FinCo Management’s BHPH Solutions Endorsed by the Illinois Independent Automobile Dealers Association
MARBLEHEAD - FinCo Management, a provider of consumer finance solutions to the used automobile industry, announced it has has been added to the Illinois Independent Automobile Dealers Association’s list of Preferred Providers.
Through this new relationship, the IL-IADA has endorsed FinCo’s services that enable dealerships to offer direct financing to deep subprime customers. FinCo Management's HYBRID product offers dealers without in-house financing to gain instant entry to the BHPH market without any investment of cash, software, staff or extensive training.
FinCo Management's contracts are funded in two days for 50 percent of the amount financed up to the auction price of the vehicle. The dealer can recoup the cost of the automobile plus partial profit at time of sale then realizes the remaining profit from future consumer payments over time.
"We recognize there remains a large number of successful dealerships who could achieve a higher level of sales if only they were able to provide direct financing to unbanked subprime and deep subprime customers with the personal cash flow to support payments on a used automobile," said Chief Executive Officer, Toby Reiley. "FinCo Management provides complete BHPH infrastructure with the dealer benefiting from the centralized operations. The only requirement on the dealer is to source and sell the cars to the usual customers."
The Company's centralized operation leverages third party contractors to create efficiencies for dealers while reducing cost and risk when compared to manning their own finance and compliance departments. Dealers are rewarded for originating "smart deals" as pass-though collection costs are avoided.
More Industry

Used EVs Defy Overall Market
While the used-car market saw three months of price declines or stagnation, the used EV segment did the opposite – rising for three straight months.
Read More →
Gone to the Dogs
A Stellantis brand decided to have some fun with one of its SUVs’ design to address growing emphasis on family pets.
Read More →
OEM Poll Sees Industry Evolution
Kerrigan Advisors’ survey of automakers finds that tariffs, technology, network tightening and other factors are poised to reshape auto retail.
Read More →
Luxe N.C. Dealerships Change Hands
A collection of Italian and English brand franchises were handed off to the owner’s friend in the business and include the Carolinas’ only Ferrari retail stores.
Read More →
Exposure Drives Interest in Chinese Cars
At a recent demonstration, consumers had the chance to ride in a Chinese-branded vehicle, a firsthand experience that improved their perceptions and purchase intent.
Read More →
Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Agent Advocate
Rob Mancuso, who comes from a long line of auto dealers, values general agents’ place in the industry and makes a case for them taking an even bigger seat at the table.
Read More →
Driving Under Distraction
Though consumers gave higher marks to new vehicles in JD Power’s most recent initial-quality poll, high-tech interference worsened, pointing to craving for simplicity.
Read More →
Affordable New Cars a Thing of the Past
More than one out of five new vehicles sell for more than $60,000, according to Edmunds. That's up 7% compared to prepandemic 2019.
Read More →
State Follows Federal Warning on Auto Ads
The Massachusetts attorney general cautioned the state’s automotive dealers to be upfront with the consuming public about their vehicle prices or risk punishment.
Read More →