{"id":31195,"date":"2026-06-11T22:06:45","date_gmt":"2026-06-11T22:06:45","guid":{"rendered":"https:\/\/www.ordealers.net\/?p=31195"},"modified":"2026-06-11T22:11:18","modified_gmt":"2026-06-11T22:11:18","slug":"important-announcement-regarding-local-lending-guidelines-that-may","status":"publish","type":"post","link":"https:\/\/www.ordealers.net\/?p=31195","title":{"rendered":"Important Announcement … Local Lending Verbiage that May Impact You, Your Customers, Your Livelihood and OUR Industry!"},"content":{"rendered":"\n

Attention ALL dealers \u2026 UPDATE on lending verbiage for local credit union!!!<\/p>\n\n\n\n

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It has been brought to the attention of the Oregon Vehicle Dealer Association by many of our fellow car dealers in the industry regarding a misunderstanding relating to verbiage in lender documentation; so we would like to share with everyone in hopes of preventing additional future misunderstandings that may or could possibly arise.<\/p>\n\n\n\n

Local credit unions and financing entities have stipulations in place that must be followed in order to maintain positive relationships between everyone involved.  This includes our lenders that we depend on as well as our consumers and the industry that we all live and thrive within.  One stipulation listed under \u201cIneligible Units\u201d according to local credit union, Oregon Community Credit Union; reads as follows;<\/p>\n\n\n\n

BEGIN QUOTE<\/em><\/p>\n\n\n\n

\u201cIneligible Units:<\/em><\/p>\n\n\n\n

Prohibited: Commercial configurations, non-owner occupied (fleet\/rental) or non-standard vehicles.\u201d<\/em><\/p>\n\n\n\n

END QUOTE<\/em><\/p>\n\n\n\n

Under this stipulation the words \u201cCommercial configurations\u201d is interpreted as ANYTHING that has a flat bed.  For example a farm vehicle with a flatbed used to move feed is considered to be of \u201ccommercial configuration\u201d and therefor this vehicle would be ineligible under this stipulation for consumer financing.  Or another example would be a Ford F150 pickup that the bed has been removed from and replaced with a flatbed for the purpose\/convenience of towing with a gooseneck mechanism where flatbeds are often preferred for ease of use.  These are ONLY examples and this announcement is to inform ALL dealers that ANYTHING with a flat bed is considered to be an \u201cIneligible unit\u201d under some financial institutions consumer lending standards.<\/p>\n\n\n\n

If you have further questions regarding to a specific lenders rules, expectations, or lending standards please reach out to them individually with questions, comments or concerns.<\/p>\n\n\n\n

If you would like to speak to a member of the Oregon Vehicle Dealer Association in regards to this matter please reach out through any contact form listed below.  We look forward to hearing from you and as always thank you for allowing the Oregon Vehicle Dealer Association to represent you and your business through advocacy, trust and leadership! Our main goal is working with the DMV, ODOT, and the legislature to ensure that our industry remains healthy and profitable for the future of our entire industry!<\/p>\n\n\n\n

Thank you!<\/p>\n\n\n\n

This is an announcement made for informational purposes ONLY not for any form of financial or political gain by any parties.<\/p>\n\n\n\n

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<\/p>\n","protected":false},"excerpt":{"rendered":"

Attention ALL dealers \u2026 UPDATE on lending verbiage for local credit union!!! It has been brought to the attention of the Oregon Vehicle Dealer Association by many of our fellow car dealers in the industry regarding a misunderstanding relating to verbiage in lender documentation; so we would like to share with everyone in hopes of preventing additional future misunderstandings that may or could possibly arise. Local credit unions and financing entities have stipulations in place that must be followed in order to maintain positive relationships between everyone involved.  This includes our lenders that we depend on as well as our… <\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64],"tags":[],"class_list":["post-31195","post","type-post","status-publish","format-standard","hentry","category-news"],"mb":[],"mfb_rest_fields":["title"],"_links":{"self":[{"href":"https:\/\/www.ordealers.net\/index.php?rest_route=\/wp\/v2\/posts\/31195","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ordealers.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ordealers.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ordealers.net\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ordealers.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31195"}],"version-history":[{"count":2,"href":"https:\/\/www.ordealers.net\/index.php?rest_route=\/wp\/v2\/posts\/31195\/revisions"}],"predecessor-version":[{"id":31200,"href":"https:\/\/www.ordealers.net\/index.php?rest_route=\/wp\/v2\/posts\/31195\/revisions\/31200"}],"wp:attachment":[{"href":"https:\/\/www.ordealers.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ordealers.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ordealers.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}