- Hi there. I am new to the industry and looking to understand how financing is done, especially when I don't have a captive finance department. Sorry I have a few questions (eager to learn)
- Do you all use a specific software to help buyers secure financing?
- What relationship do you all use to help buyers get financing (brokers, go straight to banks, credit unions)?
- How are happy are you with current financing process? Do approvals take a long time/ inconsistent? Think more financers could lead to better rates and more deals?
- Do you care which financer you use (e.g., could be alternative financer, credit union, fintech) as long as they are a reliable company and can provide your buyers competitive rates?
- Thanks!
-
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Technology for financing and financing process... new to industry
- Thread starter mm_fleet4
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A new industry employee asks for guidance on financing processes for dealerships without captive finance departments, specifically inquiring about financing software, lender relationships (brokers vs. direct bank/credit union connections), and satisfaction with current approval timelines and rates. The thread appears to explore whether working with multiple lenders improves deal flow and pricing outcomes compared to limited financing options.
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