LGM Financial Services has partnered with Carfinco Financial Group to step into the non-prime financing market, the companies announced Monday.
LGM will expand the F&I services its offers auto dealers by supporting a non-prime lending solution through Carfinco.
Carfinco specializes in non-prime financing and provides financing options that work to enable dealers to offer credit solutions to consumers with a wide range of credit profiles.
“LGM identified a need among dealers for a viable financing option to provide to customers who may not qualify for various financing programs,” LGM corporate development president Jeff Fallowfield said in a news release. “We’re thrilled to be working closely with Carfinco on yet another value-add service we provide to our dealer clients.”
In collaboration, LGM’s nationwide network of dealer development managers will provide sales support for the non-prime lending solution, while Carfinco administers and manages the program.
“We are very pleased to be able to partner with such a well-respected provider in the industry whose commitment to service and dealer value match our own,” said Galen Gower, Carfinco business development vice president. “The relationship will allow Carfinco to reach a broader range of dealers and increase both those dealer’s revenue and the options available in the dealership to turn more applications into customers.”