Dealer Financing
In today’s climate, access to financing to complete deals is crucial to making your special finance system work. That’s why we provide financing to dealers through our lending arm, Interactive Financial Acceptance (IFA). Through its network of dealers and lenders, IFA has vast knowledge and understanding of the situational lending necessary to help you get deals done. IFA is integrated into RouteOne, making it easy for dealers to submit applications and get quick feedback.
IFA’s offerings include:
- Up to 2 points reserve participation (paid at time of funding with no charge-backs).
- A low $299 processing fee with NO discounting ever.
- Consideration of all credit scores.
- Advances up to 100% of NADA clean-trade (or invoice less rebate) plus Service Contract and GAP.
- Self-employed, 1099 and cash paid employees considered.
- Minimum income of $1,000
IFA can intelligently mitigate risks because of its vast knowledge in the field of situational lending. Sometimes stability in employment and residence is more predictive of a successful loan payoff than some sort of recent credit trouble. Now to be clear, these are not free-pass loans; IFA insists upon verifiable income, even for the self-employed; all bankruptcies must be discharges and applicants cannot have had a vehicle repossession within the last 12 months.
IFA can assess the risks and still present workable deals to dealers, offering terms of 24 to 72 months with only a $299 processing fee (there is no discount). The applicant’s down payment can be in cash or trade, and IFA accepts collateral up to seven years old and 80,000 miles or less.
