Rates and terms at AutoFirst Financial. WARNING!!!! If this was a safe bet, you can be sure Bank of America, Wells Fargo, Citibank, Chase and other banks would lend the money for 10% rather than make home loans around 5%.
The Sept. 27, 2010 SJ Mercury News had an advertisement from "autofirstFINANCIAL" that says
Let your money work for you....
100% guaranteed (not real estate)
10% annual percentage rate
What the advertisement doesn't say is what guarantees the loan you are making to get that very high rate of return. It appears they loan money to auto dealers. It appears you get paid back if the car dealership stays in business and can repay the loan by selling the cars it buys with the money you lend them. In short, it is a small business loan.
"Auto First Financial has earned a reputation for consistently providing quality products and services that meet the complex and unique needs of automotive dealerships . We specialize in automotive flooring for the auto dealer industry we we have a 100% secured loan to the dealer . No where is your money safer "
If you loan money to buy cars, remember that the collateral loses value with time.AutoFirst Financial contact Information
==> " Rates at AutoFirst Financial " as of 9/27/10 Newspaper Ad <==
Autofirst Financial Contact Information
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