Creative Finance Consumer Information
Easton Motors' main concern is to help you acquire a
dependable, reliable vehicle and maintain that vehicle for as long as
possible. To help you, Easton Motors has
created a unique family of companies.
Creative Finance's goal is to assist you in establishing,
improving or re-establishing your personal credit rating.
PLEASE "HELP US HELP YOU."
OUR PLEDGE TO YOU...
Is to treat you so well that you will only purchase vehicles
from our good people at Easton Motors and finance with us at Creative Finance,
Inc.
Is to establish and build a positive relationship of both
mutual trust and respect.
We are committed to work hard to earn your business by
solving all of your transportation, maintenance and finance needs. BONUS BUCKS PROGRAM
When you finance with Creative Finance, customers in good
standing earn bonus bucks. Redeem them
for fun gifts at 815 Business park Road, Wisconsin Dells.
HOW TO EARN BONUS BUCKS:
- $20.00 for each new finance over $1,000
- $20.00 for introduction meeting with Creative Finance
personnel in first week of contract origination date.
- $15.00 for a complete personal credit file at time of purchase. Complete credit file means:
- 6 references with names, addresses and phone numbers,
- Trade, title and any lien release,
- Most current electric bill with your name and address,
- Most current telephone bill with billing name and phone
number,
- Full coverage auto insurance binder,
- Two of your most recent pay stubs
- $5.00 for a complete personal credit file received within 3
days of purchase.
- $10.00 for each monthly payment made on or before scheduled
due date excluding early payoff. (See early payoff below.)
- $5.00 for each bi-weekly payment made on or before scheduled
due date excluding early payoff.
- $3.00 for each weekly payment made on or before scheduled
due date excluding early payoff.
- $2.00 issued at end of contract for each automatic
withdrawal payment received from your checking or savings account.
- $50.00 for early payoff prior to 90 days before scheduled
payoff date. Excluding finance
transfers, insurance claim and dealer payoffs.
- $25.00 for maintaining full coverage insurance for the term
of loan without lapse.
Payoff Date. Transfer
of financing and dealer payoffs do not qualify.
Bonus Bucks Items Available: $10 = Can Coozie
$15 = Ice Scraper
$20 = Travel Mug
$40 = Baseball Cap
$50 = Auto Visor CD Holder
$100 = Emergency Road Kit
$150 = Smoothie Machine
$175 = Three-Season Jacket
$200 = Canvas Folding Travel Chair
$250 = Showtime Rotisserie (Set It and Forget It)
$500 = 20' Flat Screen TV with Remote All accounts must be in good standing to qualify for and
redeem bonus bucks.
Bonus Bucks are not redeemable for cash and must be redeemed
by person to whom they are issued.
Creative Finance retains the right to select all prizes and
award values. Prizes may change without
notice. ^ back to top
MAKING PAYMENTS
Payments and correspondence should be mailed to:
CREATIVE FINANCE, INC.
PO BOX 454
WISCONSIN DELLS, WI 53965
Payments can be dropped off at:
2861 HWY 13
ADAMS, WI
102 HENRY DR.
PORTAGE,
WI
675 W. PINE ST.
BARABOO,
WI
1700 N. SPRING ST.
BEAVER DAM, WI
815 BUSINESS
PARK ROAD
WISCONSIN DELLS, WI
All checks will be converted to electronic
transmissions. This is our check acceptance
policy.
Any written draft for payment should be made payable to
Creative Finance, Inc. Be sure to
include your account number or numbers and the amount you wish to have applied
to each account so it is properly credited.
Payments by phone using credit cards or debit cards are
accepted at 608-254-6855. Automatic
withdrawal from your checking or savings account can be set up at anytime
during the course of your contract. Allow
14 days for activation before the first payment can be taken. To stop a scheduled withdrawal, call 72 hours
before your payment is due.
Three (3) changes are allowed to your automatic withdrawal
schedule. After the third change, this
service is no longer provided.
Remember, bonus bucks are issued when your payment is made on
time. Bonus bucks are only issued when
all of your accounts are in good standing.
Your receipts are a great source of information. Be sure to keep them in a secure location for
future reference. ^ back to top
WHAT HAPPENS IF I CAN'T MAKE MY PAYMENT?
