“WE TURN YOUR TURN DOWNS INTO CASH”… WITH ......Octant Auto Credit is a privately held...

“WE TURN YOUR TURN DOWNS INTO CASH”… WITH MAXIMUM GROSS PROFITS AND CASH TO DEALER

• MAXIMUM ADVANCE POTENTIAL ON ALL DEALS

• 30 MIN OR LESS STIPULATIONS APPROVAL ON ALL ELIGIBLE DEALS

• SAME DAY / 24 HOUR FUNDING

• ADVANCES PAID AS APPROVED – NO DISCOUNT CHANGES

• FLEXIBLE FINANCE PROGRAMS

• GPS, PAYMENT ASSISTANCE & PAYMENT REMINDER SUPPORT

• WARRANTY AND GAP AVAILABLE FOR EVERY POTENTIAL CUSTOMER

• ANCILLARY DEALER PARTICIPATION

• 24 HR CUSTOMER SUPPORT

• LONG TERM FINANCE CUSTOMER SUPPORT (EDUCATIONAL)

• ONGOING DEALER PRODUCT TRAINING

Contact us to discuss other options for funding contracts with your subprime customers.

Octant Auto Credit is a privately held company, managed by owners who make experienced automotive credit

dealership sales and approve almost 100% of your subprime customer sales.

Call us today for more information about our programs. Our responses will be prompt, courteous, professional and the key word in business… Flexible!

H. Patrick Sheehan: Finance Director / Senior Buyer: 801-694-3135

Octant Automotive Credit | 801-694-3135 | [email protected] | www.octantautocredit.com

MINIMUM DOWN PAYMENT

TIER “A” - 10%TIER “B”- 15%

TIER “C”- 20%

DEALER GUIDELINES

PROCESSING FEE: .......................................................................................................$150 (deducted from advance)DEALER ADVANCE LIMITS: .........................................................................................125%, 120%, 115%DEALER DISCOUNT: ............................................................................................................................... 10%, 15%, 20%DEALER DISCOUNT POLICY: ...................................................................... BASED ON FINANCED COLLATERALDEALER RECOURSE: .............................................................................ONE PAYMENT ON ALL TIER PROGRAMS.TITLE REQUIREMENT : ...................................................................Title and smog to fund new contracts.

FIRST PAYMENT MUST BE MADE BY CUSTOMER (NO DEALER PARTICIPATION) IF FIRST PAYMENT MADE BY OTHER THAN BUYER, CONTRACT IS VOIDED

CUSTOMER GUIDELINES

CATEGORY SPECIFIC GUIDELINES

• Experian credit bureau used for main credit assessment. All other bureaus considered.

• OAC’s goal is to fund a MINIMUM of 10 deals a month to achieve true consistent incremental sales for our Dealer Partners.

• First dealer check from OAC is for two completed contracts.

• OAC accepts tax id #’s and work permit #’s.

• Valid Utah or United States drivers license required on all deals.

• f

• funding.

• Information entered on credit application by the customer(s)

tier placement.

• No pick up payments. All down payments due in with in 30 days .tnemyap ts1 litnu syad 54 .tcartnoc fo

• Common sense used for all underwriting guidelines. Current industry practices apply. Guidelines used for guidance only. All

a Octant Auto Credit, based upon current buyer and credit risk. All exceptions and considerations will be considered on a case

• **** OFAC & Red Flag Compliance Copies: (Dates must match inquiry):

• Vehicles. Clean titles and true mileage only.

