[microboby]

As title Says , Who's funding this industry as A or B paper - Means normal rates and terms ( need 12 Months)?

NO YS , NO Pearl or anyone on 4 to 6 month term please

Thanks

[Zach]

WBL is funding Auto Dealerships up to 12 months with a weekly payment and buy rates as low as 1.19 (with collateral).

We also fund up to 3x their monthly deposits.

[Chambo]

The issue that comes up with WBL's program, is that they place liens on the vehicles used as collateral. Meaning, the dealer cannot sell those cars.

So someone walks onto their lot, says, "I want that car there, and I will pay cash today" cannot be serviced?

Unless the dealer has cars they are willing to sit on for 6-9 months....

[cappy]

Quickbridge will fund Auto Dealerships, will also stretch out to 12 months as well. Great pricing for 700+ credit.

[J.Celifarco]

Quickbridge will fund Auto Dealerships, will also stretch out to 12 months as well. Great pricing for 700+ credit.

not anymore.. they stopped funding auto dealerships end of last month.. It is now restricted

[Andy]

IOU will do used car dealerships, great rate and term if they qualify, I have seen them do 12 month 1.25s on used cars. We will do them too, but closer to ysc type pricing, if they have good credit and tib best we would do would be 8-9 monthes 1st position with a factor rate in the 1.40s

[GMFunding]

Retail Capital is back on board, Nextwave has been doing them.

[CpepeWBL]

The issue that comes up with WBL's program, is that they place liens on the vehicles used as collateral. Meaning, the dealer cannot sell those cars.

So someone walks onto their lot, says, "I want that car there, and I will pay cash today" cannot be serviced?

Unless the dealer has cars they are willing to sit on for 6-9 months....

Chambo hit it on the head, that is why when we fund car dealers, it is usually with real estate as collateral.

[Chambo]

Chambo Knows.jpg

[@jeannette]

Credibly will fund Auto Dealerships as long as they are depositing at least 40K per month.

[ridextreme]

We also fund up to 3x their monthly deposits.

that is because wbl collateralizes all of their vehicles, assets, propersty, wife, daugher and dog

[FUNd]

Chambo Knows.jpg

Dying.

[Chambo]

Dying.

The boys at Expansion bought me that Tee shirt....

[Zach]

that is because wbl collateralizes all of their vehicles, assets, propersty, wife, daugher and dog

Not remotely true. We collateralize whatever gives us enough net equity to fund, and file a UCC. Dogs are no longer considered viable collateral.

[ridextreme]

Not remotely true. We collateralize whatever gives us enough net equity to fund, and file a UCC. Dogs are no longer considered viable collateral.

I have some former employees of wbl and they told me about all the nightmares and loads of stips needed to get a deal funded. Vehicle titles, wife's PG's who are not owners that are required on all deals if married, property, dogs, cats, and birds.

There are plenty of funders that will fund without all of this for the same type of deals. (they are stips nightmares) lol

[CO1]

But yet Cows are- right?!

[malan@connect2cash.net]

We fund dealers .

Email me or text
Mark Alan
347-348-8020

[Zach]

I have some former employees of wbl and they told me about all the nightmares and loads of stips needed to get a deal funded. Vehicle titles, wife's PG's who are not owners that are required on all deals if married, property, dogs, cats, and birds.

There are plenty of funders that will fund without all of this for the same type of deals. (they are stips nightmares) lol

Obviously you would need the wife's PG if the owner is pledging a property that the wife also owns... and there really aren't many funders that will fund auto dealerships for 12 months with a 1.19 buy rate.

[nmanapat]

As title Says , Who's funding this industry as A or B paper - Means normal rates and terms ( need 12 Months)?

NO YS , NO Pearl or anyone on 4 to 6 month term please

Thanks

If the dealership is willing to pledge his assets maybe I can help, shoot me an email at nathaniel@instafundllc.com

[funding pro]

And out goes IOU. So that leaves Credibly, Everest, YSC. Who else?

[Vfunding]

It's interesting to consider that the level of default is so high among that SIC that even funding sources who charge 30-50 cents on the dollar can't tolerate the risk... I just had this discussion with my client - a dealership that is on their 4th renewal. Although she is upset that her industry has such a bad reputation/performance history among lenders, she said "If it was my money I wouldn't lend to a car dealership!".

[nmanapat]

As title Says , Who's funding this industry as A or B paper - Means normal rates and terms ( need 12 Months)?

NO YS , NO Pearl or anyone on 4 to 6 month term please

Thanks

If the deal is still available, give me a call, I have a partner who does this kind of deal. shoot me an email and talk at nathaniel@vanduraconsultant.com

[MaxAdvance]

We are funding Auto Dealerships on a case by case basis, I most likely won't get you 12 months but any others you come across that doesn't require 12 months to close, please feel free to contact me

[Chambo]

We are funding Auto Dealerships on a case by case basis, I most likely won't get you 12 months but any others you come across that doesn't require 12 months to close, please feel free to contact me

that's not what Michael told me. He said he stopped doing it

[nmanapat]

As title Says , Who's funding this industry as A or B paper - Means normal rates and terms ( need 12 Months)?

NO YS , NO Pearl or anyone on 4 to 6 month term please

Thanks

Shoot me an email and talk at nathaniel@vanduraconsultant.com, I work with a lender that does this type of funding.