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Early Payoff Programs
Accelerating your customers loan payments will help them get ahead on their personal finances without making major sacrifices. Our customers tell us that committing to an accelerated schedule was easiest budgeting decision that they ever made
Owe less at trade-in
Accelerating your customer's auto loan payments also put them in a better equity position sooner in the life of the loan which means they will owe less on their loan at trade-in. Extra payments to principal will chip away at your loan balance early in the life of the loan.
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A longer car loan term can mean more of your customer's payment goes to interest.
If your customer's are one of the 40 percent of car buyers with 72-month car loan terms, then they are likely to pay more interest over the life of the loan and could end up with less equity in their vehicle at trade-in. Bi weekly car payments and other accelerated payment plans can help your customer squeeze more interest and equity out of their new car purchase.
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