George Arison

Well, actually, I'm happy to pay a high interest rate, but I want a lower down payment or I want a high down payment, low interest rate.

So you can kind of manage that yourself.

I'll come back to that in a second.

Just let me finish.

And then we then once we know that you want to buy, we'll go out to our banks and say, hey, which of these banks can finance this loan?

And now we know enough about which banks finance what kind of loans to kind of go to the right banks.

And then they come back with the actual loan product, which will generally match what we told you in advance.

That's called pre-qualification.

Customers actually love it.

Since we launched it about six months ago, people who go through it are twice as likely to buy a car as people who don't, which is really awesome.

When we started Shift, the plan always was to do what is called capital lending, where you actually finance the loans yourself.

then go get debt and securitize and resell.

It varies by the bank, but, you know, it ranges from like 200 bucks on the very loan.

If you have some really amazing credit and very low interest rate to like 700, 800 bucks.

But it's tied to the interest rate and it's tied to how big the loan is and say to the link for the loan, et cetera.

Yeah.

Yeah.

So 65% do financing, but that's actually low compared to a traditional dealer.

A traditional dealer, that number is closer to 80%.

So we're still working on kind of being able to service every type of a customer that we get, right?