Spa Financing> Dealers

[huh?]

Any tips on financing some one with less than perfect credit?  Is there some bank out there that will carry almost anyone?  What banks do you use?

[Brewman]

Have you talked to any spa dealers about financing options?  Couldn't hurt.  I gotta believe a dealer would do anything within reason to help move their merchandise.
They may work with lenders who accept less than perfect credit.  I know that car dealers often do this.
Brewman

[zzaphod42]

Household Finance Corporation. Interest rates are over 20% but they approve almost everyone.

[huh?]

There must be some confusion.  I am a dealer and I sometimes run across customers that want a hot tub and may not qualify for financing.  I was just wondering if there were any banks out there that other dealers have more success with.  We use splash card and Wells Fargo Financial (both are wells co.'s).  I have done several deals on re-fi's but just wondering if there is a "magical" bank that will handle higher risk debtors.

Sorry for the confusion.

[kvnlaw]

Carmel Financial. The problem is they will make a bid which is a percentage of the deal based on customers credit. Let's say you sell a tub for 5000.00 and the people are not good credit risks they will come back and offer you 60%. Now your option is take 3000.oo for the deal or drop it. Obviously you won't take it if you want to stay in business. Focus on people who can actually afford what you sell. It makes life much simpler.(Hope that's not too harsh)

[Spa_Tech]

Im in agreement with kvnlaw. Focusing on prospects with adequate income and credit is the best bet for self preservation.

Prospects with bad credit are not only higher risk but they are typically higher maintenance after the sale.

Reminds me of a saying;

"In God we trust, all others pay cash."