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Old 09-28-2010, 05:07 PM   #1
79LilRedExpress
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Arrow Us bank

I am looking at signing up with US Bank as a lending source.

Please post feedback, both positive and/or negitive, Thanks...
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Old 09-28-2010, 07:36 PM   #2
ohiobuckeyes
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We looked at this back in 2008 b/c we do alot of outside business with our Local US Bank branch. Rates were very good like a Huntington National Bank they beat CFC and Ally back in the day. From what I can recall the bank has a good Alternative Lending "SubPrime" Program. It was like CFC S-Tier Program. In Ohio US Bank uses the E-Title Program so your only getting a memo back.

The only reason we did not sign with the bank was b/c our dealer does not release Financial statements of this Businesses. Even had the local branch manger vouch about our business and the dealer services people still need a f/s statement, come to think I still have the filled out application in my desk.

Is that still a requirement for sign up? Anyone do any Alternative Lending "Subprime" Business with US BANK?

Last edited by ohiobuckeyes; 09-28-2010 at 07:41 PM.
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Old 09-30-2010, 12:36 PM   #3
XDCX
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We only have one member who has experience with U.S. Bank?

Would this be a better thread for AREA 51? Is there a reason why hardly anyone has replied to this thread or is the forum just a little sleepy lately?
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Old 10-11-2010, 07:17 AM   #4
79LilRedExpress
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I am still curious about US Bank...

Please send a PM to me if you would rather not post....

This is the first time that a bank has
asked for financials and a sign up fee...
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Old 10-11-2010, 08:33 AM   #5
Granch
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They definately look at financials, but i dont recall a signup fee.
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Old 10-11-2010, 08:40 AM   #6
79LilRedExpress
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Yeah... $100.00 No big deal but never had that before...

But, my question is , are they worth signing up with?
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Old 10-11-2010, 09:02 AM   #7
Granch
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Quote:
Originally Posted by 79LilRedExpress View Post
Yeah... $100.00 No big deal but never had that before...

But, my question is , are they worth signing up with?
For retail i wouldnt waste your time,.

If you do a decent amount of leasing I'd say yes.

The US bank special rates on most products are better than ALly's.

The only disadvantage with them is their credit requirements are higher than Ally's. You need to be good to get bought by them.


I have used them since Chrysler stopped leasing. Averaged about 5 deals a month with them before they did the special rates so that will probably go up.
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Old 10-11-2010, 09:27 AM   #8
XDCX
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Quote:
Originally Posted by Granch View Post
For retail i wouldnt waste your time,.

If you do a decent amount of leasing I'd say yes.

The US bank special rates on most products are better than ALly's.
I heard the West BC has been encouraging their dealers to sign-up with U.S. Bank and they've cited recent increases in leasing volume as a reason why dealers would want another lending source.
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Old 10-11-2010, 10:38 AM   #9
79LilRedExpress
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Quote:
Originally Posted by Granch View Post
For retail i wouldnt waste your time,.

If you do a decent amount of leasing I'd say yes.

The US bank special rates on most products are better than ALly's.

The only disadvantage with them is their credit requirements are higher than Ally's. You need to be good to get bought by them.


I have used them since Chrysler stopped leasing. Averaged about 5 deals a month with them before they did the special rates so that will probably go up.

Thanks for your input... Retail is what I was looking for.

Leasing is not very popular here. Ave miles per yr is over 20K...
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Old 10-11-2010, 11:03 AM   #10
Granch
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Quote:
Originally Posted by 79LilRedExpress View Post
Thanks for your input... Retail is what I was looking for.

Leasing is not very popular here. Ave miles per yr is over 20K...
If you look at what your getting from your other banks, their rates don't bring much to the table.

Like I said, if you need another leasing co, worth a look.
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