How does PEAC Solutions decide whether or not to approve my loan or lease?
Credit decisions can vary depending upon the individual business and its industry, credit rating, time in business, borrowing experience, etc. Similar to how you qualify for personal credit. *Note that there are times where your personal credit will still need to be considered even when you have established commercial credit. Risk-based pricing vs. pass-fail pricing […]See Full Answer
What is a UCC-1 financing statement?
A Uniform Commercial Code-1 (UCC-1) financing statement is a legal form that a creditor files to give notice that it has or may have an interest in the personal property of a debtor. (A “debtor” is a person who owes a debt to the creditor as typically specified in the agreement creating the debt.)
Understanding Your Cover Letter
You’ll use this letter as a checklist to make sure you are providing all the documentation we’ll need to release your funds to you.
Why don't I have the title to the vehicle I'm financing with PEAC Solutions?
As the lienholder for the financed vehicle, PEAC Solutions retains the title until your finance agreement is paid in full.
Without title information, I'm not able to register my vehicle. Can you help?
In order for PEAC Solutions to process the title work for the vehicle and/or trailer you’re financing, our third-party title processing company requires the original Title/MSO and an original Notarized Power of Attorney. Please work with us to help us secure these documents as soon as possible. Once we receive them, the title processing company will […]See Full Answer
I've paid my finance agreement in full, but I still haven't received my title.
The title will be released to you 7-10 business days after we receive your payoff. We’ll mail your title to the address on file, via UPS Ground Delivery, unless otherwise requested.
Why is my equipment delayed or why is my financing in question if I’ve been approved?
Sometimes due to Documentation and other post-approval processes, your funds can be held up if we don’t receive everything needed to release funds to you or to the vendor. That’s why it is important to refer to your cover letter to ensure you’ve completed all the post-approval steps. If the deal has funded but […]See Full Answer
Does the equipment I want to finance impact my approval?
Yes, because the type of equipment and whether it is new or used helps us determine the length of term and which financing solution works best. For example, some equipment that may not qualify for a lease could, however, be eligible for PEAC Solutions’ other equipment financing solutions. It’s always our goal to get the […]See Full Answer
After you apply for financing with Peac Solutions, we prepare documents and send them to you to complete. These documents are specific to the terms of your contract. We use the information and documents you provide to use during the documentation process to verify your identity and billing contact information, plus proof of insurance,[...]
Vehicle Title FAQs