What Credit Bureau Is Used When Applying For Financing
Our lenders are brokered into a 'pool' when performing a soft credit check for all 3 credit bureaus (i.e. Equifax, Experian, TransUnion). Our system then chooses the best score based on what offers one is likely to receive: pre-approval to finance the full amount, lowest APRs, lowest monthly payments, best repayment terms, 0% interest if paid within 12 months, etc.
All users will recieve a "T5-PRE" authorization to verify that they will recive the full amount requested for financing. After additional information is submitted and a hard inquiry is performed the TIER may go between T-5 (lowest) and T-1 (highest) to show what type of rates they will receive.
NOTE: All of our financing options now come with 0% INTEREST (i.e. same as cash) if the loan is repaid within 12 months - offered as a refund back to the bank account given.
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