SAN DIEGO, Calif. — LHPH, LLC, a provider of services to the lease here pay here (LHPH) and buy here pay here (BHPH) industry, announced an exclusive relationship with Advantage Funding to provide financing for select BHPH and LHPH dealers.
“The largest single hurdle for dealers looking to enter into the LHPH space is access to capital,” stated Terry Bowdler, Founder and CEO of LHPH, LLC. “We have now removed that hurdle for many successful dealers across the country,” he added.
LHPH, LLC and Advantage Funding worked together for over a year developing a dealer finance model that is profitable and easy for dealers to use. The finance structure works for subprime loans and leases enabling dealers to fund the cost of the vehicle plus a small mark up at below market interest rates. Since it is a recourse line of credit, any default on the underlying contract is guaranteed by the dealer and must be paid off within 30 days of the date of default.
Many banks in the BHPH area do not want to be involved in the LHPH market. But Advantage Funding’s program treats leases and loans the same, enabling dealers to partner with a lender that understands their leasing business.
Dealers interested in exploring this program further can contact George Klinke of LHPH, LLC at [email protected], or (619) 516-3903, or Darasue Lyons of Advantage Funding at [email protected], or (516)833-1722.
Source: LHPH, LLC