American First Finance
To tackle all these credit problems, American First Finance was established. American First Finance is a financial technology (FinTech) company that aims to provide financial services integrated with modern technology while also working on providing accessible credit facilities to consumers.
Advantages of American First Finance
As opposed to the traditional credit system, American First Finance’s credit system has the following advantages:
No Credit Scores Necessary: In contrast to the credit score system, American First Finance does not require a credit score to finance its consumers. Although, for verification purposes, credit history may be taken into account. Flexibility in Repayment: You may seek and get approval for credit with more ease and lesser time consumption with the flexibility in options to repay the credit. Transparency: If you are applying for credit with American First Finance, you can rest assured of total transparency in the company policies and return rates for any option you choose for repayment.
Payment Solutions by American First Finance
The company provides various payment solutions for all the states of America. Some of these solutions are as follows:
“Retail Instalment Sales Contract”: This contract runs directly between the transacting parties of the goods and services- the buyers and sellers. “Lease Purchase Agreement”: According to this contract, American First Finance buys goods from the sellers. The contract then runs between American First Finance’s consumers and the company itself. The products are given on an installment basis/ credit basis. “Bank Loans”: American First Finance gives out loans against consumers’ personal belongings, like traditional pawn brokers. However, the loans are regulated through an affiliated bank rather than the company itself.
Where to use American First Finance?
Now the big question arises. Where can American First Finance services and solutions be applied? Some retailers and merchants partner with the company and provide their products and services as an extension of company policy. Primarily, the company provides credit for furniture and automotive stores. Some of the other, more diverse company partners include electronics stores, jewelers, etc.
Ways to find local businesses in affiliation with American First Finance
There are undoubtedly some renowned businesses working with American First Finance, but thousands of local businesses partner with the company. There are various ways for you to identify these businesses:
“In-Store and Online”: You can search online if your business of interest is affiliated with American FirstFinance. “Text-to-Apply”: Another way is through texting. If you text at the number “41806”, you will be reached back with the necessary information about the business.
While following these methods, you may get the required information about the partnering stores; you should connect directly with the business you wish to transact with to ensure that the American FirstFinance policies work.
Conclusion
American First Finance is helping a great deal by providing a flexible way to obtain and use credit. You might say it is helping people get the push they require to take their minds off their budgets and enjoy good products all the same way. With American First Finance’s various payment options as per customer suitability, it has become possible for them to want more own more things and lead a better lifestyle.
Q. Are there any benefits of paying off the bank loan early?
A. Yes, it may be possible that your loan has policy agreements of a discount for early payoffs. However, you are required to refer to the terms and conditions of your loan. Other than the Early Payoff Discount, the interest rate for repayment is automatically reduced due to the lesser days of holding the money by the borrower.
Q. According to my “Lease-purchase agreement,” is the merchandise my own from the day I take it on credit from American Firs Finance?
A. No, the merchandise is not under your ownership from day 1. Instead, the merchandise is leased to you under the ownership of American First Finance. Once you have fully paid for the product, the same ownership will be transferred from the company to you.
