Opportunities to Close

According to Statistics Canada, consumer bankruptcies and proposals increased by 22% in Ontario for the 12-month period from June 2023 to June 2024. In Quebec as well, this statistic increased by 21%. Economists are projecting this to increase significantly more in the coming months. Having a network of lenders available for your subprime financing options has never been greater. Access to lenders with a variety of financing programs to fit all types of credit files gives dealers a greater chance of closing sale opportunities..

Increasing Profits

Subprime or credit challenged applicants are an excellent referral generator. These applications will generate low cost, economical leads to help you increase your closing ratios and profits. OCM pays a $600 reserve on every file regardless of credit tier approval or amount financed.

Continued Growth

OCM is thrilled to announce our fourth record-breaking month in a row for loan originations in 2024. We continue to offer unique programs and finance options that help us surpass projections and experience accelerated growth.

Interest Rate Cuts

As expected, the Bank of Canada announced a quarter percent reduction to the prime interest rate on September 4, 2024. We are closely monitoring the next rate announcement on October 23rd. OCM is continuously reviewing its programs, policies and procedures and will post an updated program on Dealertrack as soon as it becomes available.