How does FILO vet dealerships?

At FILO, we thoroughly vet our dealer partners to ensure they are a good fit for our program. Dealers must sign an agreement that provides comprehensive representations and warranties regarding the vehicles, the borrowers, and applicable state and federal regulations. In the event representations and warranties are violated, there is a repurchase clause in the contract. In addition, FILO provides comprehensive representation and warranties regarding the retail installment contracts on behalf of their financial partners.

For independent dealers, we take additional steps, including vetting two years of financials, auditing the condition of the vehicles on the lot, and getting a written contract to ensure they will buy back the contract in the event of term violations.