Special Financing is a term that has been given to any form of financing that requires more than an automatic approval and most of the time is a term utilized when it comes to dealing with people that have negative credit.

A good special finance department must be able to deal with the person upfront.
 
Here are some simple steps.

When you first meet the customer you need to be empathetic but firm about their situation, sit them down and explain to them how the bank is going to base their loan.

 Their income and stability, such as length on their job and their residence, their income versus their bills .

Other things to consider is book value and mileage on the vehicle they select. (minimizing the risk for the lender can make a world of difference.)

 And of course their down payment, never forget down payment is one of the keys for a solid deal.   

Once you explain that to them:

 Go over their stipulations, proof of income proof of residence, you should have a standard stipulation list that covers most of the banks that you do business with.

It is better to have more than less, it also lets the customer know that you are a professional and know your business.

Anyone can put a car on the road but the real finance manager gets it funded ASAP and with no surprises this prevents getting hit with unexpected bank fees.

Make it a habit to walk your Inventory every day, stay on top of your programs and maintain a healthy relationship with your banks.

 Direct your customers in the direction you want, collect your stips up front and treat them right.. They are your best  form of advertising.

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