Special Non-Prime Lender Directory:
Where's the Money?
By Nick Zulovich Automotive Group Editor
CARY, N.C., and PHOENIX — The tough capital markets and economy have led many lenders to tighten underwriting requirements and pull back from the lower credit tiers. This has left many dealers throughout the country struggling to find indirect auto lenders willing to serve their special finance customers.
However, the lenders are still out there. It may just be a bit more difficult to find them and strike up a relationship.
To bring dealers and lenders together to thrive in these difficult times, SubPrime Auto Finance News teamed up with www.OnlineBKmanager.com, which maintains an internal lender directory to supplement its Guaranteed Marketing programs, to develop a list of indirect auto lenders that continue to serve the non-prime and subprime credit tiers.
"Every week I'm getting calls from dealers looking to develop relationships with non-prime lenders. As many of the national companies have retrenched to certain degrees, this has opened the door for those still funding to fill the gap," explained Jennifer Reed, Automotive Group Editor of SubPrime Auto Finance News and Auto Remarketing.
"The lender response to this special edition has been very positive. We've heard from almost 100 institutions. We're happy to bring this directory to the dealer community to help get their special finance customers in vehicles," Reed added.
Robert Davies, president of Direct Marketing Associaties/www.OnlineBKmanager.com, added, "Because we guarantee the results of our products, we say on top of the 'Who's Who' in the lending markets. The industry has needed a centralized directory for some time now and with the indirect lenders tightening of late, I cannot think of a better tool for today's subprime finance professional."
Non-prime lenders who want to discover how to get listed online are invited to e-mail Amanda Dunlap at email@example.com. The online listing will be updated regularly.