Benefits Consumer

» Pay Less Interest
On some loans, customers may save money by paying less interest! In fact, your “effective interest rate” will be less than the actual “contract interest rate”. 

» Reduce Your Loan Term
By adding additional principal payments each year, you reduce the amount of time it takes to pay off a loan.

» Equity
Build equity in your auto loan, making it easier to trade, because you will not have as much  Negative Equity!

» Convenience / Affordability
Smaller amounts of money withdrawn every two weeks, can make monthly payments seem more affordable; so you don’t waste time or money with envelopes and stamps, and don’t worry about paying on time.

» No Up Front Cost
Your SmartLoanPay fee is withdrawn from your extra bi-weekly withdrawals. Once it is collected, all the extra withdrawals are sent to your lender, as additional principal payments.

» Maintain/Create Excellent Credit
Having your payments made on time, month after month, will ensure that your credit stays good, OR if your credit wasn’t the best to begin with, using this program will Improve it!