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Nick M.K.

Where do you send the prime finance declines

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We are with Close and currently send the declines to First Response or Moneybarn. I would rather use a brokerage though, someone with a reasonably good success rate but not CF24/7 or Zuto. Last month I have 42% declines so quite a lot. 

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We've used first response a bit lately. Really can't stress enough how pleasant and on the ball the team on the phones are. Excellent online prop portal and they pay commissions even for sub prime.

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I like their systems and the ease of proposing, the only thing I don't like is when the buyer is "approved" but they will only lend say £6K on a £10K deal and my customer has no hope of finding a £4K deposit...

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I use Zebra next after Motonovo. Then FR. They’re great. Mallard are brill too in my experience but I think their sub-prime is just Advantage and Moneybarn. 

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Sub prime punters are a headache,crap swappers,no commission.We tell the chucky duffers If they want to buy the car,get their own finance.It can take ages to get these people accepted and they never return for another car.We have prime finance punters who return time and time again and look after their swappers which you can then retail again.

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I was thinking more about the near-prime buyers that still get declined by Close because of stuff like "affordability" (they can afford £190 per month but can not afford £230!) or even "lack of trace". We are just outside London and get a lot of applications from people that have been in the country 4-5 years, however the lender can only "trace" them to a certain address for 1-2 years and is unwilling to lend. Even a couple of extra acceptances every month can boost my bottom line. 

 

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Blu Finance are good and make the decision themselves 0238140914 our rep is Natalie 07849 832045

Zebra - 01656 760563

Mallard - 01206 243100

I usually mange to get an offer of some sort for most near prime declines and subprime. 

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Zebra and Blue keep getting mentioned so I'll talk to them both on Monday. We actually use Mallard every now and then and they often decline. We just did a deal today and Close said no (CCJ 4 years ago), Mallard also said no, First Response approved at a lower amount and luckily this customer could come up with the much bigger deposit required. 

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We use Zuto for all our finance now after Santander , massive lending panel of prime, near prime and sub prime stuff. 

They are on deal track so makes life very simple to prop to them and they pay fixed comms on everything sub prime and varied comms on everything prime dependent on lend amount. 

Works well as they have our stock on their search so we get customers back from them who are ready to buy and with anything we prop to them they sort all paper work (proofs for sub prime stuff etc..) and we invoice them and get paid. Ideal really :) 

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Mann Island & Blue Motor Finance both very good for prime and sub prime. Usually find if these two can't place it then bin it and move on!

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Last 3 Close declines have all been auto accept at First Response, so can't moan about them at all.

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