High Financing Fees in Contracts
What we've seen…
Contracts that nickel-and-dime customers with fees, such as:
- $100 force-placed insurance
- $50 to file property taxes on the equipment
- $25 to provide amortization schedules
- $20 annual service charges
- $5 - $10 monthly service charges
How to protect yourself…
Have your lender provide you with details of all financing and service fees you may be charged throughout the life of your contract.
Lease/Loan Comparison Hotline:
As a no-obligation service for policyholders, you can call NCMIC's Lease/Loan Comparison Hotline. A specialist will compare a lease or loan you're considering to ours—before you sign on the dotted line.
Call 800-396-7157, ext. 6939
Learn more about the lease/loan comparison hotline
While NCMIC does not provide legal advice, we'd be happy to compare it to our contract and point out differences in terms and fees.
< Back to Financing "Gotchas"