• DTI=50% PTI= 20% • 10% MINIMUM DOWN PAYMENT• RESIDENCE TIME: 1 year• JOB TIME: 1 year• OR• COMBINATION 3 YEARS EITHER IN JOB OR RESIDENCY TIME.• NO MORE THAN TWO JOBS OR RESIDENCES IN 3 YEARS.• SAME JOB INDUSTRY CONSIDERED.• TIME ON BUREAU 5 YEARS MINIMUM• TIME IN AREA (no gaps): 4-5 years• NO JOB OR RESIDENCE GAPS TWO YEARS MINIMUM.• COLATTERAL CONSIDERATION ON TIER APPROVAL.• PREVIOUS PAID AUTO CREDIT.• MIMIMUM RESIDENCE $500• NO LIVE WITH SCENERIO’S• NO MULTIPLE REPOSSESSIONS

• DTI=45% PTI=18%• 15% MINIMUM DOWN• RESIDENCE TIME: 6 -12months• JOB TIME:6-12 months• OR• COMBINATION 2 YEARS EITHER IN JOB OR RESIDENCY TIME• NO MORE THAN THREE JOBS OR RESIDENCES IN 2 YEARS.• TIME ON BUREAU 3 YEARS.

SRAEY 3-2 :)SPAG ON( AERA NI EMIT •• NO JOB OR RESIDENCE GAPS 1 YEAR MINIMUM.• COLATTERAL CONSIDERATION ON TIER APPROVAL.• TRADE LINE $5000 MINIMUM CURRENT OR PAID TWO YEARS

OLD OR NEWER.• LIVE WITH SCENERIOS CONSIDERED WITH RENTAL AGREEMENT.• MULTIPLE REPO’S CONSIDERED OVER ONE YEAR OLD OR IN

DISCHARGED BK

• DTI=40% PTI=15%• 20% MINIMUM DOWN• RESIDENCE TIME: RECENT MOVE IN’S TO 2 YEAR OK.• JOB TIME: RECENT HIRE WITH VALID JOB LETER TO 1 YEAR.• TIME ON BUREAU: 1YEAR• TIME IN AREA: 6 MONTHS TO 2 YEARS• COLATTERAL CONSIDERATION ON TIER APPROVAL.• 3 GOOD TRADE LINES MINIMUM $500 CURRENT OR PAID.• MULTIPLE BK’S OK MUST BE DISHARGED

CAT-1 CAT-2 CAT-3

HOURS OF BUSINESS

M–F 6 – 8.................................... PM MSTSAT 5 – 8.................................... PM MST

CONTACT

3264–458–888 TROPPUS REMOTSUCPATRICK SHEEHAN 801–694–3135FAX (All OAC Deal Apps) 801-606-7400

ALL NON-USPS SENT TO:

OCTANT AUTO CREDIT3350 S 2940 E #91230SALT LAKE CITY, UT 84109

ALL USPS SENT TO:

OCTANT AUTO CREDITPO BOX 91230SALT LAKE CITY, UT 84109


CUSTOMER GUIDELINES

*DOWN PAYMENT PERCENTAGE IS BASED ON SALES PRICE, TRADE VALUE

OR REBATE OKAY. MINIMUM $500 FROM THE CUSTOMER.

OAC Maintains, the right to refuse anyone credit and may execute the right to do so.

MINIMUM DOWN PAYMENT

TIER “A” - 10%TIER “B”- 15%

TIER “C”- 20%

DEALER GUIDELINES

PROCESSING FEE: ...................................................................................................... $150 (deducted from advance)DEALER ADVANCE LIMITS: .........................................................................................125%, 120%, 115%DEALER DISCOUNT: ............................................................................................................................... 10%, 15%, 20%DEALER DISCOUNT POLICY: ...................................................................... BASED ON FINANCED COLLATERALDEALER RECOUSE: ................................................................................ONE PAYMENT ON ALL TIER PROGRAMS.TITLE REQUIREMENT: ....................................................................Title and smog to fund new contracts.

...................................... :SELCIHEV ELBIGILENI Saturn / SAAB / Jaguar / Landrover / Porsche / Hummer

OAC FINANCE STRUCTURE

INTEREST RATES: CATEGORY “A”=21.99% CATEGORY “C”= 28.99%

TURN DOWN CONSIDERATIONS

• Repossessions within one year

• Major derogatory installment credit within one year

• Unlisted jobs paid cash

• Fixed income (SSI) w/derogatory credit

• Unemployed and AKA’s

• • Multiple Bankruptcies not connected

• Open chapter 13 bankruptcies

*Exceptions made based on vehicle and

customer’s qualifying information.

