What is Special Financing? – Exactly

What is special financing you ask? It’s a fancy term for a car, truck, RV, or boat loan that is generally approved from a dealership. This is a term in the financing market that always means that it’s a dealer loan, with dealer rates and down payment restrictions. It’s could be called a high risk car loan, or bad credit auto loan, and the same lending stipulation come into play.

The loan carries a higher APR than a standard loan, and the borrow who wants the vehicle from the dealer will have to make a hefty down payment (sometimes more than 25% of the vehicle’s sticker price). The reason the dealer insists on such a large down payment is because they assume that borrowers with bad credit ratings, are higher risks, so they want to make sure your investment in your car is large enough that you don’t want to walk away.

Special financing for a car is just a glorified “poor credit loan” whereby the car, RV, truck, trailer, RV, or boat dealership takes advantage of your low FICO score to make more profit on the financing than they make just from selling their unit to you.

So when you think a dealership is doing you some kind of favor – think again. They’re profiting from your pain.

Below Are Some Related Loans - Borrower Requests and Approvals

Do You Need a Personal Loan Approved Today?

Our community of friendly folks might be able to help you!

Use the comment box at the bottom of this page and tell us,

- how much you need to borrow
- what type of loan you need
- what State you live in
- how quickly you need the loan

Your email is never made public, saved, or shared. Your privacy
is never compromised.

Unkind words will not be published.

Thanks for visiting Californialoanfind.com ;-)

More Loan Applications

Loan Applications for Home, Mortgage, Auto, Personal, Payday, Bad Credit and Student Loans (10)
Here at CLF, online loan applications are submitted every day from applicants who need to borrow money for home mortgage...
Listing Best Bad Credit Lenders – Easiest and Fastest Approval Process (8)
Which bad credit lenders are the best, and which Bad Credit Lenders have the easiest and fastest approval process? Well,...
Home Loans for People with Bad Credit – California (Los Angeles – Palm Springs) (1)
Anyone looking for a home loan today in Southern California must have an impeccable application demonstrating to the ba...
Lender/Borrower Service for Oceanside (0)
For Oceanside California we have this page as a free service to local banks and borrowers alike. We have somehow neglect...
The Consequences of a Debt Consolidation Loan (5)
What are the consequences of a debt consolidation loan? This is a question many of our readers/borrowers ask. The short ...
10 Tips To Avoid Identity Theft (0)
There is a lot said regarding credit agencies on the television, the radio, and anywhere else where there is advertising...
Applying For A Personal Loan? [2] (3)
Continued from [1] It is a good thing (arguably) that in the United States we can get loans or readily borrow with ba...
4 Benefits and 3 Eligibility Criteria of HAMP (0)
If you have gone upside down your mortgage, its high time that you check whether you’re eligible for qualifying for the ...
Quick Cash Advance – A Basic Definition (0)
This is a basic little description and definition of what a cash advance is, and why you would get one, or need one. C...
Applying For A Personal Loan? [3] (0)
Continued..... Some of the personal loans people look for are government grants and if you can get around all the pap...

BELOW IS A LOAN CALCULATOR FOR CARRYING OUT SOME LOAN CALCULATIONS-------------------------------------------- Enter the loan amount, year of term, interest rate, and payment periods (14 for biweekly, 30 for monthly, 7 for weekly. Very helpful so you know exactly what the loan will cost you in interest payments and you will know the total COB (cost of borrowing).
--------------------------------NEW! --> Join our Non-Profit Peer-to-Peer Lending Forum--------------------------------

This was written by . Posted on Monday, July 19, 2010, at 8:00 am. Filed under Special Financing. Tagged auto dealership financing, special financing. Bookmark the permalink. Follow comments here with the RSS feed. Post a comment or leave a trackback.