Can anyone help me place loans secured on cars?

[Gregory_Thomson]

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Hi and thanks for looking. I hope someone may be able to help me.

I currently run a small company dealing with Mortgages, secured loans (on properties), general insurance etc.

A friend of mine runs a reasonably small car garage although has approached me as he currently does not have the facility to offer finance. Needless to say this is effecting sales for him at the moment. I am able to refer business over to a company who offer unsecured loans by doing a basic DIP online and they take the business over from there. My only concern is that the interest rates for this type of loan are pretty high.

Does anyone currently know of or offer loans secured on a car on a referral basis. Please get in touch if you do.

Kind Regards
Greg Thomson

[Cheshire-referrals]

Hi and thanks for looking. I hope someone may be able to help me.

I currently run a small company dealing with Mortgages, secured loans (on properties), general insurance etc.

A friend of mine runs a reasonably small car garage although has approached me as he currently does not have the facility to offer finance. Needless to say this is effecting sales for him at the moment. I am able to refer business over to a company who offer unsecured loans by doing a basic DIP online and they take the business over from there. My only concern is that the interest rates for this type of loan are pretty high.

Does anyone currently know of or offer loans secured on a car on a referral basis. Please get in touch if you do.

Kind Regards
Greg Thomson

Hi Greg

We used to be in the car finace game some years back,

There was three big player in the sup prime credit , park motor finance, Blue finance and bct

When the credit crunch started park motor and blue stopt lending.

there is only one company left in the sup prime lending which is british credit trust

You can set up account with them and they still pay high rates of commision, also there rates start from 4% - 29% depending on credit so they cover all the market.

They are very good at poor credit lending and you will make good referral money if you can supply the customers.

There is also close motor finace but they only pay £150 for customers and they have gone tight on lending.

Trust me use bct you will thank me

Good luck

Lee

[amit05]

Hi Greg,

Please Email me your all details charlesuk24@hotmail.com


Thanks

[Gregory_Thomson]

thanks Lee for the heads up. I have called BCT but they have stopped lending at the moment. They expect to be back up and running by april. Its a shame realy. I will give close motor finance a call in a min and £150 is not bad money. Im getting robbed with unsecured referrals at the moment being paid 1% of the loan amount. I nearly laughed.

[Gregory_Thomson]

I have also tried close motor finance however unfortunately they are not accepting any business from brokers only motor dealers directly. Anyone got anywhere else to try??

Thanks