agent Entrepreneur logo
MenuMENU
SearchSEARCH

FinCo Management’s BHPH Solutions Endorsed by the Illinois Independent Automobile Dealers Association

June 19, 2012
2 min to read


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.

Ad Loading...


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

Photo of two men in suit jackets shaking hands next to new car inside of a dealership
IndustryApril 23, 2026

A New Consumer Culture in the Auto Dealership

Dealers should aim to build a positive work environment, helping employees execute an efficient experience, from their online research to the final delivery of the vehicle.

Read More →
Closeup of the side of an Audi car
Industryby Hannah MitchellApril 23, 2026

New-Vehicle Sales Down

A cloudy April forecast was expected due to last April’s sales surge in anticipation of U.S. trade tariff-inflated prices. Meanwhile, automakers pumped up incentives to address today’s consumer wallet woes.

Read More →
Photo of Cadillac Lyriq SUV on road with partly cloudy sky in background
Industryby Hannah MitchellApril 16, 2026

Used Autos Selling for More

A recent price spike due to several larger market forces, though it hasn’t dulled demand, is pushing more consumers to efficient models to squeeze in buys.

Read More →
Ad Loading...
Photo of facade of Waldorf Toyota car dealership
Industryby Hannah MitchellApril 16, 2026

Maryland Auto Group Sells

A group out West picked up the major D.C.-area collection, putting it in the upper tiers of private automotive groups in the U.S.

Read More →
Line graphic showing Cox Automotive's March Credit Availability Index status
Industryby Hannah MitchellApril 13, 2026

Auto Lending Opens Up in March

Lenders loosened access for subprime borrowers, and consumers with negative equity reached a record high, Cox Automotive reported.

Read More →
electric vehicle next to an urban charging station. EV Demand Diverges. F&I and Showroom logo
Industryby Lauren LawrenceApril 10, 2026

EV Interest Varies Regionally

U.S. consumer interest in electric vehicles lags behind other countries despite the rising gas prices caused by the ongoing war in the Middle East.

Read More →
Ad Loading...
Photo of the rear of a Mercedes GLC 400 electric SUV with a skyline in the background
Industryby Hannah MitchellApril 10, 2026

Brands Weighed on Projected Recalls

Research reveals the brands and models most likely to have higher recall rates over their lifetimes. While some brands rank high, addressing safety issues can be a selling point.

Read More →
Photo of white 2026 Ford Bronco on a sandy beach
Industryby Hannah MitchellApril 10, 2026

March New-Vehicle Sales Don’t Reflect War

Cox Automotive data shows Americans doubled down on big-is-better despite price increases. Slightly higher incentives helped fuel the demand.

Read More →
Photo of several cars on lifts in a service center
Industryby Hannah MitchellApril 9, 2026

Franchised Dealers Stand to Gain Service Business

Cox Automotive research shows both the opportunities and the challenges in turning consumers’ growing affordability needs into increased fixed-operations revenue.

Read More →
Ad Loading...
Photo of office desk with open laptop on it and an empty chair next to it
IndustryApril 9, 2026

What Matters Most in Building Your Agency

The partner you choose for growth and expansion is key, because better is the ultimate goal instead of growth for growth’s sake.

Read More →