If you have a subprime department, or are in the process of building one, you’ll want to get connected to the biggest and best subprime lenders. After all, the more lending resources you have, the better your chances will be to get those subprime deals done. But how do you know that you’re connected with the best lenders?
The Leading Subprime Lenders in the Nation
As the nation’s leading subprime lead provider, generating approximately 250,000 credit applications a month, Auto Credit Express has great insight into who the most active lenders are in the subprime space. Here’s an insider’s list of the current top 10 subprime lenders in the country:
It’s essential to be familiar with these national players in the subprime market. But nationwide lenders can only take you so far. There are a host of smaller regional lenders that can help grow your subprime business. Depending on where your dealer group is located, your top subprime lenders can vary significantly. Which brings us to…
Finding the Top Subprime Lenders in Your Area
If you have been sticking to our list of top national subprime lenders and haven’t been working with smaller lenders, you probably haven’t been reaching your full potential.
Luckily, our Auto Credit Express experts are able to identify and rank the top subprime lenders for any specific region in the U.S. For example, here are the 10 lenders in the Tampa-St. Petersburg (Sarasota) Florida metro area that had the most sales in the past 3 months:
If you’re a subprime dealer in the Tampa area and you’re not working with any or all of the lenders listed above, you’re likely not reaching your subprime potential.
Knowing which subprime lenders have the highest rankings in your area is essential if you are trying to attract subprime traffic. The team at CarsDirect and Auto Credit Express can get you the most up-to-date lender rankings for your surrounding area. For a personalized market-analysis report for your dealership, reach out to us at 888-535-CARS (2277) today. We’d love the opportunity to share our insights to help you grow your subprime business.