How to finance

How to finance

Postby Ecin » Mon Jul 31, 2006 8:37 pm

I'm buying a used car dealership. The dealership currently finances on it's own. So it doesn't finance through lenders. What I want to know is what do I have to do to finance through other lenders and make money from either raising interest rates a bit or referral fee. Like what system do I need to check the customer's credit and what system I need to send the credit info to different lenders just checking the client's credit only ONCE. I need this so I can sell cars worth over 15k since all they currently sell is cars worth 5-8k. I'm not sure if the dealership makes money referring insurance, but I'm also interested in that.
Ecin
 

How to finance

Postby pjdevereaux2003 » Wed Aug 02, 2006 12:12 pm

Check out www.bhphinfo.com for information on credit systems. Are you planning to sell $15K cars in addition to the $5-$8K cars, or are you going to drop the $5K ones?
pjdevereaux2003
 

How to finance

Postby Ecin » Fri Aug 04, 2006 11:31 am

I'm planning to sell both. Mostly the cheaper ones. The $15K cars are mostly for attention. I don't think it's eye candy having cheaper cars on a car lot. But that's the market. Even though some (few) people want better.
Ecin
 


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