Why You Want to Sell Your Auto Loan Portfolio
Simply put, selling loans is the most effective way to build capital for your buy-here-pay-here dealership without adding on new debt to your business. Bulk selling auto loans also gives the dealer greater ability to expand their business by buying more inventory, financing more customers, acquiring new locations, and more.
When a dealer sells their loans, the finance company takes over collections. This frees up all the time dealership owners previously had to spend managing collections on their accounts. After selling loans, owners can focus on:
- Staying on top of all tax deadlines
- Buying inventory
- Reconditioning
- Training sales staff
and the 99 million other responsibilities in the balancing act of a today’s used car dealer.
Selling your loans also benefits your customers! It gives the customer the ability to build or re-establish their credit history. The customer data of the loans you sell are uploaded to the finance company’s system which reports all on-time payments to the major credit bureaus. This also gives the customer more of an incentive to be sure they make their car note payments on time.
In short, selling bulk auto notes offers considerable benefits like:
- Receive a large lump sum of money
- Have more free time
- Finance more customers
- Acquire new locations
- Help your customers build their credit
- Save on your in-house staff costs for collections.
- Eliminate the need to acquire more DEBT.
- Get your profits faster
At a time when it is becoming more and more difficult to secure credit facilities, selling your auto notes is definitely a viable source of raising capital. Don’t let your opportunity to make more money for your business pass you by! Let Auto Capital Express get you started!
For more info, email us at sales@autocapitalexpress.com or give us a call at 832-757-1409 today!
