who funds new or used Car dealerships 1st pos and on?
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  1. #1
    Senior Member Reputation points: 122949 BR-Nightmare's Avatar
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    Question who funds new or used Car dealerships 1st pos and on?

    Helping to keep the streak alive.
    The Brokers Nightmare
    I don't want peace, I want problems, ALWAYS!
    Florida-Based

  2. #2
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    Novo will fund this, and if it's B paper they will go out UP TO 45 days.

  3. #3
    And if they need additional funding the guys at Tip Top Capital will provide not 1 not 2 but 7 additional positions.

  4. #4
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    As a funder it is hard giving out bigger dollar amounts over longer terms because of all the funders that are taking such a higher gross behind other positions at very short terms with high rates and funding fees. This puts the first position deal in more jeopardy of getting defaulted on with less cost and more to lose.

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    AutoTrader foreclosed on their HQ. OffLease is liquidating. Defaults on consumer auto loans are at an all-time high. Do you like catching knives????
    Kevin Henry
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    Seacoast Business Funding, a division of Seacoast Bank
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  6. #6
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    Quote Originally Posted by closer129 View Post
    As a funder it is hard giving out bigger dollar amounts over longer terms because of all the funders that are taking such a higher gross behind other positions at very short terms with high rates and funding fees. This puts the first position deal in more jeopardy of getting defaulted on with less cost and more to lose.
    Aaaahhhh yes. 1st positions can get stacked and when that happens the risk of the 1st position holder increases and the risk continues to increase with every additional position. Thank you for your insight and contribution.

  7. #7
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    Quote Originally Posted by MichaelP View Post
    Aaaahhhh yes. 1st positions can get stacked and when that happens the risk of the 1st position holder increases and the risk continues to increase with every additional position. Thank you for your insight and contribution.
    Since these are typed messages you cannot tell if that was supposed to be sarcastic or not. I been in this industry for over 10 years and all these funders and brokers that came in and lying and over charging the merchants and lying to get deals done is what is destroying it on many levels.

  8. #8
    Senior Member Reputation points: 122949 BR-Nightmare's Avatar
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    Quote Originally Posted by RyanWi View Post
    And if they need additional funding the guys at Tip Top Capital will provide not 1 not 2 but 7 additional positions.
    But if we give it to PeachTree, he will say he's the funder, and then come and cry about it when he gets caught lying.
    The Brokers Nightmare
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  9. #9
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    Quote Originally Posted by closer129 View Post
    Since these are typed messages you cannot tell if that was supposed to be sarcastic or not. I been in this industry for over 10 years and all these funders and brokers that came in and lying and over charging the merchants and lying to get deals done is what is destroying it on many levels.
    You can tell.

  10. #10
    Senior Member Reputation points: 72398 Olderguy's Avatar
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    Quote Originally Posted by Hedley Lamarr View Post
    AutoTrader foreclosed on their HQ. OffLease is liquidating. Defaults on consumer auto loans are at an all-time high. Do you like catching knives????
    Britney Spears does...
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