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ORLANDO, Fla. June 10, 2013 – US Equity Advantage (USEA) – a leading provider of biweekly and custom loan payment services to the automotive industry announced today that a Memorial Day promotion with its auto dealer clients raised $8,900. The funds will go directly to Feed the Children, to help the Oklahoma disaster victims, and also to The Wounded Warrior Project, to help injured servicemen and women.
USEA made a contribution for each AutoPayPlus™ enrollment that participating auto dealers contracted over the three-day Memorial weekend; raising a grand total of $8,900.
“In honor of Memorial Day, we wanted to do something to support men and women injured while bravely serving our country. At the same time, the disaster in Oklahoma touched so many lives that we also felt our support was needed there,” said Robert Steenbergh, US Equity Advantage president. “The success of this promotion and feedback from our partners has inspired us to plan similar charitable projects in the future.”
AutoPayPlus™, a rapid loan payoff solution, also known as "half-pay" or "bi-weekly", is a valuable payment service offered to dealers at no-cost as a stand-alone tool accessible via the web and through menu integration. AutoPayPlus™ is a core feature of menus powered by MenuVantage.
AutoPayPlus™ allows a customer to make payments on car loans, mortgages, student loans, credit cards, or any fixed interest loan by having their checking or savings account debited a half payment amount every two weeks. Instead of making twelve monthly payments, the customer will make 26 half payments, which means that two half payments per year are applied to principal, reducing the term of the loan and interest paid. Customers can further customize the payment plan and enroll an unlimited number of loans for their families.
By utilizing AutoPayPlus™, a dealer can offer additional products to their customer while maintaining virtually the same monthly payment and keeping the loan payoff term essentially the same. Extending the finance term will reduce the monthly payment but it's not a benefit to the consumer. With AutoPayPlus™, not only will the customer reduce the payoff term of the loan, but also reduce the amount of interest paid, and build equity in their vehicle faster - meaning that they will be in a better position to trade sooner. AutoPayPlus™ also allows the dealer to offer a customer the benefits of an extended term without increasing the monthly payment – allowing the customer to afford an additional $600 to $900 worth of product in the process.
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Founded in 2005, US Equity Advantage (USEA) stands as the industry leader in biweekly and custom loan payment services, from home and automotive to RV, boat and student loans. USEA helps its members reach their financial goals faster through flexible payment plans to accelerate their loan payoff, ultimately saving money in costly interest, staying within their budget and building valuable equity. For more information please visit: www.usequityadvantage.com.