Selling
“The Note”
Compared to Keeping “The
Note”
Sell Your Auto
Note
This is an example
Selling
“The Note”
– After 90 Days of Payments
A.
Dealer cost of
vehicle
$3,000.00
B.
Selling Price
of vehicle
$6,000.00
C.
Down Payment
received
$1,000.00
Finance remaining balance at 24% for 27
months
D.
Collect 3
payments of $241.00 each
$
720.00
E.
Principle
balance after 90 days $4,697.00
F.
Advance at 80%
of principal balance $3,758.00
G.
Total Cash collected as a result of selling
“The Note” (C+D+F) $5,478.00
H.
Subtract cost
of vehicle $3,000.00
I.
TOTAL PROFIT AFTER 90 DAYS (G-H) $2,478.00
Keeping“The Note”
A.
Dealer cost of
vehicle
$3,000.00
B.
Selling price
of vehicle $6,000.00
C.
Down payment
received $1,000.00
D.
Collect 12
payments of $241.00 each $2,892.00
E.
Total cash
collected after 12 months $3,892.00
F.
Subtract cost
of vehicle $3,000.00
G.
TOTAL PROFIT
AFTER 12 MONTHS
$
892.00
The above examples are for illustrative purpose
only.
Actual sales price and total profit will vary from this
example.
At
a time when it is becoming more and more difficult to secure
credit facilities, selling your contracts becomes a viable
source of raising capital. In the above example many dealers
would have accepted $5,478 in cash for a vehicle that had a
$6,000 retail price and a $3000 cost. If you are one
of those dealers who would have accepted a $2,478 gross
profit, then you need to contact Financial Solutions to turn your contracts
into immediate profits.
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