GAINESVILLE, GA - Black Book announced that its used-vehicle values would be added to Consumer Portfolio Services’ family of subprime lending solutions. CPS is an independent specialty finance company that provides indirect automobile financing to individuals with past credit problems, low incomes, or limited credit histories. CPS is a leader in the subprime arena, currently working with over 7,000 dealers.
Tom Cross, president of Black Book, remarked; “Black Book has been providing timely, independent and accurate vehicle values to franchised and independent car dealers since 1955. Many of these dealers are active in the growing subprime market, which has historically been problematic with regard to obtaining financing for willing customers with less than perfect credit. We are excited to be able to better serve dealers’ needs by including the Black Book values that have been relied on for decades at dealerships and in the auction lanes within the CPS lending solution.”
Charles E. Bradley, Jr., President and CEO of CPS, commented: "We plan to more than double our volume this year and Black Book is a key component in our growth strategy. Allowing the highest value amongst Kelley, NADA, and now Black Book helps our dealer partners build profit and sell more cars and that is what CPS is all about.”