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Loan Advice Available 24 hrs a day. 7 days a week.
Carlyle Finance, the UKs fastest growing independent Motor Finance Provider, launch their new loan advice web-site, branded as carloanadviser for the consumer and known as Virtual Business Manager to the Motor Dealer.
The website, which Carlyle has devised and developed in the UK (the company is part of a South African group), will offer car loan advice to the car buying public by demonstrating the various pros and cons of the various methods of funding a new car. This is done via innovative video and quotation technology.
Carlyle is already preparing to trial the use of finance booths in showrooms so that car buyers can consult the website themselves, in the showroom.
In its approach to dealers, Carlyle Finance stress the potential of benefiting a dealers profits by increasing finance sales and improving their levels of customer service and brand.
A Carlyle Finance spokesman said: “The VBM provides a dealership with online access to expertise in motor finance and car loan advice to help its customers arrange the finance deal they need to acquire their car.
“The dealer will be in control of the rates and terms and the online business manager will work to the parameters agreed with the local Carlyle Finance Account Manager.”
He said customers could manage their own proposal process online, either in the showroom or in their home. They keyed in information about their chosen car and followed prompts to identify their own ideal finance package.
Karl Werner, VBM project leader at Carlyle Finance, said: “For many dealerships there is a real role for a business manager, but many showrooms simply cannot justify the investment.
“Many customers browse online whenever they wish to find a car, he said. “Now they can sort out their finance with a dealer while discovering their car.”
Werner said VBM puts the customer in control so they can discover new financing options for themselves. All the dealership has to do is direct their customers to their website link. “We believe the benefits are significant,” he said. Customers can gain a huge amount of advice about what car to buy from numerous sources. However, the key challenge for many is gaining loan advice so to pay for their new car The carloanadviser website, or VBM as its known to the dealer, can illustrate the options to the customer any time and anywhere.
Sub-prime Auto Lenders – Best Option to Qualify For a Bad Credit Car Loan
Sub-prime lenders are often quoted to be the best option for those seeking to qualify for a bad credit car loan. Before highlighting the accuracy of this statement, it is important to understand just what it is that the concept of Sub-prime lending involves.
Sub-prime lending is recognized by a variety of other names as well. These include terms such as second chance lending, non prime lending and near prime lending. It was in the year 2007 during the phase of the designated “Credit Crunch” that the term and concept of Sub-prime lending actually emerged. Sub-prime lending is said to be a form of lending in which the most risk possibilities are taken on by the money lending institutions. It is said to be a form of lending wherein the prime ideals of the lending process are not realized and hence the entire process becomes a risk fraught one. Sub-prime lending is recognized as the chanciest of all consumer loans and involves loans that are typically associated with the secondary markets.
When talking about the ideal standards of lending not being met, one basically refers to a number of elements of money lending that are otherwise taken into consideration when extending a consumer loan to a client. These elements include factors such as those of credit rating of the borrower, the usual or unusual form of the loan, the size of the loan in question, the proportion of the loan in comparison to the collateral provided, the proportion of the debt of the borrower as opposed to his or her financial and other material assets, and so on and so forth.
It is often said that the credit reports of sub-prime borrowers portray elements that are usually deemed as undesirable in the lending business. These include factors such as a record of not paying back debts, a regular inability to make payments on time, a definite history of bankruptcy, and a generally extreme rate of defaults- all indicative of a future possibility of the same.
In the case of opting for car loans, Sub-prime lenders are often said to be the best possible option for those who have a bad credit reputation. Without the coming in of the concept of Sub-prime lending, those with a less than stellar credit reputation often had to pay exorbitant amounts while applying for car loans. Those who were searching for a means to refinance their car or buy a new one were often made to pay higher prices as a result of their negative history.
However, with the advent of Sub-prime lending, even if you do not have the requisite resources to buy a new or a second-hand car or are unable to find reasonable rates to borrow a loan at, the tables have now been reversed.
Sub-prime auto lenders provide specifically to clients who have no positive history in the field. By providing lower rates to clients who classify as sub-prime borrowers, these auto lenders are able to grow in popularity and thus increase their profit margins while also providing for the needs of the less-than-desirable borrowers. By borrowing from Sub-prime lenders, one can restore one’s credit image and not only meet the requirements of the present but also strengthen one’s standing in the future.