Replies to This Discussion

Permalink Reply by E. Dwight Cope on September 26, 2008 at 11:34am

Recourse lending has been around for a long time with the special finance companies. It is a way of purifying the contracts, generally it is one to four months recourse. We have been requiring recourse for over forty years

Permalink Reply by Marcie Belles on September 26, 2008 at 11:41am

I hear you, Dwight. Maybe I should post the discussion in the Indirect Lending Group, then, because it seems like maybe some prime lenders are dipping their toes into the recourse-lending arena.

Permalink Reply by Curtis Webster on February 17, 2010 at 9:40am

This type arrangment has been around for years and there are many finance companies that will buy seasoned paper on a non recourse basis.

We are a full recourse commercial leasing company doing business for over 25 years. We borrow our money from banks and relend to primarly A credit customers. There are many advantages to our business and of course the big disadvantage of recourse lending is you are on full recourse. It sounds very scary to most car dealers but to us it is a wonderful way to do business.