We buy auto paper, buy here pay here notes. Sell your buy here pay here auto notes, buy here pay here auto paper wanted

Are you thinking about selling some of your auto paper, buy here pay here notes? But you think you'll wait till next year. If you sell your notes at a discount, the IRS allows you to book a loss for the difference between the full contract and the discounted contract. So rather than pay taxes on money you haven't collected yet and won't for several months to come. Consider selling your notes and getting cash you can use today, to buy inventory for income tax season and get a potential write off.

When the vehicle is sold, and it is determined that the customer needs special credit assistance, the dealership writes the note at term (high interest rate) with recourse to the RFC. The note is sold at a significant discount to the RFC substantiating the discount by citing high risk. The dealership books a current and deducted loss for the difference between the full contract and the discounted contract. The RFC accrues income as it becomes earned, subject to IRC section 162 deductions. RFC= Related Finance Company

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