Dealers want an easy way to deliver a great vehicle to any customer, regardless of their credit history. Adding a leasing option gives dealers the flexibility to deliver these cars with shorter terms and attractive payments. Dealers using our leasing program benefit from efficient funding, competitive advances and the opportunity to re-sell returning lease customers. Keep your customers happy and develop a reputation for offering great cars with shorter terms. Most importantly, keep your customers coming back to YOUR dealership! Learn more about our program benefits below.
Founded by Don Foss
Our advanced online system allows you to price a lease in seconds, and track the progress of that lease through the funding process.
Our competitive advance program (coupled with customer down payment) typically allows dealers to realize healthy profit at lease delivery.
Customers who lease are expected to return to the originating dealership at lease-end, meaning another sales opportunity for you.
CARite dealers can list vehicles on CARite.com. This allows customers and dealers to easily select and price the right lease for their needs.
Brite Financial and our supporting origination system is already integrated with several industry leading software providers.
Dealers enjoy fast funding with complete and accurate deal packages. Our team is here to support you and serve you.
The full Brite leasing program is available in CARite branded dealerships across the United States. Brite is now also available to some select non-CARite used car dealerships. Brite provides premium used car dealers with an effective, far and competitive way to deliver more vehicles through a great leasing program.Inquire Now
In 2014 , according to Edmunds.com, over 60% percent of auto loans were for terms over 5 years. With Brite our available terms are two to four years. In addition, customers taking delivery of their lease through CARite locations have options to exit their lease early in certain circumstances.
Our system scores the customer and deal structure based on our proprietary risk model.
Our system fully integrates with your inventory management system.
Our system calculates your delivery and potential portfolio profit easily and clearly.
Dealers want an easy way to deliver a great vehicle to their subprime and near-prime customers. Adding a leasing option gives dealers the flexibility to deliver these cars with shorter terms and attractive payments. Dealers using our leasing program benefit from efficient funding, competitive advances and the opportunity to re-sell returning lease customers. Keep your customers happy and develop a reputation for offering great cars with shorter terms.
Dealers use our CARS system to find the right lease for their customers. The system allows dealers to easily provide customer information, select an available vehicle, and adjust lease terms. Based on the information provided, the system automatically calculates how much money the dealer makes at delivery.
Brite pays you an advance up-front. This, coupled with monies received from the customer, is typically enough to make a competitive delivery profit. The advance is calculated based on the risk profile of the customer, the vehicle selected, and the structure of the actual lease (term, down payment, etc).
Every lease you deliver goes into a pool. As Brite collects on each lease in this pool, 80% of collections (less any applicable fees) pays back your advance. When the balance of the pool is fully paid off, 80% of all remaining eligible collections are then payable to the dealer as 'portfolio profit'.
Making it easy isn't just about our systems, it's about our underwriting criteria and polices as well.
Stable income is always preferred. However, our program allows for fixed income and unemployment income. Our minimum job time is just enough to get at least one pay stub.
Your Brite leasing customers can have bad credit or no credit. We accept first-time buyers and we can work with bankruptcy chapter 7 and bankruptcy chapter 13.
Your customers can be self-employed, working in a temporary employment situation, or in a standard W-2 position. As you might expect, we value stable employment.
We can work through situations where customers have multiple repossessions and/or multiple open vehicle loans or leases on their credit reports.