What type of financing is offered?
Credova is partnered with a network of financing options that offer retail installment sales contracts (RISCs) and/or closed-end consumer lease agreements.
What is the different between a RISC and a Closed-End Consumer Lease Agreement?
With a RISC, you are purchasing the item and agreeing to make installment payments over a specific term plus any associated interest rate. A closed-end consumer lease agreement doesn’t have an interest rate, but rather charges monthly leasing fees. With a closed-end consumer lease, you are leasing the item/s from a lessor and have the option to purchase the item during the course of the lease.
What are the leasing fees?
If you choose to accept a closed-end consumer lease offer, with each monthly payment, you will pay leasing fees. These fees represent the premium charged by the lessor for allowing you to lease an item and will vary depending on customer approval information. Please review your offer/s carefully prior to completing your agreement.
What is the interest rate?
The interest rate is the amount charged, as a percentage of principal, by a retailer to a customer for the ability to pay for an item over time. This is often expressed over an annual basis commonly referred to as the annual percentage rate (APR). The system considers more than just your credit and your interest rate will vary based on the information you provide. Please review your offer/s carefully prior to completing your agreement.
Am I locked into financing for the full term?
Not at all. Whether you are using a RISC or a closed-end consumer lease, you can payoff your balance at anytime and there are never any prepayment penalties.
How easy is it to apply?
Very easy! Online applications only require basic information and you can receive an approval in seconds.
How much will I be approved for?
Depending on your application details, you can be approved for offers up to $10,000.
If I have bad credit, will I be declined?
Credova considers all credit types in the approval process. Keep in mind, there is no hard credit inquiry, so applying won’t affect your credit score.
How often are payments made?
Payments are required at minimum once a month on your scheduled due date.
When will my purchase be shipped to me?
For shipping timing, tracking, and terms, please review the retailer’s policies.
How much do I have to pay today?
Depending on the type of financing selected, you may be required to complete your first payment at the time of signature whereas other financing products will not require a payment for at least 30 days. If required, you will be able to complete your first payment at checkout.
What if I need to return my purchase?
If you need to make a return, reach out to the merchant you purchased from to determine their return policy.
How do I apply?
To apply, select the Credova banner, or select an Apply Now or Learn More button on the merchant website. You can also visit https://lending.credova.com/Apply/Identification/c049ee7d-8502-4c59-a34d-2fd128748ab8?showHandTheDeviceMessage=False and begin the application from the Prequalify button.
If I am approved, how long is my approval good for?
Prequalification approvals are good for 30 days while full approvals are good for 60 days.
Who can assist me if I am having trouble with my application?
If you have any questions about your financing or need assistance with your application, please reach out to Credova support at 833-273-3382. You can also email support at info@credova.com or visit the Credova website at www.credova.com and select the chat feature from the homepage.
Can I still payoff my contract early?
You are able to buyout of your contract at anytime.
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* Terms and conditions dependent upon the applicants credit profile.
The example provided is based on a borrower with a 770 credit score with $0.00 down payment, a 6 mo term, and an APR of 35.96%. Rate and information provided are subject to underwriting guidelines and applicant's creditworthiness as established by their credit profile. Actual payments may be higher. Other terms and conditions may apply. 3 Months = 90 Days.
**Not all offers are 3 months interest free.
Payment options through Credova are provided by merchants, other financial institutions, Alabama Credit Union Member NCUA, or Credova Financial, LLC. To learn more visit: www.credova.com/financingproviders. Not all financing products are available in all 50 states. Rate and information provided are subject to underwriting guidelines and applicant’s creditworthiness as established by their credit profile. Actual payments may vary. Other terms and conditions may apply. Shipping and taxes are not included. THIS IS A LOAN SOLICITATION ONLY. CREDOVA FINANCIAL, LLC IS NOT THE LENDER. INFORMATION RECEIVED WILL BE SHARED WITH ONE OR MORE THIRD PARTIES IN CONNECTION WITH YOUR LOAN INQUIRY. THE LENDER MAY NOT BE SUBJECT TO ALL VERMONT LENDING LAWS. THE LENDER MAY BE SUBJECT TO FEDERAL LENDING LAWS. Credova Financial, LLC, NMLS ID 1818530