Bad Credit Loans Loan In Canada Explanation Of Bad Credit Auto Loans Part Fifty Four
Bad Credit Loans Loan In Canada Explanation Of Bad Credit Auto Loans Part Fifty Four
The current debate about removing mark ups in the bad credit auto loans industry would obviously benefit potential borrowers of bad credit auto loans and more specifically those who had bad credit scores. On the other side of the coin this would also obviously remove the profits currently enjoyed by car dealerships but the size of the profit reduction would depend on the size of the flat fees and or application fees that these car dealers would apply to their car purchasing procedures. An examination of the flat fees that might be applied by car dealers shows that if fees of between four hundred and five hundred dollars were applied then many car dealerships would not experience such a large profit loss. There are only around seven percent of car dealers throughout the country who are the greedy profit mongers who would complain about this flat fee range, as they are used to setting their profit margins to be much higher than the average mark ups set within the car dealership industry.
People who are granted bad credit auto loans must also be cognisant of the fact that the remaining ninety three percent of car dealers believe that the enforcement of flat fees instead of various degrees of other profit making tactics would benefit their car dealerships and associated businesses in many ways. The application of flat fees would provide a more stable and steady flow of profits for the car dealers which would also save a lot of associated administration time and would minimise legal publicity which would all improve the image of the industry leading to buyer satisfaction and an increased volume of consumers buying cars and applying for associated bad credit auto loans. It was also found that there are many existing automotive retail companies and businesses that enjoy a healthy profit on interest mark ups of four hundred to five hundred dollars per contract.
Borrowers of bad credit auto loans who buy cars also need to realise that these companies often do not maintain these profit margins on a consistently because there are many of their car buyers and related borrowers of bad credit auto loans that pay less than the four or five hundred dollars in fees. The point here is that car dealers need to implement this flat fee of four to five hundred dollars irrespective of the size of the bad credit auto loan borrowed or price of the associated car that is purchased, in order to experience consistent profits. The few companies that do implement these flat rate fees experience a constant profit. Once other car dealerships understand and see the benefits of applying flat rate fees they are sure to adopt the same financial approach and experience the same consistent profit margins. This will also be to the advantage of bad credit auto loan borrowers and lenders.
To read about the various types of Canada loans available at BHM Financial or to apply directly online for a Canada loan in any one of the Canadian provinces namely, Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland, Nova Scotia, Ontario, Prince Edward Island and Saskatchewan, visit the loans in Canada website at bhmfinancial.com. You can also text chat with a BHM Financial loans consultant now, online, about your Canada loan, by accessing this link Canada bad credit loans text chat.
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