Results 1 to 25 of 25
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08-10-2016, 02:11 PM #1
- Join Date
- Jan 2014
- Posts
- 283
Auto Sales
I have been getting a lot of submissions for Auto Sales lately; it is a good industry because they always need capital for extra inventory...we have been funding a decent amount but are very limited in terms of how much we can offer/terms (6 months-7 months).
Besides Everest and Vital who can fund Auto Sales? More on the A-B paper side and can offer terms as long as 10-12 months at a reasonable factor. I'm not expecting 15-24 month terms and 1.15 for that industry but someone who can fund $150,000+ for a 12 month term would be great.
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08-10-2016, 02:32 PM #2
- Join Date
- Oct 2014
- Posts
- 257
Auto Sales
Swift can
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08-10-2016, 02:39 PM #3
Foxii, kings cash, lg funding.....
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08-10-2016, 02:55 PM #4
- Join Date
- Mar 2016
- Posts
- 657
Pearl funds Auto Sales
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08-10-2016, 03:01 PM #5
- Join Date
- Jun 2016
- Location
- Tampa, FL
- Posts
- 180
Auto Sales
Credibly as well
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08-10-2016, 03:07 PM #6
- Join Date
- Mar 2016
- Posts
- 908
CFG Merchant Solutions Funds Auto Sales. Give us a Shout if you want to chatt about any submissions.
Thank You,
Lior Monus
CFG Merchant Solutions
Lmonus@cfgms.com
Direct: 516-319-5826
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08-10-2016, 03:10 PM #7
- Join Date
- Jun 2013
- Posts
- 293
Amazing. 6 month ago if you mentioned Auto Sales you got crickets.
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08-10-2016, 03:19 PM #8
- Join Date
- Jan 2014
- Posts
- 283
You're right-progress!
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08-10-2016, 03:21 PM #9
- Join Date
- Jan 2014
- Posts
- 283
Will Swift do it for Broker shops though?
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08-10-2016, 03:31 PM #10
- Join Date
- Oct 2014
- Posts
- 260
Credibly does not fund Auto Sales
Second place? Set of steak knives.
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08-10-2016, 04:25 PM #11
- Join Date
- Apr 2013
- Location
- NY
- Posts
- 203
Credibly stopped doing auto sales, and swift only does them for their internal sales not for ISOs
Right now its just the high risk funders that will do auto sales
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08-10-2016, 04:46 PM #12
These are tough, working with a few right now, the business has a poor reputation, additionally, now and days its even more difficult to find an experienced underwriter who will thoroughly underwrite without the stigma of reputation. Some of these submissions are quality submissions, however, finding the right underwriting staff to evaluate is the challenge. Kings Cash would be one to give a shot too, they like 100k+ auto.
You sharpen the human appetite to the point where it can split atoms with it's desire..
You build ego's the size of cathedrals..
Fiber-Optically connect the world to every eager impulse..
Grease even the dullest dreams with these dollar-green, gold-plated fantasies..
Until every human being becomes an aspiring emperor..
Becomes his own God
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08-10-2016, 04:47 PM #13
Wall funding can do them, going as low as 1.37 rate paying 9 points.
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08-10-2016, 05:14 PM #14
Wall is good too, competitive factor, easy funding, however your looking at 100-120 payments depending on the factors of course.
If you find someone that goes 8 months plus, let alone 10-12 please let me know.You sharpen the human appetite to the point where it can split atoms with it's desire..
You build ego's the size of cathedrals..
Fiber-Optically connect the world to every eager impulse..
Grease even the dullest dreams with these dollar-green, gold-plated fantasies..
Until every human being becomes an aspiring emperor..
Becomes his own God
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08-10-2016, 06:23 PM #15
- Join Date
- Jun 2016
- Location
- Tampa, FL
- Posts
- 180
Auto Sales
I stand corrected. When did Credibly stop doing auto sales?
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08-10-2016, 08:19 PM #16
- Join Date
- May 2015
- Location
- NYC
- Posts
- 197
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08-11-2016, 09:51 AM #17
- Join Date
- May 2015
- Posts
- 33
Sandstone is funding car dealerships with competitive buy rates in the 1.22-1.30. For this industry we are typically in the 4-6 month term and if it is based in California needs to be very clean.
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08-11-2016, 11:26 AM #18
- Join Date
- May 2016
- Posts
- 148
Sandstone and Everest are the most competitive in auto sales these days. There is a wide gap currently in Used Auto Sales, its either high risk funders, or you can try the SBA but funding can't be their primary floor plan and obviously other qualifications too.
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08-11-2016, 12:04 PM #19You sharpen the human appetite to the point where it can split atoms with it's desire..
You build ego's the size of cathedrals..
Fiber-Optically connect the world to every eager impulse..
Grease even the dullest dreams with these dollar-green, gold-plated fantasies..
Until every human being becomes an aspiring emperor..
Becomes his own God
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08-19-2016, 04:01 PM #20Kaitlyn Miller
ISO Coordinator
770-617-2377
KM@SuperiorCapitalfund.com
http://superiorcapitalfund.com/
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08-22-2016, 12:16 PM #21
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08-22-2016, 07:55 PM #22
Assuming we have real estate collateral, WBL can fund auto dealerships for up to 24 months.
Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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08-23-2016, 09:55 AM #23
- Join Date
- Oct 2014
- Posts
- 260
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08-23-2016, 11:46 AM #24
- Join Date
- May 2015
- Location
- FL
- Posts
- 96
too many funders threatened with lawsuits for violating their floorplan agreements.
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