TIER “A”10% DISCOUNT125% MAX ADVANCE

TOYOTA-CARS / HONDA-CARS / TOYOTA

(TRUCKS/SUV) V-6 / HONDA (TRUCKS / SUV) V-6

LEXUS V-6 / ACURA / INFINITY / SCION

CATEGORY “B”=24.99%

TIER “B”15% DISCOUNT120% ADVANCE

MAZDA / MITSUBISHI / HYUNDAI / NISSAN /

TOYOTA V-8 / HONDA V-8 / KIA / BMW INFINITI /

DOMSTESTIC TRUCKS V-6 / LEXUS V-8 / SUBARU /

VOLKSWAGEN / VOLVO / AUDI

TIER “C”20% DISCOUNT115% MAX ADVANCE

ALL DOMESTIC VEHICLES / SUZUKI /

ALL DOMESTIC SUV AND TRUCK W/V–7 & V-8 /

JEEP V–6 & V-8 / MERCEDES / PONTIAC

Minimum Book Value: $4000 KBB. Deal structure= Tier Approval, (A/B/C) ****OFAC and Red Flag Compliance Copies: (Dates Must Match Inquiry): | OAC does not finance salvage, rebuilt or TMU Vehicles. Clean titles and true mileage only.

HOURS OF BUSINESS

M–F 6 – 8.................................... PM MSTSAT 5 – 8.................................... PM MST

CONTACT

3264-458-888 TROPPUS REMOTSUCPATRICK SHEEHAN 801–694–3135FAX (All OAC Deal Apps) 801-606-7400


AUTO FINANCE GUIDELINES

TERMSEXTENSIONS MADE ON “A” & “B” TIER

6 MONTHS MAX. FROM ORIGINAL CALL. A & B = $250 MINIMUM AMOUNT TO FINANCE $7,500

“C” TIER EXTENSION $350 MINIMUM AMOUNT TO FINANCE $9,000

**MAX TERM 60 MOS. ALL TIERSMAX MILEAGE CAP 145,000

MODEL YEAR CAP: CURRENT MODEL YEAR BACK TO, BUT NOT TO EXCEED 12 MODEL YEARS

TIER “A” & “B” MILEAGE GUIDELINESUP TO 125% OF KBB WHOLESALE (MAX)

AMOUNT FINANCED MINIMUM

AMOUNT FINANCED MAXIMUM

TIER “A” MAXIMUM AMOUNT TO FINANCE

**60 48 42 36< 60,000 > 80,000 > 105,000 = 145,000

2013 2011 2006 2003

2014 2012 2007 2004

2015 2013 2008 2005

2014 2009 ‘15 TO

2015 2010

‘15 TO

$10000 $9000 $7500 $6000

$15000 $11000 $9000

$13000 $11000

$7500

$20000 $15000

TIER “C” MILEAGE GUIDELINESUP TO 115% OF KBB WHOLESALE (MAX)

36 30 24< 80,000 > 125,000 = 145,000

2011 2006 2003

2012 2007 2004

2013 2008 2005

2014 2009 ‘15 TO

2015 2010-2015

$9000 $7500 $6000

$11000 $9000 $7500

TRUCK AND SUV MILEAGE GUIDELINESUP TO 115% OF KBB WHOLESALE (MAX)

60 48 36< 80,000 > 125,000 = 145,000

2006 2006 2003

2007 2007 2004

2008 2008 2005

2009 2009 2007-2015

2010-2015 2010-2015

$11000 $11000 $9000

$15000 $13000 $11000

$20000 $15000 $13000$15000 $13000 $11000

*DOWN PAYMENT PERCENTAGE IS BASED ON SALES PRICE, TRADE VALUE

OR REBATE OKAY. MINIMUM $500 FROM THE CUSTOMER.

