What everyone is saying about Drive

“When I started doing Special Finance four years ago I searched for several sub-prime lenders. I remember the first deal I did with Drive. The buyer took his time and helped me understand the lender’s requirements as well as what my structure could be. My area sales manager (great guy) followed up with a visit to our dealership shortly thereafter. He gave me a level of reassurance about Drive Financial. I am still with the same dealership after four years, and Drive Financial is MY NUMBER ONE BANK FOR SUB-PRIME. Over the past four years Drive has funded hundreds – and I mean
– of my deals. We know in today’s economic times there are more people that have fallen into the sub-prime market. Four years ago, I had several sub-prime lenders that talked a good game, but where are they now? Well I can tell you…”game over” for them. But not Drive, which is why I am still with them. DRIVE DELIVERS!

The greatest challenges I see today in Special Finance is that there are more and more people losing their homes, jobs, wages, etc. Drive has continued to adapt its programs to ensure that even in these tough times, there is still hope. I have so many customers that come to me believing that there is no way they will be able to have a vehicle. But I know something they don’t. I KNOW DRIVE.

When working with Drive, the key things a dealer should know are LTV, rate, year and mileage of vehicle, and — most important — the stips. My Area Sales Manager helps me manage my relationship with Drive by making weekly visits and phone calls. He is always on top of all the deals we submit to Drive. He has continued to inform me of any changes and or updates from Drive. This helps make funding deals quick and easy. Drive is a major partner in the success of our dealership. My Special Finance Department is still going strong because of Drive Financial.

DARRON ISBELL • SPECIAL FINANCE MANAGER
Sunnyvale Ford, Sunnyvale, California

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1. Why did you choose to start working with Drive®, and why have you stuck with Drive as a lender?

I started working with Drive as a lender mainly because it gives me a way to go with a deal when other lenders just shut you down. I have stuck with Drive because it gives me an option when I have none. Drive also funds very fast. If I have to pay a little more money in fees to Drive rather than another bank to get my deal funded, I will send it to Drive.

2. What do you see as the greatest challenges in Special Finance today? Is Drive able to help you overcome any of those challenges?

The greatest challenge in special finance today is banks. There are plenty of people out there today that need special finance. Bankruptcies are higher than they have ever been and credit is worse since we went into a recession. Drive has many options to overcome [consumers with] these challenges.

3. What are the key things a dealer should know when using Drive as a lender?

In order to save money in fees with Drive, you need to watch your LTV. If you can keep your loan to value under 115 percent or less, and stay away from extending the term, you can keep a reasonable acquisition fee. Another key with Drive is that today’s customer is in the middle of foreclosure or behind on payments on his or her house. Unlike other banks, Drive does the deal. I like that. Lastly, Drive allows you a 60-month term when other special finance banks allow 36-48 months as their terms.

4. How does your Area Sales Manager help you manage your relationship with Drive?

My area manager is great. Her name is Amy Watkins. I see that woman more than I see some of my salespeople. She is always making up flyers to keep me (and I’m sure all of the other dealers) up-to-date on what to watch and watch out for with Drive. She is full of information and I love that.

5. Do you see Drive as a partner to help your business succeed?

I do. Drive helps our business because it gives us a way to go on a deal when everyone else in the market wants nothing to do with it.

KEITH JACKSON • SPECIAL FINANCE MANAGER
Elk Grove Acura, Elk Grove, California

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