Salt Lake City, UT 84107, US
Financial Services
www.octantautocredit.com
Octant Auto Credit is a subprime automotive finance company that has created a streamlined lending process with safeguards in place to reduce the number of collection issues, allowing dealers to increase sales to previously inaccessible consumers.
Octant Auto Credit is a subprime automotive finance company that has created a more streamlined lending process with more safeguards in place to reduce the number of collection related issues. Our 5 step verification process enables a simpler lending process for our customers and an easier approval method for dealerships. Octant lends a unique perspective, offering hands on dealer training and a greater opportunity for dealers to sell a greater number of cars. Our technology implementation allows us to track and reclaim the collateral quickly and efficiently in the event of a default. We boost the overall profitability of the dealership by increasing lending ability and therefore having an impact on the dealership’s profitability.
We currently have a $1,500,000 portfolio that is growing at a current rate of 20% per month. We are in the process of on boarding two of the top 20 dealership groups in the US. We have an excellent track record of portfolio performance for a subprime finance company.
Octant approaches its indirect lending from two perspectives. Octant examines both the collateral and the borrower. Explained simply, collateral determines term and advance rate and borrower determines rate. Additionally, Octant differs tremendously from other subprime lenders in service and underwriting. With both service and underwriting, Octant offers “cradle to the grave” support for both. This allows for greater usage of both Octant as a lender for dealers and customers who enjoy rather than avoid Octant service calls.