Multiplied by Advance, plus down payment plus back end.

CUSTOMER CATEGORIES

CAR TIERS

• DTI=50% PTI= 20%• 10% MINIMUM DOWN PAYMENT• RESIDENCE TIME: 1 year• JOB TIME: 1 year• OR• COMBINATION 3 YEARS EITHER IN JOB OR

RESIDENCY TIME.• NO MORE THAN TWO JOBS OR RESIDENCES

IN 3 YEARS.• SAME JOB INDUSTRY CONSIDERED.• TIME ON BUREAU 5 YEARS MINIMUM• TIME IN AREA (no gaps): 4-5 years• NO JOB OR RESIDENCE GAPS TWO YEARS

MINIMUM.• COLATTERAL CONSIDERATION ON TIER

APPROVAL.• PREVIOUS PAID AUTO CREDIT.• MIMIMUM RESIDENCE $500• NO LIVE WITH SCENERIO’S• NO MULIPLE REPOSSESSIONS

• DTI=45% PTI=18%• 15% MINIMUM DOWN• RESIDENCE TIME: 6 -12months• JOB TIME:6-12 months• OR• COMBINATION 2 YEARS EITHER IN JOB OR

RESIDENCY TIME• NO MORE THAN THREE JOBS OR RESIDENCES

IN 2 YEARS.• TIME ON BUREAU 3 YEARS.• TIME IN AREA (NO GAPS): 2-3 YEARS• NO JOB OR RESIDENCE GAPS 1 YEAR MIN-

IMUM.• COLATTERAL CONSIDERATION ON TIER

APPROVAL.• TRADE LINE $5000 MINIMUM CURRENT OR

PAID TWO YEARS OLD OR NEWER.• LIVE WITH SCENERIOS CONSIDERED WITH

RENTAL AGREEMENT.• MULTIPLE REPO’S CONSIDERED OVER ONE

YEAR OLD OR IN DISCHARGED BK

• DTI=40% PTI=15%• 20% MINIMUM DOWN• RESIDENCE TIME: RECENT MOVE IN’S TO 2

YEAR OK.• JOB TIME: RECENT HIRE WITH VALID JOB

LETER TO 1 YEAR.• TIME ON BUREAU: 1YEAR• TIME IN AREA 6 MONTHS TO 2 YEARS• COLATTERAL CONSIDERATION ON TIER

APPROVAL.• 3 GOOD TRADE LINES MINIMUM $500 CUR-

RENT OR PAID.• MULTIPLE BK’S OK MUST BE DISHARGED

CAT-1 CAT-2 CAT-3

Cust Car ADV APR DISC D.P DTI PTI1 A 125% 21.99% 10% 10% 50 20

2 A 125% 24.99% 15% 15% 45 18

3 A 125% 28.99% 20% 20% 40 15

1 B 120% 21.99% 10% 10% 50 20

2 B 120% 24.99% 15% 15% 45 18

3 B 120% 28.99% 20% 20% 40 15

1 C 115% 21.99% 10% 10% 50 20

2 C 115% 24.99% 15% 15% 45 18

3 C 115% 28.99% 20% 20% 40 15

SCORING TABLE

TIER “A”

125% MAX ADVANCETOYOTA-CARS / HONDA-CARS / TOYOTA (TRUCKS/SUV) V-6 / HONDA (TRUCKS / SUV) V-6 LEXUS V-6 / ACURA / INFINITY / SCION

TIER “B”

120% MAX ADVANCEMAZDA / MITSUBISHI / HYUNDAI / NISSAN / TOYOTA V-8 / HONDA V-8 / KIA / BMW INFINITI / DOMSTESTIC TRUCKS V-6 / LEXUS V-8 / SUBARU / VOLKSWAGEN / VOLVO / AUDI

TIER “C”

