| Progressive Finance |
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| We have a No Credit Check Financing Program |
| You must satisfy the following requirements to receive No Credit Check Financing |
- Must be employed by the same company for at least six months
- Earn $1,000 a month and deposit at least $500 a month into your checking account
- Must have a checking account that has been open for at least three months
- No NSFs and no more than 5 overdrafts in the last 30 days
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| FREQUENTLY ASKED QUESTIONS |
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| Q: What is the interest for this program? |
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| A: This program has no interest because it is a lease-purchase contract. If you pay your balance off within 90 days, all you pay is the invoice price and the $50 Processing fee. If you take more than the first 90 days to pay off the purchase, then you will pay 1.8 times the invoice total over 12 equal payments. (Example: on a $1,000 invoice, you will pay the $50 processing fee and 12 monthly payments of $150; a total of $1,850) |
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| Q: Will my credit be checked? |
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| A: No, we will verify information from your most recent 30-day bank statement and pay stub. |
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| Q: How do I make payments? |
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| A: Payments are automatically withdrawn from the your bank account on your paydays. Example: If the invoice amount is $1,000 and you are paid weekly, you will pay $34.61 for 52 payments. If your are paid bi-weekly, you will pay $69.23 bi-weekly for 26 months. If you are paid monthly, you will pay $150 monthly for 12 payments. |
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| Q: How long is the lease agreement for? |
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| A: All lease/purchase agreements are for 12 months unless you wish to pay off early. |
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| Q: What are my buyout options? |
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| A: We offer early buyout options to customers who wish to own the merchandise outright before the 12 month term is completed. You have two options: |
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90 Days Same as Cash:
You pay only the invoice amount plus a $40 INITIAL PAYMENT within 90 days of the delivery date. |
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65% Buyout Option:
If you wish to own the merchandise outright after 90 days, you will be given the buyout price of $585 ($900 x .65) |
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Example:
If after 6 months you wish to purchase the merchandise outright and your balance is $900, you will be given the buyout price (65% of $900 = $585) |
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| Q: What if I wish to return the merchandise? |
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| A: Although returns are not common, because this is a lease/purchase agreement you may return the merchandise at any time to Progressive. |
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