Our Equity Acceleration Program enables consumers to reduce the loan payoff period and interest on their loans, thereby increasing equity in a depreciating asset. By providing a program which generates biweekly debits, Equity 4 U is revolutionizing consumer vehicle financing just as equity acceleration programs have done in the home mortgage industry for decades.
Borrowers typically send lenders a check each month. Instead of making monthly payments, funds are electronically debited from the borrower’s checking or savings account in the amount of one-half the regular payment every two weeks. These bi-weekly
debits add up to 26 half-payments – the equivalent of 13 full payments – over the course of the year. One “extra” debit occurs approximately every six months, and will be applied to the enrollment fee. Once the enrollment fee is satisfied, funds from the “extra” debit are forwarded to the lender to be applied only against the principal portion of the loan. This reduces the loan balance and all future interest payments. |