We understand that from time-to-time, unforeseen
circumstances could arise that may prevent you from making your payment when
due. If you find yourself in this
situation, please call before your due date.
We are eager to assist you and are prepared to comply favorable with any
reasonable request. Documentation of
your unforeseen circumstance will be requested for your file. In order for us to properly help you,
however, we must communicate regularly and honestly with each other.
CONSEQUENCES OF LATE PAYMENTS
After the 10th day, your account will not be in
good standing and you will not be eligible for bonus bucks.
A late charge in the amount of 5% of the remaining payment
due (not to exceed $10.00) will be assesses on the 11th day your
payment is late.
Your delinquent credit status will be reported to the credit
bureau on the 31st day your payment is late.
Your contract may be considered in default at which time
legal action may be required. You will
be required to pay all costs involved in the recovery of your debt.
A money judgment may be requested in small claims court
followed by a wage garnishment OR a replevin judgment may be requested in small
claims court for the return of your vehicle.
After the sale of the repossessed vehicle, you would still be responsible
for any remaining balance owed.
Always communicate with your account representative at
608-254-6855. This is very important! ^ back to top
OTHER FREQUENTLY ASKED PAYMENT QUESTIONS
When are my payments due?
The truth in lending disclosure section clearly states when
your payments are due. If you have any
questions, please contact your account representative at 608-254-6855
immediately.
What if my check is returned NSF?
You are responsible for calling us within 24 hours of
receipt of your NSF notice. A $15.00 NSF
fee will be applied to your account. If
your checks or automatic withdrawal payments are repeatedly returned NSF, your
account will be put on a cash, money order or credit card basis for the
remainder of your contract.
What if I mailed my payment and it has not arrived by the
due date?
Always mail payment to PO Box 454, Wisconsin Dells, WI
53965. Your payment will be delayed if
you use the physical address for any of our locations.
We cannot possibly be responsible for the postal
service. Be sure to mail early and if
you do not receive your receipt in 3 or 4 days, call to check on its arrival.
For your convenience, we also offer automatic check
withdrawal (ACH). ^ back to top
CO-BUYER RESPONSIBILITIES
By agreeing to co-sign, you have guaranteed this debt.
You are assuring us that if the buyer doesn't pay as agreed,
you will make payments up to the full amount of the debt and any costs
associated with collecting the debt.
If the account reaches 31 days past due, your credit rating
will also drop.
If legal action is required, you will also be named as a
defendant. Your wages will be garnished
as well and liens against any property you own would be placed at the
courthouse.
Legal judgments also appear on your credit report.
OUR RESPONSIBILITY TO OUR CO-BUYERS
You will receive all late notices that the primary buyer
receives.
You are welcome to call with any questions about the account
at anytime. In fact, we encourage it.
CHANGE OF ADDRESS, PHONE OR EMPLOYMENT
Contact your account representative immediately at
608-254-6855 with any changes of address, phone number or employment to ensure
you receive all notices, receipts and statements promptly. ^ back to top
SIMPLE INTEREST CALCULATION ON YOUR LOAN
Simple interest is the method used to calculate interest for
all Wisconsin consumer installment contracts.
Simple interest is calculated by applying the periodic
interest rate to the principle balance every payment period for the term of the
loan. The reduction of the principle
balance over time to produce a "declining balance" is known as "amortization".
EXAMPLE:
On April 24th you borrow $1,000 at a periodic
interest rate of 28.9% for repayment at $113.72 over a period of 10
months. Each payment is due on the 25th
of each month with the first payment due on May 25th.
Interest will be calculated on 30 days at the time of your
first payment because there are 30 days from April 24th to May 25th.
The formula: $1,000 X 28.9% X 30 /365 days in a year. On May 25th, $23.75 would be
applied to interest and the rest of your payment, $89.97, would be applied to
reduce your principle balance.
The interest on your second payment would be calculated the
same way using a principle balance of $910.03 X 28.9% X number of days from May
25th to the date of your second payment / 365.
Your receipt will show how much of your payment was applied
to interest and how much was applied to the principle balance each time. ^ back to top
I PLAN TO PAYOFF MY ACCOUNT
The principle balance on your last receipt is never your
payoff amount.
