What Is Automobile Note Financing?

           An automobile note is a promissory note secured by an automobile. Typically,
           multiple automobile notes are packaged together and sold as a portfolio.

              How Are Automobile Notes Created?

           When individuals purchase new or used vehicles and they require financing, they qualify based on
           their credit worthiness. Individuals that do not fall into the “best” credit tier (as a result of slow pay,
           no pay, bankruptcy, etc.) are called sub-prime customers who must obtain financing through dealers,
           private investors, or specialized financing companies. Most often a higher rate than prime customers
           pay is charged.

              Who Can Benefit from the Financing of Automobile Notes?

           The dealer that sells cars on the basis of dealer financing typically does not want to wait three to
           five years to get paid. They will need the money in a lump-sum to purchase additional inventory, pay
           salaries, taxes, expenses, etc.

           Do you sell cars? Do you have a portfolio of auto notes that you need to sell? Contact us for
           further information.

              What are the Portfolio Requirements?

                    • Portfolios should be minimum $50,000.00.

                                        • They should be Performing Auto Contracts

                     • Seasoned Auto Contracts (at least three months payments collected)

              What Information or documentation is needed?                                        

                           • To receive a quote

               Portfolio Spreadsheet of Contract Data is required.

                          • Once a purchase offer has been accepted

                     Copies of: 

                              A)     Credit Application
B)     Buy Order
C)     Title
                              D)     Contract
Payment History Record
F)     Dealer application
Fee Agreement


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