"Competition among lenders, particularly in the sub-prime space will continue to intensify over the coming year..."
San Ramon, CA (PRWEB) September 13, 2016
blueSky Marketing and Consumer Portfolio Services’ partnership is projected to boost dealer sales in an already surging non-prime auto segment. With used car sales hitting historic highs in 2015 and continued high demand through 2016, the timing couldn’t be better.
In addition to growing used car sales, the industry as a whole is on the uptick. According to Keith Crain, the Editor-in-Chief of Automotive News, “We are seeing record auto sales in the U.S. as well as record profits” (autonews.com/article/20160815).
Partnering with blueSky also gives Consumer Portfolio Services an edge in the competitive sub-prime lending market. According to Auto Finance News, “competition among lenders, particularly in the sub-prime space will continue to intensify over the coming year,…” (autofinancenews.net/abs-volume-to-follow-slowing-sales-trend-fitch-predicts-video?).
The union of a leading auto finance company and a trusted auto loan lead provider benefits the non-prime lending business in two ways:
- Dealers will have an added resource to generate more sales opportunities for dealerships around the U.S.
- Customers will have increased chances of getting approved for their auto loans.
Consumer Portfolio Services is an independent specialty finance company that provides indirect automobile financing to individuals with past credit problems, low incomes or limited credit histories. As a Special Finance lead provider, blueSky works with over 40,000 auto loan seekers each month and assists them with specialized Dealerships as well as direct and indirect lending services.
About blueSky Auto Finance
“There must be a better way for working people to get auto financing for the car they need." This simple idea drove a group of long-time auto finance industry veterans to start blueSky Auto Finance in 2004. We understand how confusing buying a car and securing a car loan can be, especially for customers in need of a bad credit auto loan. So we've put more than 100 years of combined automotive experience to work for you! Through our national network of direct and indirect lending partners, blueSky gives customers the opportunity to get the best auto financing based upon their individual circumstances. blueSky Auto Finance is a subsidiary of blueSky Companies, Inc. Corporate offices are located in Northern California’s premier business park, Bishop Ranch in San Francisco’s East Bay.
CPS company overview
Consumer Portfolio Services is an independent specialty finance company that provides indirect automobile financing to individuals with past credit problems, low incomes or limited credit histories. We purchase retail installment sales contracts primarily from franchised automobile dealerships secured by late model used vehicles and, to a lesser extent, new vehicles. We fund these contract purchases on a long-term basis primarily through the securitization markets and service the contracts over their lives. Our operational headquarters are located in Irvine, California and we have four additional strategically located servicing branches in Nevada, Virginia, Florida and Illinois.