Sell Auto Note Compared to Keeping The Auto Note
This is an example
Selling “The Note” – After 90 Days of Payments
A. Dealer cost of vehicle $3,000.00
B. Selling Price of vehicle $6,000.00
C. Down Payment received $1,000.00
Finance remaining balance at 24% for 27 months
D. Collect 3 payments of $241.00 each $ 720.00
E. Principle balance after 90 days $4,697.00
F. Advance at 80% of principal balance $3,758.00
G. Total Cash collected as a result of selling
“The Note” (C+D+F) $5,478.00
“The Note” (C+D+F) $5,478.00
H. Subtract cost of vehicle $3,000.00
I. TOTAL PROFIT AFTER 90 DAYS (G-H) $2,478.00
Keeping “The Note”
A. Dealer cost of vehicle $3,000.00
B. Selling price of vehicle $6,000.00
C. Down payment received $1,000.00
D. Collect 12 payments of $241.00 each $2,892.00
E. Total cash collected after 12 months $3,892.00
F. Subtract cost of vehicle $3,000.00
G. TOTAL PROFIT AFTER 12 MONTHS $ 892.00