Updated January 7th 2025
One of the questions we hear the most when helping new used car stores get started is, “Do you know any used car dealer financing companies?” As a new used car dealership in the Carolinas, it is essential for you to establish relationships with lenders to ensure that your customers have the best finance options available to them when they are ready to buy a car.

To help you get started, we have curated this list of lenders for used car dealers:

Best Finance Companies for Used Car Dealerships in 2025

This list was curated over time by word of mouth, business relationships, and direct Internet searches.  We do not endorse any of these lenders.  This is just a resource guide to get you started.

  • Credit Acceptance Corporation (CAC) – Home of the guaranteed credit approval!  Credit Acceptance is a leader in the subprime auto finance industry, helping dealers sell more cars and make more money.
  • Automatic – Automatic is an auto loan underwriter. The platform accepts loan applications from Dealerships and funds those loans from various Lenders.
  • Sensible Auto – Sensible auto boasts same-day funding, instant approvals, and rates as low as 6.99%.  Using the backend of their platform they help structure the deal to get it approved so you can say yes to the buyer.  It has been compared to platforms like Credit Acceptance (CAC)
  • US Bank – A trusted lender for all of your dealer finance needs.  US Bank is a part of the Route One and Dealertrack network of lenders.
  • Ottomoto – Modern lending app for car dealers. Ottomoto provides a faster, easier and more secure way for your customers to finance their vehicle.  They provide you with an online credit application that feeds directly to their lending portal.
  • CUDL – Credit Union financing network
  • Select Acceptance Corporation
  • Westlake Financial
  • Ally
  • LightStream – No partnership, just an affiliate link on your website.

Other banks we did not mention can be found on this 2019 “Top 20 Used Car Lenders” list.

What about Dealertrack and RouteOne?

These are just lending portals.  They require you to already have direct relationships with the lenders.  If you sign up for Dealertrack or RouteOne you are only getting the service that connects you electronically to your lenders for the purpose of approving and structuring the deal.  When you sign up with a lender they give you their Dealertrack or RouteOne ID and then you are able to add it to your portal to open that connection.  RouteOne is typically a free portal and Dealertrack is around $80/mo to get connected to your lenders. Our KGI Dealer Solutions DMS has connections to both of these lender portals.

Dealer Finance Resources in North and South Carolina

For dealerships in North and South Carolina, we highly recommend you reach out to David Bafumo and his team at Champion Dealer Advisors. With years of experience in the F&I landscape of the car business, Champion can provide invaluable assistance in navigating the complexities of the auto finance and F&I product side of the business.

How to Get Started with Dealer Financing

Step 1: Research the Right Lenders

Start by identifying lenders that align with your dealership’s goals. Subprime specialists, credit unions, and traditional banks all offer unique benefits. Our curated list above is a great place to begin your research.

Step 2: Contact Lenders Directly

Reach out to the financing companies listed on this page. Most have dealer onboarding teams that guide you through setting up an account. Be ready to provide details about your dealership, such as your business license and any existing financing relationships.

Step 3: Understand Requirements

Each lender has specific requirements for dealerships. This can include:

  • A minimum number of monthly financed sales.
  • Specific customer credit profiles they work with (e.g., subprime, prime, or no credit).
  • Dealer agreements outlining fees and processes.

Step 4: Build a Financing Strategy

Once you’re connected to lenders, consider the financing packages you’ll offer to customers. Will you focus on low down payments, extended terms, or competitive rates? Tailor your strategy to your target audience.

Step 5: Work with your Website Designer to Target Customers

Once your financing options are set up, it’s time to promote them effectively. Collaborate with your website designer to:

    • Highlight financing offers prominently on your homepage and vehicle pages.
    • Add a “Financing Available” banner or button that links to an easy-to-use credit application form.
    • Include targeted keywords like “bad credit financing available” to attract local buyers through SEO.
    • Use testimonials or success stories about customers who secured financing through your dealership to build trust.
    • Ensure your website is mobile-friendly, as most car buyers start their search on smartphones.

Get Started Today!

If your dealership is in North or South Carolina, we’d love to help. We’ve worked with hundreds of new dealers, offering tools like our DMS, websites, and marketing to make it easier. We’re located in Apex, NC and would love to help your dealership be successful!