Need A Good Finanace Company

loudmouth · Post by **loudmouth** » Tue Jun 08, 2004 9:45 pm

What is the best finance company? I am looking for one that offers reasonable interest rates for my clients and will accept credit cards as a form of payment without penalty. Double digit interest rates are out of the question.

Thanks

loudmouth · Post by **loudmouth** » Sun Jun 13, 2004 1:10 pm

I know many of you send finance agreements with your policy quotes. What are the interest rates and finance charges for these companies? I don't see why people are not willing to share this information it will only lead to lower rates for our clients if the insurance community is informed on where they can obtain the lowest rates possible. I see no reason why a client should pay 15-25% in interest. There must be some competition in the finance industry.

pita3333 · Post by **pita3333** » Mon Jun 14, 2004 10:19 am

There are competitors in premium finance. The rates are high due to the type of loan involved. Short term, unsecured....
I tell my clients that it is like putting the premium on a credit card. If I were a business owner looking at premium financing and had a low interest card...I think I might actually go that route!

fcis1 · Post by **fcis1** » Wed Jun 16, 2004 6:59 am

We use imperial AI Credit and PFS, it depends on the premium with the type of rate you get. Just financed a policy about 20k in premium yesterday and the rate was7.65, but the lower the premium, higher the rate

loudmouth · Post by **loudmouth** » Wed Jun 16, 2004 8:15 am

Thanks. I do feel that using a credit card check would at most times provide a lower interest rate than going through a Premium finance co. I just wanted some new names to contact. AI Credit is one I haven't heard of. I will contact them regarding rates.