We Buy
Auto Loan Portfolios
Anywhere In The U.S.
"Buy Here/Pay Here" Portfolios Welcome
=
T. J. Stewart (TJS) is the parent company of National-Note-Buyer.com
Call Us Toll Free (866) 935-3100
We are aggressively seeking private or other auto paper. Typically, a Buy Here/Pay Here lot will finance the purchase of their used cars because their car buyers have marginal credit and/or lower incomes etc. We understand this market and want to buy this type of paper. We purchase from a NON-RECOURSE position; which means that if a loan we buy does not pay, we DO NOT require the selling dealership to make good on this defaulting loan. Once we buy the loan, it is ours to deal with.
There are no minimums or maximums in loan portfolio size but a good comfort range is between $500,000 and $5,000,000. While this is our comfort range, we can deal outside this range on a case by case basis. The car dealer has the option of selling us their whole portfolio or a part of their portfolio at their discretion.
Typically, Portfolios are purchased without recourse to you, the dealer & no reserves are held
You will be offered up to 90% of the principal balance. We will also make exceptions for gross purchase. We can fund your portfolio sale in a matter of a few days, with everyone's full cooperation.
Below is the information needed to evaluate and price the loans you wish to sell.
CLICK HERE to Download our Auto Loan Portfolio Sale - Dealer Package
Call Us Toll Free (866) 935-3100
Criteria for Portfolio Acquisitions: (Please keep in mind that prices may or may not be affected if contracts are below the following criteria. However, a review is necessary to determine the price.)
- No APR required, 18% or higher preferred. (Prime Interest Rate + 12% +/-)
- 3 to 6 month seasoning preferred for monthly, semi-monthly, bi-weekly and weekly contracts. Monthly contracts are preferred but others are OK too
- Vehicle Down Payments are 25% +/- preferred but most down payments are workable
- Minimal number of late payments
- Current accounts no greater than 20 days past due.
Documents needed to underwrite and price your portfolio:
1. Current Pay History With Principal Balance
2. Copy of Contract
3. Copy of Application
4. Buyers Order (collateral description)
5. Credit Bureau – The credit report you ran when you made the sale but, OK without this report
(A) If Excel computer Spreadsheet is NOT Used, Please forward a random sampling of accounts (15-20 contracts), along with document #’s 1-5 to my attention at the address below. These loans may be summarized on the Hard Copy Auto Loan Data Sheet. Upon review, you will be contacted to discuss the purchase. Please feel free to contact me with any questions. This sampling of accounts is only necessary when you don't provide the loan summaries on the Excel spreadsheet. The use of the Excel spreadsheet is easier for you and for us and is highly preferred.
To Start, please download the Auto Loan Portfolio - Dealer Package and complete the Excel spreadsheet with the requested information for each loan you wish to sell. This Excel spread sheet should be emailed to our office when it is complete and we will provide you with preliminary pricing for your portfolio. If this quote is satisfactory, we will need copies of the other items 1-5 listed above.
If you don't want to use the Excel spreadsheet, simply follow (A) above and we will quote your portfolio using the samples you provide. CLICK HERE to email your questions to us.
The starting Excel spreadsheet will capture the following data for each loan and is necessary for our preliminary cash quote. We only need this spreadsheet completed to provide you with a quote. Once our cash quote is accepted, to fund the deals, we will need the other items specified 1-5 above.
Below, please find a list of data fields that will assist us in evaluating, structuring and pricing the proposed purchase. In order to expedite our review, we would appreciate this information being provided in an electronic file compatible with MS Excel. A blank Excel file is included with our Starting Package Download.
Data Fields:
- Account Number
- Borrower Name
- Contract Open Date
- Original Amount Financed
- Annual Percentage Rate or APR on the loan
- Original Contract Length or Term (example: 36 months)
- Number of Payments Already Made and the Number of Payments Remaining
- Payment Amount
- Current Principal Balance
- Payment Frequency (Monthly, Weekly, Bi-Weekly etc.)
- Cash Down Payment
- Vehicle Year
- Vehicle Make
- Vehicle Model
- Complete VIN Number
- Mileage at Date of Sale
- Next Payment Due Date
- Last Payment Made Date - The date you received the last payment on this loan
- Days Past Due (this is the total amount of days the loan has been past due over the life of the loan)
- Date the Last or FINAL Payment is Due
CLICK HERE to Download our Auto Loan Portfolio Sale - Starter Package
Call Us Toll Free (866) 935-3100
Please feel free to contact me with any questions or comments related to
the information requested or your portfolio in general. I look forward to
speaking with soon.
Sincerely,
Tom Stewart
T. J. Stewart
20310 N SR 3
Eaton, IN 47338
WWW.National-Note-Buyer.com
E-Mail:
BizInfo99@gmail.com
(765) 396-3427
(866) 935-3100
(765) 396-3052 FAX
CLICK HERE to Download our Auto Loan Portfolio Sale - Starter Package
CLICK HERE to Return to our Main Page Call Us Toll Free (866) 935-3100