Bump

Also known as a “bounce” or “spread”…

A “bump” is the difference between the interest rate a dealer pays for financing on a loan or a lease (called the Buy Rate) and the rate at which they sell the financing to us (the Sell Rate).

A bump can be as high as an extra 2% – which is thousands in interest more on a loan over the term of the contract. Not good.

The good news is my clients NEVER, EVER get “bumped” on a lease’s interest rate (a.k.a. “Rent Charge“).