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SEARCHSCOTTSDALE, Ariz. — Automotive Capital Group, Inc. signed agreements with three automotive dealerships to finance their vehicle sales. The combined dealerships are expected to have auto sales of 70 per month with an average selling price of $7,000.
SCOTTSDALE, Ariz. — Automotive Capital Group, Inc. signed agreements with three automotive dealerships to finance their vehicle sales. The combined dealerships are expected to have auto sales of 70 per month with an average selling price of $7,000.
This agreement follows an earlier $7 million commitment from a Glendale, Ariz., dealer announced in July. Current outside dealer gross contract financing is expected to be over $12,000,000, according to Automotive Capital Group.
The company’s finance program focuses on dealers in the $25 billion sub-prime auto market that banks often neglect.
In addition, Automotive Capital Group plans to increase sales from around 100 vehicles each month to more than 200 at an average price of $10,000. The company is selling on eBay Motors and offers financing to the buyer as part of the online auction.
Two Internet e-commerce sites are being introduced to educate sub-prime borrowers about the company’s financing programs. Automotive Capital Group already receives more than 75 online applications each day.
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