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Underwriting Guidelines
Non-Recourse Financing Program

These guidelines cover the general conditions necessary when determining what Barnett Finance Company Inc. will approve. Please note that these are general conditions only. In many cases, certain exceptions may overrule these general conditions. The following information provides a general representation of the type of customers, conditions and deal structures that are acceptable to Barnett Finance.

Typical Customer
Our typical customer maintains credit histories ranging from no credit to severely challenged credit. We generally look for stability and ability to pay when there is an absence of acceptable credit history. We do not accept customers who are currently delinquent on their mortgage or rent unless there are legitimate explanations. Our customers must be able to prove their income and residency.

Residence Stability
Generally, a customer must have 6 months at residence or 3 years in the area. Job transfers are acceptable. We request a 3 year history of residence on each buyer. Each customer must have a phone.

Employment Stability
Generally, a customer must have a minimum of 6 months with the current employer or 2 years in the same field. Considerations are given for recent college or technical graduates. Job gaps should not exceed 30 days and we prefer no more than three employers in the last two years. Customer must be employed to obtain financing unless they are on a permanent fixed income. Customers receiving unemployment or temporary disability are ineligible for financing. Any job changes automatically revoke the approval and the deal must be underwritten again.

Self Employed
Generally, self employed customers are less acceptable, but will be considered as long as income through bank statements can be verified.

Co-signors
Generally, we do not accept unrelated co-signors, but will accept them on occasion with good credit history

Dealership Employees:
Any employee involved in the submitting credit applications is generally unacceptable. Employees in departments not related to sales, will be considered on a case by case bases.

Military Personnel
Unfortunately, Barnett Finance Company does not finance military personal.

Direct Check Credit
Any credit not on the bureau must be accompanied by some proof of payment history or ownership. Examples of acceptable proof include a title with a released lien from the finance source, proof of payment history from a printout. A pay history verified with a DMV report or proof of insurance.

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