Finance Week Three

Part One: Finance process done live with customer Victor Sanchez sitting across from me using Dealer Center

In this video I go through the finance process LIVE with a customer. This customer had a credit score of 710 but he had just started to establish credit. He also was making $1,840 before taxes. As he is in my office I tweak the deal on Dealer Center to get the highest profit possible under the Westlake guidelines. In the next video I shop this deal to other banks to see if I can make a larger profit than with Westlake.



Part Two: After getting an approval through Westlake Financial I use Dealer Track to shop the same deal to multiple lenders in order to try to find a more attractive approval with less discount

Westlake approved the Victor Sanchez deal but with a big discount. No dealer wants to give a large portion of their profit to the bank and that is why a lot of dealers end up keeping their deals In House if they have the financial means and man power to do so. Therefore, we want to shop the deal to as many lenders as we can so that we can get an approval from lender with much less discount.


Part Three: Comparing The Victor Sanchez Deal Between Sub Prime Lenders Westlake & Lobel Financial

I compare the Victor Sanchez deal between Lobel & Westlake Financial to see which lender is willing to advance the most money for it

Part Four: Top Financial gives the most attractive approval but with strict stipulations

Out of the four lenders the Victor Sanchez deal was shopped to, Top Financial is willing to advance the most money but with stricter stipulations than Westlake. Top Financial wanted the full down payment paid prior to funding. The deal had two deferred payments with the last one being paid twenty eight days from the date of sale. That was too long to wait to get funded by Top so I ended up giving the deal to Westlake.