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http://www.omniture.com --> Sections Home Page Local News AP News Blogs Archives Business Classifieds Event Calendar Classic Forums Forums Life Opinion Obituaries Multimedia Photo Gallery Readers Photo Gallery Sports Tempo Weather Road Cams Special Coverage 2006 Britt Festivals --> Shop Our Valley AutoFinder HomeFinder JobFinder Search Our Valley Special Sections Distinctly Northwest Women in Business Homelife Magazine Joy Magazine Oregon Golf Info Oregon Wine Info Other Publications Local Links Ashland News eSouthernOregon Newspapers In Education Personals Customer Service Advertise With Us Place Classified Ad Contact Us FAQ's Home Delivery Site Map Email Story to a Friend April 12, 2007 What is a 'well-qualified' buyer? The advertisements for purchasing a new car states 0 percent interest for "well qualified" buyers. What is the criteria for a well-qualified buyer and who actually qualifies for these special deals? ­— Kathleen W., Medford Unless you've been down Bankruptcy Road or piled up late payment notices, chances are you will be among the "well-qualified" at one point or another. We tracked down Derek DeBoer and Doug Pfaff at Town & Country Chevrolet in Ashland to figure out the definition of a well-qualified buyer. "Most consumers are pretty skeptical and think nobody gets 0 percent," DeBoer says. "But when a manufacturer has something out there like 0 percent, they're actually pretty aggressive about who they will finance." Advertisement Instead of a typical interest rate, based on low risk-, medium-risk and high-risk customers, who might get three different rates, buyers might have a better chance during such promotions to get the best rate. Pfaff says buyers with a checkered credit history, including lender charge-offs, bankruptcy and late-payment paper trails, will have a hard time getting good interest rates. "It's a big stretch for a lender when someone has shown they can't pay bills," Pfaff says. Ultimately it's banks, or other lending institutions, that make the call on a buyer's credit worthiness. He says credit scores run between 380 and 880 and more typically buyers at or above the 720 mark gain automatic qualification, as long as they fall into a bank's criteria. "If you've got great credit, you can finance the dealer mark-up, the full kit and caboodle," he says. Send questions to "Since You Asked," Mail Tribune Newsroom, P.O. Box 1108, Medford, OR 97501; by fax to 541-776-4376; or by e-mail to [email protected] . We're sorry, but the volume of questions received prevents us from answering all of them. Would you like to respond to this story? If so Click Here to visit our forums. Advertisement Copyright © 1997-2007 Mail Tribune, Inc. All rights reserved. Privacy Policy | Terms & Conditions | Website Feedback online casinos news Home Security Systems Online Casino Reviews Trunks, Footlocker Fundraisers UK Homeowner Loans Casinos Canada Cord Blood Banking Discount Hotel Reservations Texas Electric Choice Compare Electric rates in Texas Online Casino Windermere Van Vleet Men's Clothing Debt Help New Hampshire Primary