What’s going on at Dealers Resource Center in September 2022:
Let’s talk about getting back to basics
Hey, everyone. Deric Kalamitsiotis here with dealers Resource Center. We were out on the road last week–went down to Tulsa for potential partnership client in the Tulsa, Oklahoma area. But what we were hearing on our way down was a lot of stores right now are in the situation of getting back to the basics.
We had a couple of really great years of growth, and that growth was fairly easy. What that caused is for us to forget the basics. And a lot of this came around the subprime side because we really have to be good at getting down to PTI, payment to income, DTI, debt to income, the three C’s of credit. We got to make sure that we’re looking at the bureau, how we’re submitting the deals. They may not require proof of income, but when you do proof of income and you find $500 more in income by getting proof of income, what does that equate to in payment? You could look at $50 to 60 more dollars a month in payment just based on finding that additional $500 in income.
Anyways, if you would like to get a free consultation of your FNI subprime process or prime process, please reach out. We are willing to come in and do a free analysis of what you guys have going on in your FNI departments.
Again, this is Deric Kalamitsiotis Dealers Resource Center. Cell phone is 314 681 6157. Thanks, Guys!