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Who Are the Primaries of This Business?
Bill Thompson is the owner, manager and CEO of the companies. David Harris is the COO of the companies and is responsible for the "Internet Presence" of the business with both BuyCarNotes.com and InvestInCarNotes.com.
How Long Have You Been in Business?
The parent company, Triple T Motors, has been in business since January 2004. From this parent company, we have been offering car notes to local investors (Oklahoma City) for over 5 years. Our "Internet presence", BuyCarNotes.com and InvestInCarNotes.com have been in business since September of 2009 and December of 2009 respectively.
Is Your Company Registered With the Better Business Bureau?
Yes, Triple T Motors is as well as our other 2 websites. Please see the following on our BBB Reliability Report - "Additional DBA Names: Buycarnotes.com, Investincarnotes.com". The accreditation is new (as of February 26th 2010), but the BBB history dates back 36 months with 0 complaints. If there had been any complaints on Triple T Motors, InvestInCarNotes.com or BuyCarNotes.com, they would surely show up in the listings and we would likely not have an "A" rating either. The following is straight off of our BBB Reliability Report profile page: "BBB processed a total of 0 complaints about this company in the last 36 months, our standard reporting period".
Here's a direct link to our "BBB Reliability Report for Triple T Motors, LLC".
Why Do You Need or Use 2 Different Websites?
The first website, BuyCarNotes.com, was built to test the marketability of selling our car notes on the Internet. InvestInCarNotes.com was built to allow us another venue of tracking our paid advertising initiative. As we are the first and only company (as of February 26th 2010 & to the best of our knowledge) to sell car notes to private investors on the Internet,
it has been a matter of substantial trial and error to get where we are now. Having 2 websites has made this endeavor easier. Both websites are virtually identical. The offer and guarantee is the same regardless of which website you use to invest with us. We apologize in advance if having 2 identical websites has caused you any problems or issues.
How Are You Able To Pay Such a High Return of 17.64% APY?
We certainly understand the skepticism and how much this high rate of return looks "Too Good to Be True", but it's definitely not. First of all, the car notes are bringing in 21% APY right off the bat as that's what the customer is paying us yearly. You are simply getting the majority (exactly 84%) of what we get ourselves. The bulk of our profit comes from the sale of the cars (markup profit), not from the interest income.
What Happens If A Car Note Defaults?
Your investment in our car notes are 100% guaranteed. We promptly replace any note that defaults (goes bad for non-payment) with a good, paying car note. You will continue to receive the full monthly payments as you always have with no gaps. You will receive notice that a given note defaulted and the details and documentation on the new car note that replaced it. As far as the investor's (note buyer's) monthly payments are concerned, it's as if nothing happened.
How Are You Able To Replace Default Notes So Easily?
A large surplus of car notes are held back to replace any notes which become delinquent. The defaulted note vehicles are simply repossessed thus securing the delinquent note, refurbished and resold creating another car note that will be sold at a later time.
What's The Default Rate Of The Typical Car Note?
The default rate that our network experiences is anywhere from 8% to 15% per year. This is far less than most suspect and is more than managable for us.
Why Isn't Anyone Else Selling Car Notes On-line?
This is one we have wondered about ourselves. It just makes good business sense to cut out the greedy middle-men banks and deal directly with the public. This gives both sides a far better deal. This is truely a win-win for all involved.
How Many Note Car Dealers Are In Your Network?
Right now we have over 20 car dealers in our Note Car Dealers Network. This gives us access to millions of dollars worth of notes. Many more dealers are pending our application and approval process to be included into our Note Car Dealers Network. InvestInCarNotes.com takes ownership of all notes before they are sold to the end private investor, thus allowing us full control and the ability to guarantee EVERY note!
More Coming Soon...
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