Automotive Banking Solutions - absnyc.com - Automotivebankingsolutions.com They claim the will provide more Lenders for Auto, Boat, Powersport and RV Dealers through their Sub-Prime Bank Portal System. That they provide a help desk and underwritting for dealer assistance. Poughquay, New York
Automotive Banking Solutions aka absnyc.com/automotivebakingsolutions.com-They claim to assist Automotive Dealers in obtaing more lenders for the Auto Dealers Finance Departments for a low enrollment fee of $595.00. They will produce the same lenders to the dealer that charge high fees ranging from 28-32% of the dealers deal structure. The submission process is not what they tell dealers and their help desk consist of one or two people. There are approximately 250 dealers enrolled in this system nationwide. Approximatley 93% of these dealers have not seen the first deal get bought and funded (8 months since the start of this Banking Program). Now they are telling dealers they will provide Virtual F&I to dealers (VFI) if they are not having sucess with the Automotive Banking Solution Bank Portal System. For a cost of $100.00 per month and $189.00 per funded deal they will to their F&I process from start to finish. Automotive Banking Solution makes all the right promises and except all enrollments fees and produces very little for these dealers investments.
They have not paid past due commissions to agents and agencies through the program's start. They constantly switch in mid stream never staying focus on the task at hand. We have dealers complaints that Automotive Banking Solution is now charging dealers credit card accounts with false charges for duties not performed. The charges are in the amount of $40-$100.00 per to stay underneath the dealers accounting radar. When we tried to questions these charges with Automotive Banking Solution they will not answer their phone nor return emails or messages left.
If you ask them for client referals they produce people that are working in dealerships that are on the Automotive Banking Solution payroll. It is has been nothing but nightmares for 93% of the current auto dealers involved.
There are companies out there that can produce this type of service for Automotive Dealers. Automotive Banking Solutions currently is not one of them. Auto Dealer Beware!!!