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Traditional Car Lots VS Buy Here/ Pay Here

January 3, 2012

4 Comments

Shaun

Let’s explore some alternative financing for buying and selling used cars. What is a Buy Here Pay Here used car lot? Buy here pay here dealers typically make financing available to their customers via in house funds.  Arrangments are made through the dealer and payments are made directly to the dealership or through a servicing company.  As opposed to making regularly scheduled payments to a bank or loan company, you’ll make weekly or bi-weekly payments to the dealer.  Usually these dealership only accept cash or check, knowing that the reason the customer is using this type of dealership is due…

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Dealers Look to Capitalize on a Shrinking Economy

December 21, 2011

4 Comments

Shaun

An surge is expected in 2012 for bankruptcies for both personal and business filings. Tightening credit, ballooning car and house payments are both leading to an expanding bubble that will pop sooner than later for many South Florida residents.  While foreclosures start to trickle through the banking pipeline, a new wave is expected to grow in the near future. Small auto car lots known as Buy Here Pay Here dealers are looking to capitalize on this growth by selling off their note portfolios to bigger investors.  This process is know as auto bulk sales or auto note sales. Dealerships would…

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How to Sell Auto Notes

December 9, 2011

4 Comments

Shaun

If you’re interested in learning how to sell auto notes, we’ve made a qucik reference for you so that you know exactly how the process works and to make it as easy as possible.  This will also enable an expedited sale and get you the cash that you’re looking for, as fast as possible. The lender will almost always require the following basic info: Account number, borrower name, contract open date, original amount financed, apr, original contract term, number of payments made/ payments remaining, payment amount, current principal balance, payment frequency, down payment, vehicle year, make, model , vin #…

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