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Old 01-30-2018, 06:13 PM   #6
mryan55
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Join Date: Mar 2013
Posts: 595
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This is a fitting discussion and something I think about from time to time. Rewarding a sub-620 FICO score with up to $2,000 in additional incentive (on the Grand Caravan, which I guess will become the go-to subprime unit for stores with the DT lines).

In reality, this doesn't come up too often in my market because we are 80% lease and the non-prime money is only on a 1/B sale. Of our 20% retail business we only encounter a few sub-620 credit scores per month on the new car side. We are just lucky that FCA doesn't advertise the sub-prime bonus cash in their ads on a Caravan or Journey, or anything for that matter. Here in Metro Detroit some dealerships include the non-prime money in their newspaper ads, though.

I have subscribed to the BK mailing lists in the past (actually have a complimentary subscription to one of the programs right now, long story). We don't deliver many cars off of our efforts, but we can usually get a way to go with these customers, although many are held back by the lack of money down -- or previous burning of Credit Acceptance, Credit Acceptance, and other subprime lenders.
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