Updated: Aug 30, 2021
When a customer is approved for a lease or credit-based loan the actual amount they are approved for is the total of the payments they will make, not the amount of the purchase.
In leasing or rent to own the total of payments is often 180% the sale price. For that $1000.00 item you sold the customer they pay $1800.00 and the lender is pocketing $800.00. Subtract your cost for the item and you may end up on the short end of the stick.
Credit cards and personal loans aren't much better. That $1000.00 sale is discounted immediately to you for about 1.8% in that month. Month on month and it becomes an annual rate of 21.6% you pay plus the additional 20% or more compound interest the customer pays. That makes the total of payments about $1400.00. Subtract your cost for the item and you might be on par with the lender who doesn't have your overhead expenses.
ARC90 does not charge the customer interest. The store is charged a guaranteed rate of no more than 15% on annual sales which can be rolled back into the price of the item. The rate is fixed so the total percentage for the year is 15%. At 15% you get a bigger slice of the approved amount. The $1800.00 approved amount on a potential lease results in about $1550.00 to you with ARC90. The $1400.00 credit card transaction nets more than a $1000.00.
The customer must be able to make the payments. ARC90 isn't for the typical "no credit check" consumer who's in constant default. We don't check credit but we do verify the ability to pay. Even minimum wage earners can qualify if they're responsible. It's how people manage their money that counts. We require evidence of income, ID, and recent bank history. Income and bank history are easily handled by our account verification system where the customer's bank directly forwards us a copy of the most recent history. It takes a minute or less to do the account verification.
We've recently added a 90 day no interest early pay off. if the customer pays it off within 90 days the entire plan fee is waived. Even after 90 days, the customer can save the remaining plan fee on future payments without any additional charges.
Contact Us For Additional Information
Call/Text - 212-390-1198
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