Bi Weekly Payments

The Equity Advantage Program, also known as “Half-Pay” or “Bi-Weekly”, is a valuable product. This bi-weekly payment service is made available via a strategic alliance with US Equity Advantage (USEA) in partnership with Wachovia, N.A. A bi-weekly payment plan electronically debits half of a customer’s monthly car payment every two weeks. The customer effectively makes a total of 26 half payments per year, two of which are applied directly to the principal – shortening the term of the loan, accelerating equity, and saving interest.

Everyone knows that extending a customer’s finance term will reduce the monthly payment – but it’s not a benefit to the consumer. Bi-weekly payments allow you to offer the customer the financial benefits of an extended term without increasing the monthly payment – picking up $600-$900 worth of product in the process.

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