115% MAX ADVANCEALL DOMESTIC VEHICLES / SUZUKI / ALL DOMESTIC SUV AND TRUCK W/V–7 & V-8 / JEEP V–6 & V-8 / MERCEDES / PONTIAC

INELIGIBLE VEHICLES

SATURN / SAAB / JAGUAR / LANDROVER / PORSCHE / HUMMER


UTAH FUNDING GUIDELINES

DEALER STRUCTURE:

• Maximum Check to Dealer: (TIER A: 125%), (TIER B: 120%), (TIER C: 115%) of adjusted Kelly wholesale book for all Tier “A” vehicles, see Auto structure Guidelines for current valid auto makes.

• Maximum Unpaid Balance: Tier “A” = $20,000• Minimum Unpaid Balance: $5,000• Minimum KBB value $4000• Down Payment: 10-15-20% of sales price.

• Down Payment percentage is based on sales price, trade value or rebate okay. Minimum $500 from the customer.• APR’s: 21.99, 24.99, and 28.99 APR-simple interest contracts only.

• CAT-1: 21.99% CAT-2: 24.99% CAT-3: 28.99%• Vehicles:

• Under 80k miles, <5 years and under $20,000, ok up to 60 months (with OAC approval)• Greater than 80k miles, <7 years and under $15,000, ok up to 48 months (with OAC approval)• Greater than 105k miles, <9 years and under $9,000, ok up to 42 months (with OAC approval)• MAX MILEAGE 145k miles and under $7,500, ok up to 36 months (TIERS A&B): ok up to 24mo TIER C and under $7,500

• Mileage: Double the Deduct value for KBB mileage greater than or equal to <$1500> for correct wholesale value.•

$9000. MAX TERM ALL TIERS 60MOS.**

• Recourse – 1 Payment on all contracts; dealer responsible for repossession. OAC will assist dealer in Repo Process.• ***(Exceptions made based on vehicle and customer)

• FIRST PAYMENT MUST BE MADE BY CUSTOMER (NO DEALER PARTICIPATION) IF FIRST PAYMENT MADE BY OTHER THAN BUYER, CONTRACT IS VOIDED

CUSTOMER STIPULATIONS TO APPROVE AND FUND CONTRACTS

• All employment must verified.• All customers must provide valid current proof of income** and residence, including current phone bill (all pages), and full coverage insur-

ance with Octant Auto Credit as the lien holder. All documentation must be within 30 days of date on contract before funding.•

Credit . • ****OFAC and Red Flag Compliance Copies: (Dates must match Inquiry):

• itles and true mileage only.

ALL NON-USPS SENT TO:

OCTANT AUTO CREDIT3350 S 2940 E #91230SALT LAKE CITY, UT 84109

ALL USPS SENT TO:

OCTANT AUTO CREDITPO BOX 91230SALT LAKE CITY, UT 84109

HOURS OF BUSINESS

M–F 6 – 8..................................... PM MSTSAT 5 – 8..................................... PM MST

CONTACT

3264-458-888 TROPPUS REMOTSUCPATRICK SHEEHAN 801–694–3135FAX (All OAC Deal Apps) 801-606-7400


Dealership Name: _______________________________________________________________________________________ Address: ____________________________________________________________________________________________________

Corporate Name: _______________________________________________________________________________________ City: _________________________________________________ State: _________________ Zip: ___________________________

Phone #: ( ) _________________________________________ Fax #: __________________________ Finance Manager: _______________________________________________________________________________________________

How long in Business at this address: _______________________ as a Individual Partnership Corporation

Formerly Located at: ___________________________________________________________________________________________________________________________________________________________________________________________________

Business Background: _________________________________________________________________________________________________________________________________________________________________________________________________

DEALER APPLICATION

FULL NAME:

FINANCE CO. YOU ARE / HAVE DEALT WITH:

AGE:

