2007-03-15 14:40:31 · 4 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
generally speaking "special financing" is a term used for programs designed for those with no credit or bad credit. the interest rates and down payment requirements are generally higher than "standard financing". This may not be the case, but that is the most common use of the term. If you are unsure as to what you qualify for, simply go to your bank and "pre-qualify" for a car loan. This wasy when you begin shopping you know exactly how much you can finance and under what parameters.
2007-03-15 14:59:14 · answer #1 · answered by malemute1 4 · 0⤊ 0⤋
Euphamism for "loans for people with bad/no credit." For example, pretty much anyone with a steady job can get a car loan, but for those who do not qualify for a regular bank loan, many dealerships have a special finance department. Here, non-prime buyers will get financed, but with a high interest rate.
2007-03-15 14:56:28 · answer #2 · answered by retto_pyrrah 1 · 0⤊ 0⤋
That is a nice way of saying, we will finance anybody with bad credit, what they don't say, is that the interest rates are going to be outrageous, and that the car likely isn't worth anywhere near what the price listed.
2007-03-15 15:08:19 · answer #3 · answered by fisherwoman 6 · 0⤊ 0⤋
That is probably one of those deals where if you make even ONE late pmt, your interest rate jumps from 24% to 30%
2007-03-15 15:19:11 · answer #4 · answered by Trump 2020 7 · 0⤊ 0⤋