Troy, Michigan (PRWEB) March 20, 2013
Wolverine Auto Finance is a new service that promises to revolutionize the way that Michigan consumers fund the purchase of their new and used vehicles. The founders of the company come from various automotive backgrounds, but they shared one common experience: witnessing the troubles that consumers across the country face when trying to get a car loan with bad credit.
"In the economy's heyday, loan-to-value ratios hovered around 100%, making it much easier for consumers to get approved for a subprime auto loan," said the company president. "But during the recession, those averages dropped to 60%, and though they have been showing signs of improvement, it is still quite difficult for people with poor credit to get approved for an auto loan in Michigan, let alone the rest of the country."
In order to assist these consumers, Wolverine Auto Finance is introducing a web-based, completely paperless credit application that ties into the company's database of lenders and dealers, many of whom are available in real-time to accept borrowers for financing. Instead of submitting applications to a whole host of local banks and credit unions - a common necessity for anyone whose credit places them at risk of being declined for credit - users can apply just once, and potentially enjoy a same-day financing approval.
"We believe we're providing a vastly superior experience for those consumers who are currently underserved by traditional modes of lending," remarked the company president in an interview this week. He went on to emphasize that Wolverine Auto Finance does not impose a fee for their services, as they are compensated through the dealers and lenders with whom they have partnered.
About the company: Wolverine Auto Finance is quickly becoming an integral part of the financing process for residents of Troy, as well as the state at large. The company caters especially to those consumers with credit problems. Consumers can choose to purchase a new or a used vehicle, and most applications are placed within an hour of submission.