One out of three used car buyers require special financing solutions
Alpharetta, GA: For used car dealers and their customers, flexible financing options are imperative for putting more drivers on the road, with an increasing percentage of open auto loans now held by consumers with subprime and deep subprime credit ratings.
“It’s estimated that 35% of today’s customers shopping for a used car require subprime financing,” said Steve Smith, VP of Customer Service at Dealer Funding. Credit scores of 500 to 600 are considered subprime and those with scores from 300 to 500 are considered deep subprime. “It’s nice to know the dealers we work with can help them. We value our customers and it matters to us that they are able to enjoy their own vehicle.”
As a growing force in the industry, Dealer Funding is poised to bring better financing solutions to the crowded used car market. New CEO Cheryl Miller is committed to building lasting partnerships with a stronger dealer base. “Our focus is on bringing our customers an adaptable program, innovative technology, and honest communication,” Miller said. “Everything we do is in support of that effort.”
Spearheading their new marketing campaign is Dealer Funding’s recently launched website, which, when partnered with mainstay dealer portals Dealertrack and RouteOne, will provide an optimized user experience for dealers and customers.
Aiming to bring even more dealershiships into the Dealer Funding family, 2016 is on pace to be the busiest year in the company’s history. The challenge is one they relish, exemplified by their new tagline – Driven Toward What Matters. “Happy customers and happy dealers – that’s what matters to us.” Miller said.
About Dealer Funding: Founded in 1995 and headquartered in Alpharetta, GA, Dealer Funding specializes in financing to consumers through partnerships with independent and franchise dealers. Throughout our 20+ years in business, we’ve built a robust sub-prime lending program that allows our dealers to offer financing solutions to their customers.