Super Prime
Definition
A credit tier representing customers with the highest credit scores and strongest loan qualifications.
Why It Matters
Super prime customers (typically 740+ credit score) qualify for the lowest interest rates and best terms. They are also excellent candidates for F&I products because they value protection and have the budget to afford it.
Examples
- Super prime customers typically have credit scores of 740 or higher
- They qualify for rates as low as 0-3% depending on manufacturer incentives
Related Terms
Buy Rate
The interest rate approved by the lender before any dealership markup is applied.
Rate Markup
The difference between the lender's buy rate and the final contract rate offered to the customer.
Finance Reserve
Profit earned from marking up the lender's approved buy rate before presenting the contract rate to the customer.