Does Mid-Atlantic want your Notes?

Jul 15, 2021

Why not to sale your notes to Mid-Atlantic in Clear Water Florida.

Phoenix Motors Of Raleigh North Carolina Inc. revealed their new case study today on Selling Car Notes to Mid-Atlantic. This case study demonstrates the strategy that Mid-Atlantic does in order to when bids but still not pay the actual original amount to the Buy Here Pay Here Dealers who they buy notes from.

The case study also made it obvious that other possible companies to sale notes to that will honor all agreements unlike Mid-Atlantic

Phoenix Motors Of Raleigh North Carolina Inc. owner Esco says there are many people looking for insights and answers on how to do business with companies such as Mid-Atlantic when selling car notes. This case study reveals in a practical way what’s possible with the right information and guidance.

The case study is available at and if you want more information you can reach Esco on the Buy Here Pay Here GROUP chat board. He is always up for impowering other dealers with information.

Now About Phoenix Motors Of Raleigh North Carolina Inc. & Esco.

Phoenix Motors Of Raleigh North Carolina Inc. was founded in 2017 and serves the BUY HERE PAY HERE car community. Esco, however has been in the self finance arena for 20 plus years. The business model he had was to open a location and create its standard operation procedures along with the infrastructure in regards to software and vendors. He would then sale that system to the potential new car dealer. Esco has set up 21 of these car dealerships. Phoenix Motors of Raleigh North Carolina Inc is a personal one to him. The plan for that location is to hand it off to his children when and if they are ready to enter the business. Esco said he hopes they enjoys it as much as he has.

Lets us reveal the case study that Esco did on Mid-Atlantic.


The documentation was very standard as to what needed to be provided. You will have to provide the retail contracts, Bill of Sales, pay history, GPS disclosure, credit application and a copy of the title front and back for each account you are selling. You will also need to provide the dealers license, Bond, Articles of incorporation, business card, drivers license and your Car Lot insurance. Esco suggested you make a check list of these docs and copies because Mid-Atlantic likes to misplace things. He strongly suggest that you do not be cheap with the shipping of the documents. The dealer needs to use united Postal Service or FedEx so you know exactly who signed for the documentation. In his experience they told him that no one had received the documentation as of yet he had the FedEx tracking number and the person who signed for it. He said it was like magic almost, they found it just like that. Mid-Atlantic strategy is to buy as much time as possible as you will notice. The stalling techniques are present even down to the last hour of funding. So be ready for the fight throughout the entire process.


They will call to verify each account. There is a percentage of accounts that need to be verified before they fully fund you, you should ask about the call percentage. You should also make sure the accounts are up and running before telling your customers to begin paying them. Esco and a customer tried to make a payment in his office to only be told the account was not set up but Esco was told it was. By doing this Mid-Atlantic could use the recourse clause in the contract. Not all the accounts have to be verified but they will use threatening letters like the example below.

Here is example of a letter: At this time, Mid-Atlantic Finance Company is not exercising its rights under the agreement to have the contract(s) repurchased.

However, Mid-Atlantic Finance Company reserves this right for any of the contracts referenced above. Although the accounts did not meet exact conditions within the specified timeframe, repurchases may be avoided with your assistance. Over the next few weeks, the accounts will be monitored for further customer contact and payments. During this time, Mid-Atlantic Finance Company may decide to retain or have PHOENIX MOTORS OF RALEIGH NC INC repurchase the above-referenced contracts on a case-by-case basis.

You may contact me at 1-800-793-9661 extension 3 4 7 regarding this notice, recourse, and repurchases.


Megan Lawless

Dealer Relations Department

This letter was sent out in the beginning of the process. As you can see they are already threatening to rescind money they have already promised. They basically do not want to do the work to call the customers. Esco suggests that you have the customers call in to make this part smoother. He did note that more time then not that his customers couldn’t get customer service representatives on the phone. He would even call in himself to see of they were telling the truth to only find the same thing to be true.

Mid-Atlantic will pick some of your weaker accounts with bad pay history. Esco thinks this is because of the probability of them falling out of the promised payment. He suggests that you should just pull them out yourself before they put together the agreement. The agreement will want a personal guarantor and the company to guarantor the notes if there is a default on the contract. In Esco’s experience they will make accounts fall out by a number ways. The biggest take away as he and the company had to go through. Is to make sure if there is a legal fight, please ensure that it has to be done in your state and not Florida if you reside in another state.

There are plenty of reliable, upfront and honest finance companies to sale notes to. Car Financial, Glenview and Agora are big players in the market as well as SDA. You do not have to deal with a company that will not stand behind their word.

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