Vehicle Acceptance Corporation - Servicing - Frequently Asked Questions

Vehicle Acceptance Corporation Servicing Program

Frequently Asked Questions:

Who Owns the Contract? The dealer retains full ownership of the contract at ALL times. What are the fees? Our fee is a percentage of what is collected. We only get paid when you get paid, and there are no sign up fees. This fee is 10 (ten) percent of what is collected. Most clients feel this fee is a bargain. You can be the judge of that. If you feel that we have not earned our fee, you can cancel any time at no cost. How frequently do I get my money? We ELECTRONICALLY transfer direct to your account weekly. How experienced is Vehicle Acceptance Corporation? We have purchased and serviced in excess of $150,000,000 over the past 18 years. This includes all types of collection activities, processing and implementing repossessions and litigation. How do you notify my customer? We provide you with information for your customer at the time of sale. We immediately notify them by mail where to direct their payments. We also provide them with a coupon payment book within one week of receiving the contract. How do I know what is going on with my accounts? If your customer is current, you will not hear from us other than receiving your money and status reports (sample here). If problems develop, we will send you a notification letter and call you to review the situation. It is your decision as to what the next course of action will be. Do you report to the Credit Bureau? YES, we report to all three credit bureaus. Experian Transunion Equifax Who handles the repossession? The dealer processes their own repossession. We will process a repossession, if necessary, for an additional fee. Will you buy my accounts? YES. We will purchase your accounts, ON A NON-RECOURSE BASIS, once the customer has satisfactorily paid payments for 90 days. Signing up and Getting Started Calling and Letters