Editor’s note...

I thought this issue would be a great time to recap exactly what special finance entails. If you are pondering entering the sub-prime arena, either by being proactive or by default, please take a few notes.

As stated by many industry experts over the years, special finance is the non-traditional method for consumers with less than perfect credit to obtain auto financing. Some lenders place more emphasis on a consumer’s credit profile, while others key on one’s job and willingness to pay. These loans yield a higher rate of return simply based on the amount of risk.

Below are 10 critical components for success in special finance, originated by Greg Goebel, a successful U.S. dealer principal. See more of Greg’s ideas and strategies at www.specialfinanceinsider.com. Incorporate the following components as a framework and watch the fruits of your labour grow:

1. Commitment

2. Inventory

3. Personnel

4. Finance companies

5. Telephone skills

6. Sales process

7. Deal structure

8. Marketing

9. Compliance

10. Systems

Please note, starting with the next issue World of Special Finance will be available solely through our electronic format. E-mail us today at digitaledition@wosfmagazine.ca to be placed on our distribution list.

Thank you!

Michael G. sly
Publisher/Editor