Western Funding unveils dealer award program geared toward older vehicles

Western Funding launched a compliment to its successful Triple Pay Program this week; an initiative dubbed the “10-10-10 Program.”

As an extension of the Triple Pay program, the subprime auto finance company explained its “10-10-10 Program” allows dealers to fill their Triple Pay buckets even faster and increase the speed at which they may receive their second and third participation check by financing quality older vehicles with higher mileage.

The “10-10-10 Program” stands for 10-year-old vehicles with a maximum of $10,000 amount financed (before add-on products) and a minimum of 100,000 miles.

“The ‘10-10-10 Program’ gives dealers the opportunity to profit faster by reaching their second participation check and drive towards achieving the third payment stream on Triple Pay,” Western Funding president Guerin Senter said. “Dealers now have a greater opportunity to reach their residual income at a much faster pace than before. We think that paying the dealers quicker is great for our long-term relationships.”

Triple Pay is a unique program offered by Western Funding that can give dealers the opportunity to build a portfolio of accounts and share in the profits of each deal. The program provides dealers three opportunities to receive payment on the same contract.

Dealerships can maximize their profits by earning up to 50 percent of the interest collected, and the entire principal as the customer makes payments. Triple Pay is a product geared toward lower mileage and newer model year vehicles.

Dealerships interested in building a Triple Pay portfolio with Western Funding are encouraged to call the finance company directly at (702) 322-9951.