Just call your prior financing company a week or two before applying somewhere else to give them time to send you something. A recourse dealer is a dealer who is held responsible if a deal goes in default. The maker will look to them to remarket the van and make the maker “whole”.

To get a dealer that’s on recourse simply ask the sales representative. A dealer that is on recourse will be more willing to sign off on an application when sales are down. Write up a rationalization of why it happened with any supporting paperwork. We had a client with a foreclosure on his credit agency. Not a good thing to have when making an application for credit. Turns out his ex got the house in the divorce. The court ordered her to make the commercial loans which naturally she didn’t leading to his credit problem. When we got the rationale it turned it around for us and we authorized him. Bankruptcies due to doctor’s bills are another example of a good reason.

For more information please quote “commercial loans” lvk