How VSC Payment Plan Providers Help Consumers

How VSC Payment Plan Providers Help Consumers

Vehicle Service Contracts, or VSCs, are beneficial to many automobile consumers. These contracts are created to protect your vehicle when damages occur. While they aren’t required at the time of purchase, VSCs often make things easier for the consumer after they’ve done research and spoke with their dealer about the right VSC for them. But how does one pay for this VSC? This is where a Payment Plan Provider, like Omnisure, comes in to aid the customer and set up a payment plan that makes the most sense for them.

No Large Upfront Costs
Without using a payment plan provider, costs can be steep for the consumer. Costs can vary depending on the vehicle’s make, model, or condition. Other factors could include the coverage and length of the VSC. When faced with a large, upfront costs, consumers may be turned off from considering a VSC. A down payment is required, but the costs will often be lower to allow for the payment plan to occur in monthly increments, which leads to the next benefit.

Monthly Payments for Every Budget
Monthly payments are useful for a number of our bills, rent, loans and other expenses, and this includes payments for a VSC. Because everyone is different, payment plan providers will suggest plans that will be helpful for a variety of budgets and situations. Many payment plan providers will assist with payments that stretch from 12 to 18 months and sometimes up to 24 months, depending on the contract. This way, payments can be made in smaller installments over a period of time that best suits the consumer and their needs.

0% Interest
One of the major selling points for VSCs through payment plan providers is the interest. If consumers roll over the cost of the VSC into the car loan, consumers will have to pay interest on the VSC. However, through a payment plan, the interest is zero, which means not a penny extra will be taken out of the consumer’s wallet. The average cost of a VSC to a consumer is roughly $2,800. The average loan rate for used vehicles is around 7.8% for 48 months. When you look at the math, this adds up to create a huge savings for consumers.

Understanding how to pay for VSCs through a payment plan provider can help make things simpler for those who may be skeptical . With Omnisure, payments plans are made easy. Instead of paying a large sum upfront, Omnisure provides an interest free payment plan solution up to 24 months. All you need is a small down payment and your credit card will be charged monthly for the length of the payment plan. Contact your retailer for more information!