Sub-Prime Financing
P. A Lending (Lending area: OH, IN, KY, and TN)
Dealers must be in business for 2 years minimum with 25+ inventory
|
FICO |
Nonprime to Subprime – Non-Recourse |
|
Interest Rates |
9.99% – 24.99% (Avg. is 11%-15%) |
|
Discount as low as |
$99 (Avg. is $299-$499) |
|
Reserve |
Up to 2%, 70/30 split |
|
Max Term |
75 months |
|
Max LTV |
155% All in based on Clean Trade |
|
Max Loan |
$35,000 |
|
Min Loan |
$5,000 |
|
Minimum Monthly Income |
$2,000 from one source, additional $1,000 for joint |
|
Max Backend4 |
– Minimum 36/36 full service agreement5 (max $2,500 or 4×4 -$3,000) |
Tiers, buy rate and fee will be based on credit quality. Decisions are not based on scoring.
(Average scores range from 530-620)
Each applicant is evaluated by their stability, ability and willingness to repay the loan.
|
Term |
Max Mileage |
Term Ext – $325 |
|
75 |
25,000 |
N/A |
|
72 |
50,000 |
75 |
|
60 |
75,000 |
66 |
|
48 |
100,000 |
54 |
|
36 |
125,000 |
42 |
All reserve is subject to chargeback in the event charge off /payoff occurs before three full payments are made.
LTV is based on NADA clean trade in value
New vehicles (untitled, max 5k miles): 105% LTV and used vehicles not in book (max 15k miles): 90% LTV (NOT discounted for rebate money!)
First time buyer must have minimum $2,500 per month
May not exceed max LTV or approved backend
Vehicles over 90k, min 24/24 powertrain (max $1,500 or 4×4 $2,000) – No commercial vehicles, trucks one ton or more, discontinued models, Mini Coopers, conversion vans, salvaged/ flood titles or vehicles over 10 years old
We also consider:
First Time Buyers
Customers with One Prior Repossession (no current year)
Open Ch7 Bankruptcy (After mtg.)
Open Ch13 Bankruptcy (Must be in plan 12mo.)
Self-Employed (Bank Statements / Tax Returns)
To enroll contact Alpha Omega Group, LLC at: (855) 264-4968 (AOG-4YOU)