Deal Pack Blog

Finance Companies: Incentives to offer dealers

posted on: January-13-2014
by: Scott Hackett
category: Features

If you are a finance company that wants to offer more incentives to dealers selling you loans, then this is for you. There are several different options available to you in Deal Pack, giving you flexibility when buying contracts.

 

  1. Dealer participation. Dealer participation is where you, the finance company, pay your dealer a bonus over the life of the loan for doing business with you. This gives your dealers an incentive to sell their loans to you, not someone else.
  2. Dealer share. This option is where the dealer is funded a percentage of the amount financed up front with the purchase of the loan. Also with this option, further payments are made to the dealer as customer’s payments are received. You can choose to share principal only or interest earned as well.
  3. Loan Servicing. Service accounts without adding them to your balance sheet. You can pay the dealer the bulk of the payments made, and keep the servicing fee.

 

Don’t get left behind in the sub-prime lending industry. It is best to know what options are out there for you and which ones will work for your company. You need the dealers just as much as they need you so make sure to stay desirable. The above mentioned options are not your only choices so it is best to do as much research as possible so that you choose the best opportunity for you. Please feel free to call in to our Support Team at 800-526-5832 if you have any questions on how these features will work.

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