Sterling Credit Corporation offers a number of competitive purchasing programs that are customized to suit your financial needs. Our pricing is clear-cut, the purchasing process is uncomplicated and funding is immediate upon closing.
Our standard bulk purchasing requirements include the following:
- A minimum of 10 accounts submitted for evaluation
- Accounts must have a remaining term of 36 months or less
- Accounts must be aged at least 90 days (excluding pick-up payments)
- No Salvaged Titles
All accounts will be evaluated to rate their overall collateral value.
All customers will be contacted before a portfolio purchase is completed; customers are required to have a working phone number and verifiable employment (SSI is acceptable with proof of income).
Sterling Credit Corporation does offer purchasing programs for receivables with less than 90 days of age. However, an extended recourse or established relationship with Sterling Credit Corporation is usually required for a dealership to be eligible for this consideration.
Required Documentation
Any account information that can be provided in Excel format is preferable. If unavailable, the following document copies are needed in order to evaluate an account:
- Copy of Customerʼs Credit Application
- Copy of Bill of Sale/Buyerʼs Order
- Copy of Retail Installment Sales Contract
- Detailed Payment History
The original documents plus some additional account information/documentation (if available) will be collected at closing.
Once the requested information has been received, a purchase offer will be provided within 24 hours.
Customer Payments
Sterling Credit will accept the following payment methods:
- Bank or Cashierʼs Checks
- Money Orders
- Personal Checks
- Debit/Credit Cards (NO PROCESSING FEE!)
- Automatic Payment Transactions (NO ADDITIONAL CHARGE!)
Upon Dealer request and assistance, Sterling Credit Corporation will allow customers to continue to make payments through the Dealership. We understand the importance of established customer relationships and know that repeat/referral business can be lost once a contract is sold. Allowing continued Dealer involvement will make this partnership as beneficial as possible.
