Frequently Asked Questions
As an industry-leading automated loan payment service, AutoPayPlus allows our members to sync their loans payment to their paycheck schedule. AutoPayPlus is focused on ensuring our members budget better, pay off their loans faster, protect their credit, and become debt-free sooner by simply changing how they make their payments. Members can enroll any fixed-rate loan including home mortgages, student loans, auto loans, recreational vehicles, as well as utility, and credit card bills.
US Equity Advantage is the provider of the AutoPayPlus service; therefore, we are known as AutoPayPlus by US Equity Advantage. (DBA). AutoPayPlus by US Equity Advantage has enrolled more than 250,000 members, processing more than $5.65 billion in loan payments since 2003. We are dedicated to making sure our members are fully equipped to accelerate their loan payoffs in the most efficient way.
There are no upfront costs to the member for enrolling in AutoPayPlus. There is a $399 enrollment fee on fixed loans or a $199 enrollment fee for leased vehicles. The enrollment fee is deducted from your accelerated payments. Once the enrollment fee is satisfied, all additional debits are applied to the principal on the member’s loan.
- AutoPayPlus does not charge a cancellation fee. However, if the enrollment fee has already been deducted from your account, we do not offer a refund.
- AutoPayPlus does allow our members to place a pause on their account if needed.
Additional fees include
- A one-time $2.45 account verification fee and a convenience fee or ACH fee for each debit :
- $2.45 convenience fee per biweekly, monthly, or bimonthly debit
- $1.25 convenience fee per weekly debit
- If we are not provided your lender statement, your payment fees will increase by $1.00.
- Other one-time fees that may occur are a stopped payment fee of $50 and an NSF fee of $29.50.
Typically, the loan account number will be assigned a few weeks after you have purchased your vehicle and enrolled your auto loan in AutoPayPlus. Having a copy of your lender statement ensures payments are made on time and you are eligible for the payment guarantee. To activate the payment guarantee, you can conveniently upload your lender statement in the Members’ Portal by following the steps in the question below. Please note if we are not provided with your lender statement, your payment fees will increase up to $1.00 per debit.
- Simply click “View My Accounts”.
- Select the loan you are uploading the lender statement to.
- Once you are in the account you wish to upload your lender statement, Click “Upload Documents”.
- You will then be taken to a page to Upload a Document.
- Click “Upload Lender Statement”
The Payment Guarantee is applied once we receive a copy of your lender statement and guarantees that your payment will be made on time. Once we have a copy of your lender statement, if AutoPayPlus does not properly complete a debt payment in the grace period or in the correct amount, we will pay any late fees or finance charges that reasonably incurred as a result, provided the account was in good standing. Once resolved we will pay the guarantee in the form of a principal reduction equivalent to one month’s payment, up to a maximum of $1000.
With the enrollment fee, our dedicated US-based support team ensures that accelerated payments are applied to the principal and all other payments are made on time. You will also receive credit protection** from TransUnion®, your car’s trade-in value from Kelley Blue Book®, and recall alerts from DataOne®.
AutoPayPlus members can enroll any fixed rate loan for automated payments including home mortgage, auto, recreational vehicle, student, or personal loans. You can also automate your credit card and household bill payments. During your 6-month open enrollment period, you and anyone in your household are eligible to enroll an unlimited number of accounts. ACH fees per debit still apply.
The Open Enrollment lasts 6 months from your AutoPayPlus sign-up date. During this time, maximize your program benefits by adding mortgages, student loans, or credit cards for no additional enrollment fee. A debit fee of $2.45 still applies for each transaction.
While you do have access to make payments on your own, you will find AutoPayPlus will ensure your payments are applied to principle while lenders will often apply your additional funds to future dated payments. When you try to replicate our services, you may face payment posting obstacles that we would have handled on your behalf. Accelerating loan payments takes time and discipline, while AutoPayPlus is easy and convenient.
A bi-weekly pay cycle (paid every two weeks) consists of 26 paychecks per year, but you only need 24 to ensure 12 months’ worth of payments are made. The extra two debits are applied to your principle to pay off your loan faster. In other words, two months out of the year, you have three pay cycles in a month. AutoPayPlus takes the extra debits out of those two months and applies the accelerated funds as a principle payment.
With our financial management service, you can change your life without changing your lifestyle by simply adjusting how you make your payments. For example, using our most popular payment plan - biweekly, automated withdrawals are made every two weeks. There are 52 weeks in a year, so you’re paying 26 halves each year. This gives you one extra payment toward the principal balance each year, which may enable you to pay off your loan sooner.
AutoPayPlus takes the necessary measures to ensure your personal and financial information is securely handled. We have a full range of state-of-the-art Internet security measures including firewalls, cryptography, intrusion prevention, and vulnerability testing provided by GoldSky Security to safeguard your money and all your personal information.