I just wanted to say thank you for being there for those of us who have made credit damaging mistakes in the past and are trying to correct them. Thank you to your company for your friendly staff for not making us feel like criminals and taking the time to offer help and support. It is greatly appreciated and needed, especially in todays economy. Everyone needs a little help once in a while and your company is a life saver to consumers like me. I have two toddlers and am trying very hard to provide a good life for them even when money is so tight. You have been flexible and even extended my payment a week to fit it into my pay periods. Thank you so much and keep up the great job!
Explanation of subprime auto loans & special financing lending
Subprime loans tend to have a higher interest rate than the prime rate offered on traditional loans.
The specific amount of interest charged on a subprime loan is not set in stone. Different lenders may not value a borrower's risk in the same manner. This means that a subprime loan borrower has an opportunity to save some additional money by shopping around.
Security Auto Loans a subprime lender based in Minneapolis MN is one if the leading sources of special financing. Their special finance lending is consider by many to be one of the best systems to help consumers get back their good credit rating while obtaining financing for a vehicle.
Explanation of special financing
A sector of the automotive lending industry for borrowers with a limited or tainted credit history. Special financing in the auto finance industry is risk based, which means that the terms of the loan are set so that the expected returns to the lender/investor are great enough to cover the risk of default by the borrower. Special finance loans typically carry a higher interest rate than is available to borrowers with a clean credit history.