Frequently Asked Questions
How do I submit an application?
Click on Submit an application on the Welcome page, walk through the steps it prompts you to.
How will I know if I am approved?
When you complete your application, you will know immediately if you have been approved. You will also receive the estimated terms and conditions of any such approval.
What happens if the final repair amount is more than I was approved for?
We review all application and credit information to determine the maximum loan amount you qualify for. You will need to make arrangements with the service center to pay for any repairs over the maximum loan amount we have approved.
How does the service center know the status of my application?
We will alert the service center when you are approved and at each subsequent step in the process where that information is important for them to have. You will still need to coordinate with the service center about the repairs, time frames for pick up, etc.
What happens after I am approved?
After you receive your approval, contact the service center and indicate if you would like them to move forward with the required repairs. You must authorize all repairs and all communication related to the repairs will happen between you and the service center. When the repairs are completed, you will select your final loan terms and sign your loan agreements.
When do I get my money to pay for the repair?
When the repair is complete, you sign the loan documents and pick up your vehicle. We will pay for the repair on your behalf directly to the service center.
What do I do if I disagree with the service center about the final bill amount?
The cost of the repairs and the negotiation of any final repair amount with the service center is entirely your responsibility. Cross Point Finance, Inc. has no role in the process.
What is the interest charged by Cross Point Finance?
Cross Point Finance charges interest based on your application and credit worthiness. Our rates range from 9.99% to 17.99% (based on state interest rate parameters).
Is this better than putting it on my credit card?
With a Cross Point Finance loan, you can choose your repayment term and you can feel comfortable that the loan will be paid down. With credit cards, if you pay the minimum payment it may take you longer to pay off that expense. A Cross Point Finance loan also gives you flexibility and keeps that credit card open for other purchases.
Can I apply for more than one loan?
You will be eligible to apply for a second loan once you have been in your first loan for six months and have paid all your payments on time.
Can I stop paying on my loan if there is a problem with the repair work?
While we at make every effort to partner with high quality service centers, mistakes do happen. Cross Point Finance makes no warranties or guarantees related to the quality of work performed on your vehicle. When you accept a loan from Cross Point Finance, you agree to pay back the amount of that loan. If you are having issues with the repairs on your vehicle, please contact your service center.
Can I pay my loan off at any time?
Yes, you can pay off your loan at any time without penalty or additional fees.