If you are interested in selling us automotive retail installment contracts (aka "car loans") please fill out our Contact Form below with your business information and we will contact you as soon as possible.
MIF's automotive retail installment contract (RIC) Purchase requirements change from time to time.
If you would like to sell us automotive retail installment contracts ("RIC") please call 415-992-5096. In addition, please fax us the actual contracts and obligors' credit applications at 415-354-3471 and we will price them for you within 1 to 2 business days.
- Minimum income: $1,600/month
- No alimony or child support payments may be counted towards income
- Income must be verifiable by a pay stub – no self-employed, independent contractors
- Obligor must be over the age of 25-years
- FICO score of 500+
- Monthly after tax income: payment = 4:1 or better
- Vehicle must be under 120,000 miles at time of sale
- Vehicle must be for purchaser and not for a third party
- No vehicles for hire such as taxis & limousines
- No commercial vehicles
- No salvage or branded titles
- No unknown mileage or mileage-exempt vehicles
- GPS/SID Device Must Be Installed
- Each RIC is priced individually by our formula
- MIF generally requires between 1 and 3 payments' recourse from the Dealer
- Obligor must pay 15% of the purchase price in a cash down payment
- Send us data about your contracts by fax, or email
- A MIF representative will call you to discuss pricing
- MIF will perform due diligence
- We close and issue payment
- MIF Monthly Returns - 2009
- MIF Earnings 2009 - 2010