Nicholas is interested in purchasing non-prime automobile receivables
BULK PURCHASE AQUISITIONS
Nicholas Financial, Inc. is currently interested in purchasing non-prime automobile receivables in the form of bulk purchase transactions. Our target bulk purchase has at least 10+ loans and $25,000 in gross receivables. The remaining term of the bulk purchase must average under 18 months with no remaining term over 24 months.
Qualified bulk purchase loans should have made at least 2 months of payments and any account over $1,500 must have full coverage insurance. Vehicle mileage must average under 100K at inception of contract and no mileage over 125K. No account should be greater than 15 days past due at time of closing. Titles must be in house listing the dealer as lienholder (no third parties) and cannot be listed as "Rebuilt" or "Salvage".