ADDRESS, CONTACT NAME, PHONE NUMBER

OFFICE TITLE (IF ANY): PERSONAL WORTH: (outside business)

AT PRESENT:

ENGAGED IN WHAT OTHER BUSINESS:

FORMERLY:

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NEW DEALER REQUIREMENTS1. Dealer Inventory List2. Copy of Dealer Bond

4. Copy of Business or City License5. Copy Sales Tax Permit6. Copy of DMV License7. Fictitious Name Filing

OFFICE USE ONLY - DO NOT WRITE IN THIS SECTIONWhat Company holds your Dealer Bond? _________________________

Bond or Agent Phone Number: ___________________________________

Flooring Agency of Dealer’s Inventory: ____________________________

Contact Person: ___________________________________________________

Phone Number: ___________________________________________________

Number of Cars Retailed Monthly: ________________________________

CBI ____________________________________Program ______________________________Vesting ________________________________Sales Rep Area ________________________T/S-VRC ________________________________Fax/Answer to Rep _____________________

Approved By ________________________________________Date ________________________________________MDA’s Sent ________________________________________


PRINT NAME: LAST__________________________________FIRST_________________________________MIDDLE__________ D.O.B.______/_______/________ D/L#:______________________ S/S/N:________--_________--_________________

SPOUSE NAME_____________________________________________________________________________AGE___________ D/L#____________________________ S/S/N:________--_________--__________________

HOME ADDRESS___________________________________________________________________________CITY______________________________________________STATE__________ZIP_______________HOME #:_____________________________

RENT OR BUYING OR OWN HOME:_________________________________ LANDLORD or MORTGAGE HOLDER________________________________________________ BALANCE:_______________________________________________

MORTGAGE VALUE:___________________________________________________PAY PER MONTH $_____________________________________

PREVIOUS ADDRESS:__________________________________________________________________________________________________________________________________________________________________________________________________

PARENTS______________________________________________________________ADDRESS______________________________________________________________CITY__________________________________STATE________ZIP________________

RELATIVE REFERENCE________________________________________________ADDRESS______________________________________________________________ CITY__________________________________STATE________ZIP________________

I DECLARE THAT THE INFORMATION GIVEN IS CORECT AND AUTHORIZE “OCTANT AUTO CREDIT“ TO GATHER CREDIT INFORMATION IT CONSIDERS NECESSARY TO PURCHASE CONTRACTS

SIGNED________________________________________________________________DATE____________________________________________________

PRINT NAME: LAST__________________________________FIRST_________________________________MIDDLE__________ D.O.B.______/_______/________ D/L#:______________________ S/S/N:________--_________--_________________

SPOUSE NAME_____________________________________________________________________________AGE___________ D/L#____________________________ S/S/N:________--_________--__________________

HOME ADDRESS___________________________________________________________________________CITY______________________________________________STATE__________ZIP_______________HOME #:_____________________________

RENT OR BUYING OR OWN HOME:_________________________________ LANDLORD or MORTGAGE HOLDER________________________________________________ BALANCE:_______________________________________________

MORTGAGE VALUE:___________________________________________________PAY PER MONTH $_____________________________________

PREVIOUS ADDRESS:__________________________________________________________________________________________________________________________________________________________________________________________________

PARENTS______________________________________________________________ADDRESS______________________________________________________________CITY__________________________________STATE________ZIP________________

RELATIVE REFERENCE________________________________________________ADDRESS______________________________________________________________ CITY__________________________________STATE________ZIP________________

I DECLARE THAT THE INFORMATION GIVEN IS CORECT AND AUTHORIZE “OCTANT AUTO CREDIT“ TO GATHER CREDIT INFORMATION IT CONSIDERS NECESSARY TO PURCHASE CONTRACTS

SIGNED________________________________________________________________DATE____________________________________________________

ADDITIONAL PARTNERS & OWNERS


“WE TURN YOUR TURN DOWNS INTO CASH”… WITH ......Octant Auto Credit is a privately held...

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