How Wheels and Deals Found the Perfect Partner to Keep Their Showroom Full
In the fast-moving world of buying and selling used cars, speed is everything. For Wheels and Deals, the business follows a very simple cycle where you buy a car, you sell it, and you quickly buy another one to replace it. Because their cars sell so fast, they constantly need fresh stock on their lot. However, as the dealership began to scale up, they hit a major financial roadblock that stopped their momentum. They were running out of ready cash to buy new units, forcing their fast-turning cycle to a sudden halt.
The Struggles of Late Papers and Limited Capital
The trouble did not come from a lack of buyers, but from external operational delays. In the used car industry, a dealer needs the original Official Receipt and Certificate of Registration (OR/CR) from the Land Transportation Office (LTO) to smooth out transactions. However, Wheels and Deals constantly faces delays from the LTO when it comes to printing these original documents. Aside from handling follow-ups from anxious clients, this paperwork bottleneck directly hurts the dealership's cash flow because traditional banks will not release the car loan proceeds without those complete papers.
When bank payouts are delayed, the dealership's capital gets locked up, leaving them short on immediate funds to buy new cars.
"Because there's a delay when it comes to financing proceeds, our buying of cars is limited. So we stopped at that. We have to move, because our units sell quickly. So we need to replenish the units that are gone. It's like a cycle, right? Buy and sell," Arvin Lao, co-owner of Wheels and Deals explains.
Turning to traditional banks to bridge this financial gap only brought more frustration.
Discovering OneLot
Everything changed when they discovered OneLot, a financing platform built exclusively for used car dealers. At first, the team at Wheels and Deals was very hesitant to trust the new system, worrying that the company just wanted to profit off them.
"Through months and years that we've had a relationship with OneLot, they've been very flexible and a big help, to be honest. We were hesitant at first until we studied the numbers. And then we came up with, okay, let's do it. Let's deal with OneLot."
They started with a small test drive run, borrowing the minimum amount possible to see how the system worked. They were pleasantly surprised by how smooth and professional the experience turned out to be. OneLot made the entire documentation and due diligence process short and easy, while keeping the interest rates just right and not too heavy on the business.
How the Partnership Made Business Easier
The additional capital completely changed how Wheels and Deals runs its daily operations and secures fresh stock. Instead of freezing their business while waiting for slow bank proceeds, they used OneLot's flexible funds to immediately buy cars. This capital served as the ultimate fuel for their dealership's growth.
"Paying them, they were very flexible. The interest is just right, not too much. So basically, on our side, we earned with their help. It really grew. Part of the additional capital that we have is being provided." Lao shares.
The partnership effectively expanded their inventory far beyond what their own limited funds could buy, directly boosting their sales volume.
After some time of working together, the relationship has grown into something special. Wheels and Deals no longer sees OneLot as just a basic lending platform, but rather as a sister company that deeply understands the specific needs of local car dealers like them.
"The matrix scheme itself is very accommodating for us dealers. The personnel, their people explain the scheme well, and the process matches the explanation. The payment is easy, and applying again to get another one is madali lang din. Very satisfied talaga. Thumbs up." Lao stated.
