Varsity Chrysler Dodge Jeep Ram Ltd, Calgary AB
Varsity Chrysler Dodge Jeep Ram Ltd, Calgary AB

Steve Kindred

Varsity Chrysler Dodge Jeep Ram Ltd

Calgary, AB (Northeast Calgary)
Auto Dealers Coupe Diesel
Auto Dealers Coupe Diesel
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Varsity Chrysler Dodge Jeep

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Realtors, mortgage brokers, car dealers and others dealing with consumers' credit: what do you do when you get a potential customer with poor credit?
Steve from Varsity Chrysler Dodge Jeep Ram Ltd Answered this on April 25, 2018
Hi Shanna,  In the car business there are certain banks that support subprime lending. TD, Scotia Bank etc. The lending practices are designed around a potential customers "risk curve" and the loan approval will be conditioned with a palatable rate that aligns with the potential risk and a... (more) Hi Shanna,  In the car business there are certain banks that support subprime lending. TD, Scotia Bank etc. The lending practices are designed around a potential customers "risk curve" and the loan approval will be conditioned with a palatable rate that aligns with the potential risk and a specific amount to lend. Because of this the lender doesn't approve the original vehicle purchased, but in fact the approval dictates what the customer can buy. I hope this helps. Steve