Dealer Profile: William Halley, General Sales Manager Stone Mountain Chrysler, Stone Mountain, Ga.

Q: Why did you choose to start working with Drive®? Why do you continue to work with them?

A: I started as a subprime finance manager in 1995, so I have been doing this for quite a long time. I found that Drive Financial gave me an edge over my competition, because many finance managers wouldn’t use Drive, because the fees were high. But the reality is, there wouldn’t be a deal if it weren’t for Drive. I have found Drive to be very consistent with its practices, which, in my opinion, makes it very easy to use them. Your callback is exactly what it says, with no surprises. Drive structures your deal to fit the callback and you have a deal. The callback gives you everything you need to do your deal, unlike many banks. It’s as easy as you make it to do business with Drive or any other bank.

Q: What do you see as the greatest challenges in special finance today? Is Drive able to help you overcome any of those challenges?

A: The greatest challenges in special finance today are inconsistencies of lenders practices, approvals changing when the deals are sent in for funding and funding issues. I have not had these problems with Drive, because with Drive the program is the program every time. The approvals remain the same throughout the transaction and the funding is amazingly fast for the type of customer Drive chooses to put on the books.

Q: What are the key things a dealer should know when using Drive as a lender?

A: The key things a dealer should know when using Drive Financial are as follows: You have to

»» buy cars to fit the program with Drive. There are many customers that fit this program that get approved with Drive and leave because the dealership doesn’t have cars for them. This needs to be part of the used-car manager’s job on a daily basis, if you really want to be in the sub-prime business like we are.
»» Funding with Drive Financial is as good as any other lender, if you send in a fundable package. If it goes in right, it comes out right.
»» Drive is not going anywhere, so if there is any question about their ability to fund, don’t let this be a concern. They do subprime the right way.

Q: How has your relationship with your sales manager affected your relationship with Drive?

A: My area sales manager does her job very effectively and is there when we need her, but over the years we have developed such a good relationship with our buyer that if we need help with a deal for any reason, we just call the buyer directly. Most [area sales managers] with Drive are more knowledgeable than any other [bankers] out there.

Q: Do you see Drive as a partner to help your business succeed? Why or why not?

A: Drive is a daily part of our business. They have been for years, because there is always a way to go with every customer when you understand their program. Much of our success is dependent on Drive, which is made even more evident by the referrals of customers from other dealers who don’t use Drive as a lender. We don’t understand why a dealership wouldn’t use a lender like Drive, but we are not mad because it just means more business for us.

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