Explore Our Payment Plan Details
We’re excited to offer you our payment plan options. Take a moment to familiarize yourself with the terms and conditions below before making your decision.
Interest Start Date: When you activate your plan, this is when we begin calculating interest. If you’re on a “No Payments, No Interest” plan, you’ll only start paying interest after a Default. For “Equal Payments, No Interest” plans, it kicks in on the date of Default, but only if it’s not resolved within 15 days.
Annual Interest Rate: This is the percentage at which interest accrues on your outstanding Principal Amount. It’s like a tiny fee we add daily to your account balance. For “Equal Payments, No Interest” plans, we slash this rate to 0% unless a Default occurs, and isn’t fixed within 15 days.
Annual Percentage Rate (APR): Think of this as the grand total of borrowing costs expressed as a yearly percentage. It includes any disclosed fees. If you’re on an “Equal Payments, No Interest” plan, your APR drops to NA% unless a Default happens and isn’t fixed within 15 days.
Payment Frequency: How often you make payments depends on your loan type. For “No Payments, No Interest” plans, you’ll need to clear the Unpaid Balance of Repair Invoice by the original Term’s end. With “Equal Payments, No Interest” plans, your Regular Payment recalculates post-Default.
Term: Your agreement lasts for 3 months. If you’re on a “No Payments, No Interest” plan and there’s a Default, we extend it to 36 months. The same goes for “Equal Payments, No Interest” plans.
Payments and Cost of Borrowing: Your total payments are determined by your chosen payment frequency. Any fees or interest payable are added to this. For “Equal Payments, No Interest” plans, if there’s a Default, your total payments go up, provided it’s not resolved within 15 days.
Prepayment: You can pay off part or all of your Principal Amount without any prepayment fees. If you pay off everything, you may get some fees refunded.
Default Charges: If a Default happens, you may face extra charges, like reimbursing collection costs and dishonoured payment fees. Check out the list below for more details.
No Insurance/Insurance Cannot be Verified (monthly) – $49.95
Bank Notification of “Agreement Revoked” – $249
Broken Promise or Arrangement – $99
Cost of Furnishing any Notices or Demands – $299
Lien discharge fee – $125
Administering Insurance Claims – $250
Insurance Cancellation Notice – $99
Lien Registration – $149
Fee Changes: We may tweak the Default Charges listed here at any time. We promise to let you know beforehand, though.
Feel free to reach out if you have any questions or need clarification before diving into your payment plan. We’re here to help!
