FC Funding LLC has purchased retail installment contracts from motor vehicle dealers since 2010, from Chadds Ford in Chester County. We work with dealers, not car shoppers — but the paper we buy is something a household lives with for five or six years, so it is worth stating plainly what is actually in it.
Every one of these is disclosed. Most go unread
Who we are
FC Funding LLC is an indirect auto finance company based on Christy Drive in Chadds Ford, Pennsylvania, operating since 2010. Our business is purchasing retail installment contracts originated by franchised and independent motor vehicle dealers.
"Indirect" is the important word. A buyer signs a contract with the dealership, and the dealership assigns that contract to a finance company like ours. This is why the name on the monthly statement is often not the name on the showroom, and why so many people are unsure who they are actually dealing with.
We are not a bank and we do not sell vehicles. We take no deposits, and we do not decide the price of the car, the value of the trade-in, or which products a dealer offers alongside the sale. Those are the dealer's decisions, made before we ever see the file.
Six years is a long time to live with a decision made in an hour on a Saturday afternoon.
Purchasing dealer paper from Chester County
We purchase paper; dealers sell vehicles
No deposits, no accounts, no branches
Chester County, Philadelphia region
For dealers
Our counterparties are dealerships. Everything below concerns the assignment and servicing of contracts you originate.
Acquiring retail installment contracts on new and used vehicles from franchised and independent dealers.
Applications reviewed against clear criteria, with a decision returned promptly so a deal is not left hanging over a weekend.
Document review and funding once the contract package is complete and consistent — the stage where most delays are avoidable.
Billing, payment processing and customer account administration for the life of each contract we hold.
A point of contact who knows your store rather than a queue, and straight answers on why a structure will or will not work.
Regular reporting on the paper we hold from your store, so patterns are visible while there is still time to act on them.
For buyers
We are not your dealer and we have no say in the sale. But we do end up holding the contract, and we would rather it be one somebody understood. All four of these are disclosed to you in writing before you sign — the difficulty is that they are disclosed at the end of a long day when you already have the keys in mind.
Stretching a contract from 60 to 84 months lowers the monthly figure and raises the total substantially. It also means years of owing more than the vehicle is worth, which becomes a real problem the day it is written off or you need to trade it.
If you still owe more on your trade-in than it is worth, that shortfall does not disappear — it is added to the new amount financed and you pay interest on it. Ask specifically whether any negative equity has been rolled into your new contract, and how much.
Service contracts, gap coverage, protection packages — anything added at the desk is usually rolled into the amount financed and accrues interest at the same rate for the full term. They are optional. Ask the price of each separately and whether the deal stands without them.
A vehicle contract is secured by the vehicle. If payments stop, it can be repossessed, sold, and you may still owe the shortfall between the sale price and the balance. If you are heading for trouble, call the servicer before the payment is missed rather than after — the options are far better beforehand.
How it works
The dealer submits the buyer's application and proposed structure.
Reviewed against our criteria and returned to the dealer promptly.
The signed contract is assigned to us and the package verified.
We bill and service the account for the life of the contract.
FAQ
Get in touch
Dealers can reach us about criteria, decisions and funding. If you hold a contract we service, use the contact details on your statement so your account can be located.