I Need Experienced Auto (Used Car) Note Buyer(s)
Hi, My sister runs and ownes a small used car lot. I have been talking to her about taking notes on her cars and then selling for cash so they can move the cars faster. She said that if i set it up I can broker them all. Well, now i need to find investors who will purchase the notes who have done car notes before. I want to make sure to structure them properly for the Highest dollar and that they are marketable. Please Contact me. [ Edited by rosspettid on Date 12/18/2003 ]
To state the obvious...this is a forum on real estate investing...not investing in automobile notes!
rosspettid,
check your inbox, I sent you a pm
What discount are you looking for? Are the notes to be seasoned or unseasoned? what is her guide as far as LTV on the vehicles, 110% left side NADA? less, more? Tough notes to broker. Some of the players inclue SDA (small dealers assistance), SeaWest financial, and Western Funding. All can be found on the internet.
Good Luck,
Shawn(OH)
Thanks, Those names will get me started. None of the notes have even been created yet. I want to structure new notes in the correct way to get maximum dollar. That is why I am reaching out to find experenced car note investors and thought this forum could help. I know one way to make it in the note bis is to make a nitch no one else is doing so there is no competition. Thanks, Ross. If anyone has any other sources please bring them on.
I work very closely with a Note Broker that buys Auto notes that range from $25K to over $300Million! He purchases airplane notes, mortgage notes and much more different types. I am sure he would be interested in helping you and your sister out. Send me a PM and let me know how much is the amount she is selling. I will contact you with his info if you would like.
Take Care and Good Luck!