Prospective Dealers

Independent Bank has a recognized 20-year history of success in the indirect lending business, including franchise and non-franchise automobile and motorcycle dealerships.  Our team has managed through both prosperous and difficult business cycles and believes strongly in the long-term value of this line of business.  We have successfully opened expansion markets in varying geographic regions and have leveraged improved system and information technologies to manage profitability and credit quality.

We have established dealer relationships across a 10-state footprint, including Alabama, Arkansas, Florida, Georgia, Missouri, Mississippi, Oklahoma, South Carolina, Tennessee, and Texas.  Our loan production centers are located in Memphis, TN and Jacksonville, FL.  Click here to view a map of our active territories.

Program Overview

We offer competitive programs for both automobiles and motorcycles.

Automobiles

  • Rate Cap 2.00% up to 75 months and 1.50% for 76-84 months
  • No “Straw Purchases” – Accounts determined to be straws are subject to Dealer Re-Purchase
  • All Application information is subject to verification prior to funding
  • Collateral value = Invoice (New) or Clean Wholesale BlackBook (Used)
  • No Commercial Use Vehicles
  • Max Mileage 125,000/Collateral may affect the term and mileage allowed
  • Exotics are ineligible
  • 72 mos. Requires a 12k min. invoice / 75 mos. 15k min. invoice / 84 mos. 17,500 min
  • Oldest trade line must be >/= 48 months
  • Advances up to 130%
  • GAP Max Markup $899 (where applicable)
  • Max Backend for Collateral Valued  up to $20k = $3,000, over $20K = $5,000
  • Flat Fees
    • 10k-14.9k = $100
    • 15k-19.9k = $150
    • 20k-24.9k = $200
    • 25k-29.9k = $250
    • >30k    = $300
  • No flats paid on terms < 48 months

Motorcycles

  • Rate Cap 2.00% up to 75 months and 1.50% for 76-84 months
  • 90 days to first Payment 725+ FICO only
  • 72 months requires a 12k minimum MSRP or appropriate retail NADA value; 75-84 months requires a 15k minimum MSRP or appropriate retail NADA value
  • Flat Fees
    • $10k-14.9k = $150
    • $15k-19.9k = $200
    • $20k+ = $250
  • LTV: Based on MSRP or Clean Retail NADA & does not include Service contract or GAP
  • Max Backend for Collateral Valued up to $20k = $3,000, Over $20k = $5,000
  • Insurance verification at time of funding
  • Maximum mileage 50,000
  • Collateral mileage may affect
  • Term Minimum amount to finance: $5,000
  • Buy down option: Dealer may buy down rate up to 2%.
  • $3,500 Minimum Income
  • No Co-Signer Loans
  • Gap Max $899 (No Exceptions)

Contact Us

Are you ready to explore a partnership with Independent Bank?  Click here to send us a message, or access our regional representatives here.