Drive Rite Capital - Equity Shares Available
Drive Rite Capital is a finance company designed to manage and own pre-owned car dealerships with in-house financing is offering equity shares.
This is an opportunity to invest and take an ownership interest in the pre-owned car sales and finance business.
Drive Rite Capital is offering equity shares in our pre-owned car and finance company where we provide vehicles and financing to credit-compromised individuals. We work with or take an ownership interest in a dealership to provide the proper training needed to sell and finance the cars that we supply.
Drive Rite Capital targets customers who, for whatever reason, have had a financial setback but require a reliable, good-looking automobile for their day-to-day needs. Each customer must have strong ties to the area and be able to contribute a reasonable down-payment towards the purchase of the vehicle providing proof of employment. Substantial business will be generated through the purchase of on-line applications from a defined customer base on a monthly basis reaching out to leads who have already expressed interest. On-line applications of this type have an extremely high conversion rate. The dealership will also utilize Facebook Marketplace and other online portals to generate interest.
Drive Rite Capital does not focus on credit scores. We understand that people experience setbacks. Hospitalization, sickness, divorce or employment downsizing are a few examples that can adversely affect credit. We concentrate on employment income, proof of residency and adequate down payment as a stipulation for credit approval. Customers can be pre-approved for credit within minutes after demonstrating these qualifying indicators. The goal is to set a monthly budget for that customer to qualify for a vehicle in whatever class of car they feel most comfortable.
Typically, our target customers qualify in the $10,000 to $15,000 range able to pick any available in-stock vehicle that falls within their qualifying range.
The Used Car Industry
- The used car business is booming and not slowing down
- The used car industry is valued at $118 billion and growing
- Investment ROI 11-13%
- We are looking at acquiring a dealership with real estate and in talks with another with real estate to purchase
- Investment is secured by a title on each car
Equity Shares are Available
This is a multifaceted opportunity for equity partnership.
We are seeking to construct a financing pool in the $3 to $5 million range. This pool of money will be used to purchase vehicles that will be sold to our customer base. Return on investment for this portion is estimated in the 11-13% range, based on loan to the customer. The investment is collateralized through the purchase of the vehicle, which can be re-sold in event of default. In fact, there is a minimal default rate based on the specific criteria utilized in vetting customers. We know what our customers can and can’t afford thereby removing those who don’t pass our underwriting criteria. We specifically target customers who have had a financial setback but are seeking to rebuild their credit.
We are also partnering with dealers, starting in the Mid-Atlantic and Southeast Regions, taking a management or ownership interest in their businesses(including real estate assets) . For this, we are seeking an additional $5 million and are offering equity shares in $100,000 increments. We add value to our dealer network by offering in-house financing to customers seeking to rebuild their credit. Cars for this customer base are typically in the $10,000 to $15,000 range making monthly payments affordable. We will also consider dealership buy-outs to target lucrative and heavily populated areas.
The pre-owned car business is thriving due to computer chip and production shortages of new cars. This trend is predicted to continue over the next several years allowing for the opportunity to diversify one’s portfolio.
Equity partners can earn a return on financing and on pre-owned vehicles sold.
Request more information today!