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1. What Is A Personal Guarantee?
2. Do Credit Accepting Companies
change
the numbers after we
accept an offer?
3. How fast can I get funding information?
4. Make more money buying at auctions?
6. How can I reduce time submitting apps?
Twenty plus years ago, nearly every lender required a used car dealer to
personally guarantee payment of every loan they funded with that dealer.
While some may still hold those policies, others have made it easier for
dealers to offer funding. Ask the lending company exacactly what
you (dealer) are covering with their Personal Guarantee.
The Personal Guarantee required by quality lenders today
require a Personal Guarantee that covers basic following current lending laws
and practices such as No Straw-Deals or in the event of a recourse
the advanced check sent by the lender will be returned.
VERIFY WITH THE LENDING COMPANY
The Personal Guarantee does NOT make you
a buyers Co-Signer for the auto loan.
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