CHARLOTTE, N.C. (April 7, 2023) — Glenview Finance, a capital provider for buy here-pay here (BHPH) dealers, has debuted "Credit Builder," a subprime automotive finance program designed specifically for the modern automotive retailer in a digital age.
Launched in January 2023, Glenview prudently conducted a soft rollout of the program to ensure the highest satisfaction levels for its dealer clients and their customers. With all personnel, procedural, and policy goals met, Glenview will intensify its sales and marketing efforts.
"Developed over 24 months, we painstakingly made sure dealers would embrace this new source of deep subprime funding," said John Donaldson, Glenview Finance President. "We utilize sophisticated, smart algorithms to assist our underwriters in swift decisions with maximum benefit for our dealer clients and their customers."
Glenview made every effort to ensure Credit Builder is a simple and intuitive point-of-sale program. All terms, conditions, dealer incentives, and pricing tiers, are concisely laid out in just two pages. Dealers apply using DealerTrack.
"When a deal meets our parameters with all the boxes checked, we can decide in minutes and provide funding within hours or the next day," said Kyle Heintschel, Glenview's National Sales Director.
Fast turnaround times for funding decisions have become the industry standard, and Donaldson insisted Credit Builder be a leader in the marketplace.
"Our turnaround times are the best in the business, but we're also going to adhere to our guidelines strictly," said Jeremy Wood, Underwriting Manager. "If the customer doesn't meet our parameters, we'll let you know immediately."
Donaldson quickly added that Credit Builder Program is aggressive in the marketplace, and underwriters have the authority to match or beat any direct competitor.
"Whether it's dealer net proceeds, the rate, the term, or all three, we will be assertively competitive," Donaldson said.
Credit Builder's competitive rates and flexible terms will help most car buyers get behind the wheel of the vehicle they need and can afford. For example, contract terms by vehicle age range from two years old and newer to 60 months and 8-10 years (max) to 39 months. Similarly, mileage ranges from 50,000 to 60 months and 100,000-130,000 miles (maximum) to 39 months.
Credit Builder offers financing to customers with a minimum of a 500 FICO score, six months on the job, a $1,000-$1,500 down payment, and a $25,000 maximum amount financed. The application process is fast and straightforward.
Dealers directly connect to Glenview's underwriters via phone or email, so phone messages, prompts, or web links to frequently asked questions are not time-consuming.
"When you call the underwriter, we typically answer the phone or call back within minutes," Wood said. "We know how frustrating it is when a customer anxiously awaits a decision or needs an answer to a question, and you can't get someone to respond."
Donaldson said Credit Builder is perfect for that smaller retailer but can also meet the needs of a larger dealer group.
"Dealers of all sizes see fewer deep subprime finance providers and tighter credit stips," Donaldson said. "When we did our research, we learned dealers miss and want that personalized touch. So we provide that with a program that makes good financial sense for them and their clients."
Glenview Finance has more than a decade of experience in serving automotive finance professionals by providing them with unique programs designed to assist them with growing their businesses by providing dealers capital and offering deep subprime auto financing for consumers. In addition, leadership at Glenview has nearly 100 years of experience in accounting, finance, and subprime finance. The company operates in 13 states on the Eastern Seaboard, the Midwest, and Texas. Call (877) 413-5929 and select Option #1.
National Sales Director, Glenview Finance