Consumer Finance Companies?

[Anonymous]

Hi all. I've been scouring the internet and these forums, and can find only general info on CFC's. I'm aware that furniture stores, etc. are categorized as CFC's, but what about loans through major auto companies? Is Toyota Financial, Honda Financial, and others considered finance companies? I know CFC's are regarded negatively, so would it be better to get an auto loan from Chase? Are Chase auto loans considered to come from a CFC? Any info would be helpful, specific info on CFC's seems to be scarce.

[Anonymous]

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@Anonymous wrote:
Hi all. I've been scouring the internet and these forums, and can find only general info on CFC's. I'm aware that furniture stores, etc. are categorized as CFC's, but what about loans through major auto companies? Is Toyota Financial, Honda Financial, and others considered finance companies? I know CFC's are regarded negatively, so would it be better to get an auto loan from Chase? Are Chase auto loans considered to come from a CFC? Any info would be helpful, specific info on CFC's seems to be scarce.

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None of the auto loan companies you listed are CFCs.  CFCs are typically higher rate installment loan companies.  Anytime you have to get financing from a company with higher interest rates because you didn't qualify for the lowest interest rates it could mean the company is a CFC.