The bad credit auto loan market is getting a boost by the formation of a new company that is entering the Texas and California markets. The team of managers that brought Triad Financial to several states has launched the new company; CarFinance Capital.
‘Just a few weeks after we launched in California, hundreds of dealers and their customers are already benefiting from CarFinance Capital’s new, dealer-friendly non-prime auto financing model,’ said Jim Landy, CarFinance Capital’s president and CEO. ‘Dealers want to work with a provider who offers consistency, flexibility and one-on-one support. Our mission is to fill that role and provide premium service to Texas dealers so they can meet the needs of all their customers.’
The reasons that a new company specializing in subprime auto loans is so important is that the need has never been greater. During the economic downturn, several specialty lenders went out of business. As they went out of business, many people found their good credit scores dwindling as they suffered from job loss, late payments, and repossessions. Under these conditions, there are more people needing bad credit auto loans than ever before, but fewer companies to service that need. A new company on the market allows for greater access to second chance auto loans. A hearty Thank You goes out to CarFinance Capital.