Which lender for poor credit?

[Daylight 28]

Morning all,

I've had a run of sub-prime customers lately who Close nor Jigsaw will touch. I managed to get one propped with First Response but one (the better looking deal to me) got declined. Who do you guys use when the usual sub-prime companies fail?

[umesh 336]

Bin it and move on !! Some people YOU Simply cannot help.

[Daylight 28]

Thanks Umesh, now approved so worth keeping at it 

[Rory RSC 596]

I would recommend evolution funding as a broker. Good for the sub prime stuff and also some oddball stuff or rate sensitive stuff. Worth having up your sleeve.

[Trident 24]

'The Car Finance Company' for Super Sub prime, last stop for customers as they fit a black box system, customer makes payment, receives a code to enter into a keypad to drive the car till next payment and so it rolls on, have put a few through there and those customers are always desperate and grateful to manage to get out of a situation and get a car.  Step up from that is either Pinnacle finance or as Rory said Evolution.  Some people have no chance but a little explanation on how credit works goes a long way and repeat business is key with these guys! one in today after an upgrade!

[Mat C 77]

On 04/11/2016 at 7:58 PM, Rory RSC said:

I would recommend evolution funding as a broker. Good for the sub prime stuff and also some oddball stuff or rate sensitive stuff. Worth having up your sleeve.

I will echo this

Super fast set up, easy paltform to prop and quote and best of all, i've had 3 'dead' finance deals turn into deals - so they've already proved their worth. Not the most commissions however when they are lending rate for risk i don't really gripe!

Top rep to deal with too. Win Win

 

[sparky 274]

5 hours ago, Trident said:

'The Car Finance Company' for Super Sub prime, last stop for customers as they fit a black box system, customer makes payment, receives a code to enter into a keypad to drive the car till next payment and so it rolls on, have put a few through there and those customers are always desperate and grateful to manage to get out of a situation and get a car.  Step up from that is either Pinnacle finance or as Rory said Evolution.  Some people have no chance but a little explanation on how credit works goes a long way and repeat business is key with these guys! one in today after an upgrade!

I've done a couple of deals with them and almost cried when I look at the repayments. I wonder how many customers stay the full term with them?

No doubt it's big business though and I've just started to notice a few dealers are actually using their own money and stock to sell cars this way. £35 a week for 3 years for a car that owes you around 1500 quid. As the folk at Dacia say, you do the maths.

[betginge 73]

 

5 minutes ago, sparky said:

I've done a couple of deals with them and almost cried when I look at the repayments. I wonder how many customers stay the full term with them?

No doubt it's big business though and I've just started to notice a few dealers are actually using their own money and stock to sell cars this way. £35 a week for 3 years for a car that owes you around 1500 quid. As the folk at Dacia say, you do the maths.

Some subprime lenders will not finance Dacia's lol.  I am going into this market in the new year with application for FCA going in tomorrow. 

I have worked with firms who uses Car Finance Company, there also was Credit 4 Cars bt they went belly up about 12 months ago. TCFC  are great for getting deals done that would otherwise be lost. 

 

On 11/4/2016 at 7:58 PM, Rory RSC said:

I would recommend evolution funding as a broker. Good for the sub prime stuff and also some oddball stuff or rate sensitive stuff. Worth having up your sleeve.

Rory, who do Evolution Use for sub prime placing,  assume there just a broker, would it not be worth dealing with their lenders direct, or have they got some special deal with a lender that us mortal cant get access to 

 

[Mat C 77]

16 hours ago, betginge said:

 

Rory, who do Evolution Use for sub prime placing,  assume there just a broker, would it not be worth dealing with their lenders direct, or have they got some special deal with a lender that us mortal cant get access to 

 

The use their own funds I believe for Rate for Risk anyway? 

[TM LTD 0]

we used euro drive finance they are a broker but offered better commission than some of the lenders, worth speaking with them for sub prime.

[DPF 18]

On 09/11/2016 at 6:01 PM, sparky said:

I've done a couple of deals with them and almost cried when I look at the repayments. I wonder how many customers stay the full term with them?

No doubt it's big business though and I've just started to notice a few dealers are actually using their own money and stock to sell cars this way. £35 a week for 3 years for a car that owes you around 1500 quid. As the folk at Dacia say, you do the maths.

Crazy price £5040+ for £1500 Car. 

[EPV 631]

6 hours ago, MotorNet said:

There are a number of lenders you can try for poor credit,.

If you are looking for a brand new car try "REMOVED CONTENT"  They can help with new car finance for poor credit. Think they can check several lenders without you applying with them all.
 

You are digging up 2 year old threads. If you are genuine and who you say you are then you’re doing yourself no favours. You look like you’re spamming to me 

[It's me 612]

7 minutes ago, EPV said:

You are digging up 2 year old threads. If you are genuine and who you say you are then you’re doing yourself no favours. You look like you’re spamming to 

my thoughts 2 

[MotorNet 0]

this forum is new to me, and whilst i see your point, i just went through things relevant to me , ive run forums before and thats generally what happens when people get excited about something new

2 minutes ago, boring dave said:

my thoughts 2 

maybe read all my posts then pass judgement , instead of looking at one

[BHM 994]

Has Davis Brent invaded this forum? 

I’m always suspicious of anyone who storms into a situation, telling every fucker how to run the job, full of big talk and then serves up a big fat slice of Spam.

Sorry, but fancy websites don’t impress me - I’m too old to be bullshitted.

***David Brent*** even!