Sub-Prime Financing

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)
– GAP, minimum 150% LTV coverage (state cap or max $850)
– Cancellable products (max $2,000)

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)

[ttfmp_post_list id=”postlist_43″ columns=”2″ type=”post” sortby=”date-desc” count=”6″ offset=”0″ taxonomy=”all” show_title=”1″ show_date=”1″ show_excerpt=”1″ excerpt_length=”default” show_author=”0″ show_categories=”0″ show_tags=”0″ show_comments=”0″ exclude_current=”0″ thumbnail=”top” aspect=”none” paginate=”0″ arrows=”1″ dots=”1″ autoplay=”1″ delay=”6000″ transition=”scrollHorz”]