Dealer Capital deals directly with lenders and other financial sources offering a variety of programs and cash flow options to best meet the needs of our clients. Here is a step by step breakdown of how we handle the typical auto bulk purchase transaction.
Upon identifying a dealer or finance company as a potential client for our services we will ask them a series of qualifying questions that will assist us in better meeting their wants and needs. This will also allow us to find the best programs available for prospective clients at both a local and national level. Our agents are highly trained in the specific programs and parameters for any and all buyers in the sub prime auto market.
Upon thoroughly qualifying our clients, we will then request an electronic data file from them containing all of the relevant data fields on their accounts receivable. This feature is available through most DMS (Dealer Management System) providers. Should this feature not be available, we have other means of obtaining that data to serve the same purpose,. However, this is the quickest and most preferred method.
We then submit the data file to the potential buyers who are the best fit for the client based on their wants and needs and the programs geographically available in that given market. We do much more than just submitting a portfolio to a potential buyer and simply hoping for the best. Our experienced team builds a strong case for our clients and helps negotiate on their behalf to achieve optimal results.
In most cases, depending on the program, we receive a LOI (Letter Of Intent) from our potential buyers within 24 to 48 hours. The LOI will clearly stipulate the rates and terms of the potential agreement between both parties. After the buyer receives the signed LOI, the next step varies depending on the buyers preferences, as some will schedule a trip to meet the client on site and others request an overnight file of the accounts for purchase (copies, originals at closing) and complete due diligence at their home offices. Lastly, a purchase agreement is completed and signed by all parties and the seller is funded. The buyer receives all original loan documents and the seller is paid via their preferred method, either check or electronic wire transfer. This process from the time of signing the LOI to funding is typically 5 to 10 business days, depending on customer verifications, when applicable.
Interested in more information on any of our programs and services? Complete our online information request form or call 817-657-4425.