Sell more cars, make more money
Many car buyers with bad credit or no credit have difficulty getting approved for auto financing. Credit Acceptance offers indirect subprime auto finance programs that give dealers the ability to say 'Yes' to every customer regardless of credit history.
Auto finance programs
Credit Acceptance offers two subprime auto finance programs–Portfolio and Purchase–for independent, BHPH and franchise car dealers. Both programs benefit dealers with:
- Competitive advances on new and used vehicles
- Same-day funding with eContracting
- 100% non-recourse with no look-to-book
- Easy-to-use inventory integration
- Flexible F&I compensation
- Easy integrations: Dealertrack®, RouteOne®, AutoClick, ProMax...and more
Dealers on the Credit Acceptance's Portfolio Program have an opportunity to get paid three ways:
- ADVANCE - You receive money up front, which typically allows you to cover your cost of the vehicle and provides for a modest upfront profit for each contract.
- PORTFOLIO PROFIT EXPRESS (PPE) - When you cap a pool* (50 or 100 contracts), you are eligible to receive a PPE payment, which is a percentage of the expected future collections on all contracts in the capped pool.
- PORTFOLIO PROFIT - When the total Advance balance in the pool is repaid, 80% of net collections on all contracts in the capped pool is sent to you through monthly Portfolio Profit payments.
*Each pool represents a subset of your total portfolio of contracts and serves as a mechanism to help accelerate expected Portfolio Profit, and to give you the opportunity to receive an advance on that future profit in the form of a Portfolio Profit Express Payment.
The Purchase Program provides a higher upfront advance than the Portfolio Program. Dealers may opt to use this program when a higher advance is desired at time of funding, or in environments with more traditional pay plans. Fill out our form to connect with a Market Area Manager in your area and learn about program availability.