How to Qualify for Special Finance Rates

You need to have really good credit to qualify for these programs.

A lot of car buyers get excited, spend a lot of time negotiating the price of the car, only to later find out they don't qualify for the special finance rate.

Suddenly, they're now having to pay a lot more than they realized and they don't want all their time spent researching and negotiating to go to waste, so they sign the contract.

Don't let this happen to you.

In order to qualify for the low finance rates, you typically have to have Tier A+ credit. This means a credit score of at least 720 - but it depends on the lender.

Sometimes you can get by with a slightly lower score as long as you provide a larger down payment or show a long history of making car payments on time.

The first thing you need to do is check your credit score.

If it's above 740, you should qualify for the best interest rates.

If it's below 740, you need to call the dealership and ask to speak to someone in the finance office. Ask them what it takes to qualify for the special finance offer.

Knowing this before you start negotiating will save you a lot of time and headache and allow you to budget accurately for your situation.