Subprime (Special Finance) Structures, Presentations & Disclosures Course

Course Description

  • Advanced lender guideline training including lending terms and definitions, how to choose the best lender for a customer situation based on vehicle, credit application, credit bureau, available down payment, and contract term.
  • The reverse sales process and why vehicle selection and deal structure is important to increase closing ratios.
  • Maximize profits and ensure all customers leave happy.
  • The importance of obtaining pay stubs, bank statements or tax returns if applicable, proof of residence and insurance prior to final delivery.
  • Interpreting paystubs and other stipulations the same way subprime lenders do and how subprime lenders interpret various negative credit issues and interpret credit bureaus (advanced credit bureau interpretation training).
  • The value and importance of providing superior customer service to special finance customers and how to obtain referrals to family and friends in similar circumstances as a result.
  • Suggested subprime lenders in various categories are provided here along with suggestions for obtaining inventory that will maximize subprime profits.

Course Benefits & Learning Objectives

Increase understanding of how to capture more of the local market share (including customers with less than perfect credit).

 

This course provides detailed loan underwriting training, including training for structuring special finance loans. Special Finance training includes a “blue print” for setting up a special finance department, including marketing plans, inventory suggestions, and sales processes.  Best practices are also provided to help maximize closing ratios and cash flow with sub-prime opportunities, while achieving a fully documented, 100% CSI rating.

Special Finance and Advanced Loan Underwriting will help green peas and veterans sell more cars and make more deals!

“Special Financing I rate excellent. This course allowed me to understand specifically what subprime lending guidelines are, how to interpret the credit bureaus and how to view the app from the subprime lenders standpoint. Also, having a clearer understanding on each will help to sell the lender. Will this assist in the effort of selling more cars? Yes! Excellent! Good information all around. The setup of the course was easy to follow and I would recommend this to any person with 2 days into the business or 20 years in.”

Jonathan Kaaihue, Finance Manager

General Managers recommend all desk and F&I managers attend this course to increase lender approvals!

“I am the GM. I think this was an excellent course and all desk and F&I Manager’s should be required to watch and learn it. Again, by having a great understanding of special F&I and knowing the bank programs you can structure a deal that will be very hard to TD. You have to know your programs and what bank you are designing the deal to go to up front.”

Allan Jose, General Manager

Salespeople will increase their closing ratios, improve their gross profits per sale, improve their CSI scores, and have happier customers with this training.

“This is a very excellent course, and I know that I will benefit from it, much more so, for my dealership. I have already achieved improved closing ratio, improved gross, improved CSI, and happy customers.”

Willford Solancho, Professional Salesperson

Subprime Financing

Student Ratings

100%

Special Finance Sales and Loan Underwriting - As of June 30, 2017, 100% of students have rated this course positively and 98% would recommend this course to others.

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