Honor Contacts the Dealer

A targeted Chicago area dealer is contacted regarding Honor's financing program and other products related to the sale of a used automobile.

Honor Screens the Dealer

If the targeted dealer is interested in the Company, Honor conducts a complete review of the dealer. The qualified dealers sign an agreement that governs the terms of each contract sale, provide a copy of their dealer license, complete the corporate authorization form, and are evaluated after review including a Dunn and Bradstreet report.

Customer Completes Application

The potential customer completes a credit application at the automobile dealership for the purchase of a selected used car.

Dealer Identifies a Potential Honor Customer

The approved automobile dealer identifies a potential Honor customer and solicits approval from the Company.

Honor Evaluates Application

Honor reviews the credit application and credit bureau data, qualifies the automobile, and confirms employment, residence, income and other customer information.

Honor Interviews Customers

Honor interviews each applicant in order to confirm the customer's credit application, credit history, and current financial status.

Honor Services the Dealer

Honor's office hours coincide with the automobile dealer's hours; consequently, Honor will be able to provide a fast response.

Honor Purchases Automobile Sales Contracts

Honor purchases the automobile sales contract at a discount called a purchasing fee from the dealer. The dealer will be paid after Honor receives and verifies all documentation.

Honor Services Automobile Sale Contract

Honor services each automobile sales contract. Honor receives payments from the customer and monitors and collects each delinquent account. The Company also monitors the performance of the dealers.