Requirements to use our No Credit Check Financing Program!
There are only two key things that we look at when qualifying customers:
Income - A Job or Stable form of income (SSI, Disability, Social Security, Etc)
Bank Account - Must be a "Real" Bank - No Prepaid Debit Cards Accepted
We require the applicant has had steady income from the same employer for at least the last six months. We also require the applicant to earn at least $1,000 per month and deposit at least $500 per month into their checking account. The applicant must also have an active checking account for at least three months, and have no NSFs “Non Sufficient Funds” or excessive overdrafts in the last 30 days.
How much do I have to put down with this program?
Your down payment can be as low as 10% down. We sometimes may require up to 25% down at the time of purchase it would just depend on your approval rate from the bank.
What is the interest rate? How is the monthly payment figured?
There is not an interest rate. We purchase the merchandise from you and the customer leases it from us until it’s paid off. Lease payments are 15% of the invoice amount per month.
Example: $1,000 invoice = $150/mo payment
How does the customer make payments?
Payments are automatically withdrawn from our customer’s bank account on their paydays. Example: If the invoice amount is $1,000 and the customer is paid weekly, they will pay $34.61 for 52 payments. If they are paid bi-weekly, they will pay $69.23 bi-weekly for 26 payments. If they are paid monthly, they will pay $150 monthly for 12 payments.
What if the customer does not have a checking account?
They will not qualify. They must have an active checking account that has been open for at least three months. We do allow Joint/Co-Applications for customers that wish to use 1 banking account. Please contact a customer service rep for Xpress Wireless for more information.
How long is the lease agreement for?
All lease/purchase agreements are for 12 months unless the customer wishes to pay off early. See our 90 Day Payment Options & Early Buyout Option below.
What are the buyout options for the customer?
We offer early buyout options to customers who wish to own the merchandise outright before the 12 month term is completed. They have two options:
90 Day Payment Option: The customer pays only the initial down payment, invoice amount plus a 20% Buy-Out fee within 90 days of the delivery date. You may set this up within your account online or finance company customer service rep once approved into our program.
Early Buyout Option: If the customer wishes to own the merchandise outright after 90 days, they will be able to purchase their merchandise at a percentage of their remaining balance. You may complete the buyout at any time with your account online once you're approved into the program.
What if I have issues with the phone after I purchased it?
Any warranty or defective merchandise issues will still be handled by the store. Please verify with your store rep to verify the warranty that is coming with your purchase. Please also ask about our Insurance Program. You don't have to have service with us to purchase from us or to have insurance with us!
What if the customer wishes to return the merchandise?
Xpress Wireless does NOT offer a return policy to the store directly. We do offer a buy back program however. Please ask a store associate for more details on our buy back program.
Have anymore questions?
Call us at 1-888-868-9017
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