FAQsFor Financial Institutions
1. How long is the decisioning process on an auto loan?
Through our online application submission tool, AppLine™, the response can be instantaneous.
2. Is there a participating auto dealer in my area?
• Please access our Dealer Locator feature to determine if there is a dealer in your area.
• If you would like more information about Aimbridge®, please contact us.
3. Can Aimbridge provide me with information management tools to manage my indirect lending portfolio?
The Bridgepoint™ suite of reporting tools is designed for just this purpose;
• Providing in-depth information to assist lenders in managing risk and maximizing program performance.
• Offering concise report organization and structure for credit unions and providing detailed saction reports, summary/trending reports and executive steering reports on applications, funding and staff management.
• Allowing you to track your portfolio by credit quality or by dealership, helping you understand and manage your portfolio.
4. What are the benefits of using a third party processor to manage my loan services?
• Lenders can welcome new customers or members directly at the dealership. Once on board, the lender has numerous opportunities to deepen the relationship through other product cross-sells.
• Aimbridge has over 12 years experience in managing indirect lending programs. We offer a range of products and services beyond the basics of indirect lending. We have created the most efficient, easy to use tools to drive preference for Aimbridge lenders at the dealership.
5. What does Indirect Lending mean?
Indirect lending is the practice of originating auto loans at the dealership as opposed to a borrower having to procure the loan at a branch. The value to your member/customer is convenience.
6. Isn’t Indirect Lending financially risky for lenders?
The lender determines the credit criteria and has complete control of the loan approval process.
7. What are the benefits of working with Aimbridge�?�® instead of managing my indirect auto loans in-house?
Aimbridge provides expertise and ease of use, allowing the lender to focus on their core competencies and letting Aimbridge to do what we do best – originate loans that, based on a lender’s criteria, can provide maximum yield within an acceptable range of risk.
For Dealers
1. Is the Aimbridge system available in my area?
Aimbridge is currently in the following markets;
• Colorado
• Florida
• Georgia
• Illinois
• Maryland
• Michigan
• Missouri
• Ohio
• Texas
• Virginia
If you would like to speak with a representative from Aimbridge, please contact us.
2. What are the benefits of joining the Aimbridge Indirect Lending program?
• Our lenders are predominantly local financial institutions that excel in providing customer service.
• A lender working with Aimbridge has access to technology tools and services that provide for accurate and quick loan decisioning.
3. How long is the decisioning process on an auto loan?
Through our online application submission tool, AppLine™, the response can be nearly instantaneous.
4. Can non-franchise dealers partner with Aimbridge?
Whether or not non-franchise dealers can participate depends on the local market. If you are interested, please contact us.
5. How do I sign up to work with Aimbridge?
If you are interested in Aimbridge, we would like to talk to you about the opportunities and what our plans are for your market, please contact us and a business manager will be in touch.
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