this yet, so if you don't know Gatway One Lending & Finance just shut down on Monday.

    My manager was submitting a deal on Dealertrack yesterday and noticed they had disappeared in the portal. He called our rep and was told that they got bought out and the new owners shut it down.

    We specialize in cars under $10k and Gateway was our best lender by far and a good resource for customers with 580+ fico and cars up to 15 years old and 150k miles.

    We are a small used car dealership located in California doing about 17 units a month. Can anyone make a recommendation for a similar lender?

    Thank You, Erik
     
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  3. J.R. Libby

    J.R. Libby
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    I hate to hear that Erik I can understand what you guys are going through. Gateway one was one of our strongest lenders on dealertrack. I think Wells Fargo maybe a good idea not sure if there on dealer track. I am setup with vantage finance which similar to dealer track except you have a middle man which is vantage but the fees are small. You submitt your deal just like you would on dealer track get a fast response. They have a lot of banks like wells, credit unions that do nation wide and sub prime lenders etc. t I am curious my self what other prime lenders are out there that are setup with dealertrack. I would definitely jump on vantage for the time being if you don’t already have them. Just got a 580 approved through them today. Good luck Erik
     

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