If the proper amount is not paid in full, your account will
remain open and you will not receive a release of lien.
It is important to call 608-254-6855 with the date you
intend to payoff your account so an accurate final payment can be released to
you.
RELEASE OF LIEN AFTER PAYOFF
As you know, a lien is placed on your title to show there is
a secured interest, Creative Finance, Inc., in the vehicle. (You do not own the vehicle free and clear).
If final payment is made by check or automatic withdrawal,
your closing documents will be sent to you with a release of lien after a 21
day waiting period.
If final payment is made in cash or by certified funds, your
closing documents will be sent to you with a release of lien after a 7 day
waiting period.
A letter will be sent with your closing documents explaining
how to remove Creative Finance, Inc. as the lienholder on your title. ^ back to top
DISABILITY AND LIFE INSURANCE
This insurance is helpful when you are unable to work due to
an illness or injury.
If you purchased disability insurance, please refer to the
front and back of your insurance certificate for what is and is not covered
under the policy.
To make a claim, you must be under the care of a
physician. You must be out of work for a
minimum of 14 days. Contact your account
representative at 608-254-6855 for a claim form. Make sure to completely fill out the claim
form for the quickest approval.
If your claim is approved, the insurance will pay back to
the first day of your injury or illness.
If all sections of your claim form are properly filled out, the first
payment usually arrives 30 days from receipt of the claim. Expect an additional 20 days if information
must be gathered to complete a form that was not properly filled out.
You are responsible for keeping your account current at all
times. If you do not stay current during
this process, late charges will be assessed and your credit rating will drop.
PHYSICAL DAMAGE INSURANCE
You are required to carry auto insurance. If it is not possible or economical for you
to secure full-coverage auto insurance, this insurance covers damage to the
vehicle or total loss for the vehicle only.
To make a claim, you must have an accident report. Bring this accident report, a copy of your
title, a copy of your loan contract, the current location of the vehicle, a
description of damage and any repair estimates to Easton Motors, Inc.
administration office at 815
Business Park Road, Wisconsin
Dells as soon as possible. Direct
questions to 608-254-6855.
GAP PROTECTION
When your vehicle is deemed a total loss, this covers the
"GAP" between what your auto insurance company or your physical damage
insurance will pay and the remaining amount owed on your loan contract.
It will not pay for payments that were past due prior to the
accident.
Since Easton Motors, Inc. would be involved from the date of
the accident, making a claim for GAP is the next step after payment is received
from your insurance company. Direct
questions to Easton Motors, Inc. at 608-254-6855.
ACCIDENT PROCEDURES If you have an accident, never accept an offer to settle
from your insurance company without first discussing your options with Easton
Motors, Inc. at 608-254-6855.
Continue to make your payments to preserve your credit
rating.
When you receive an insurance check on your claim, you must
bring the check and the final repair bill to our main office at 815 Business Park Road
in Wisconsin Dells, or mail them to Creative Finance, Inc., PO Box 454, Wisconsin Dells,WI 53965.
Remember, even though your vehicle is damaged or totaled,
insurance companies seldom pay off loans in full. This is where GAP protection can really help
you out because you are still responsible for your unpaid balance. ^ back to top
INSURANCE REQUIREMENTS
Both you and Creative Finance, Inc. have an investment in
your financed vehicle. You are required
to carry full-coverage auto insurance with deductibles no greater than $500,000
for the length of your loan contract.
Creative Finance, Inc. must be indicated as the loss payee on your
insurance policy.
It is your responsibility to keep this coverage on the
vehicle at all times.
If at anytime your coverage lapses or cancels, your contract
will be in default and a legal notice will be sent to you calling the loan in
full.
At this point, you must contact your account representative
at 608-254-6855, to find out how we can get coverage on your vehicle quickly or
you can voluntarily surrender the vehicle.
If you choose not to communicate your intentions, you are in
danger of having your vehicle legally repossessed.
Please review the back of your installment sales contract
section 8(b) regarding insurance requirements and section 8(e) regarding
authority of seller to perform for me.
Or for direct consumer loan, please review the back of your Chattel
Agreement section 5(b) and 5(e).
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