Ever wonder how Palladino Lending Solutions can find the best vehicle for your needs, without saddling you with more debt than necessary? The answer is our proprietary vehicle matching software: iDealer Plus! Thanks to this revolutionary software, we can match your credit to our extensive available inventory and not only find you a vehicle, but one with a better loan-to-value ratio than you’ll find with the competition. Read on to learn more about this stellar tool in Palladino Lending Solution’s arsenal.
What is iDealer Plus?
As mentioned above, iDealer Plus is a proprietary software that scours the combined inventories of our 11 dealerships to find vehicles that match your credit score. This simplifies the process exponentially, as rather than having to look through our entire inventory we can tell you which vehicles fit in your budget. From there, you can decide which of these vehicles best suits your needs—without the potential of getting hung up on a vehicle outside of your means.
Because we only show you the vehicles that fit into your budget, according to your credit score, this also gives us a chance to help you pick a vehicle that provides a better loan-to-value ratio. This means, you can pay less over time for an equivalent vehicle!
What is loan-to-value?
The loan-to-value ratio is a way lenders assess the risk involved when they provide a loan. It takes into account the amount loaned, along with the market value of the asset in question—in this case, a vehicle. This is important since, the higher the loan-to-value ratio, the greater the loss to the lender if the loan isn’t paid back. Lenders mitigate this risk by charging more interest on a loan—meaning you pay more over the long haul. So if you have a poor credit score, or are considered subprime, you’ll often need to pay a higher loan-to-value ratio in order to secure the loan.
Part of what makes iDealer Plus such an excellent tool, is the fact that it helps to determine which vehicles provide a better loan-to-value ratio. This means that—even if you’re still considered subprime—we can find you a vehicle with a better loan-to-value ratio than the competition, while still meeting all of your needs. So while many creditors that deal with subprime credit customers offer up a loan-to-value ratio of anywhere from 110 to 120%, here at Palladino Lending Solutions we’ll find you a vehicle with a 96% loan-to-value ratio. It might not seem like much, but it can make a serious difference. Of course, this is all in addition to our Return To Prime program, another way in which we help you out with credit-building solutions.
If you’re looking for a vehicle, and your credit history is standing in the way, let Palladino Lending Solutions help. From our extensive inventory to our Return To Prime program or the smart iDealer Plus tool, we go out of our way to ensure you get the vehicle you need at a cost that’s right for you. If you have any questions, feel free to give us a call or fill out the form below and begin the process of finding a new vehicle—and rebuilding your credit!