Frequently Asked Questions

Please take a moment to review our frequently asked questions page (FAQs). If you require assistance, feel free to contact us. Our team is here to help.

What types of financing does Advance Acceptance offer?

What types of financing does Advance Acceptance offer?

Advance Acceptance offers a large variety of financing options. We offer EFAs (equipment finance agreements), purchase-option leases, and municipal leases. We also offer flexible terms, such as seasonal and deferred payment options.

What is an EFA?

What is an EFA?

EFA stands for equipment finance agreement. Unlike a lease agreement where the lessor retains ownership of the equipment and the lessee may have the option to purchase at the end of the term, under an EFA the borrower retains ownership of the equipment financed throughout the term of the agreement.

An EFA may be the perfect solution for those who have experienced a difficulty regarding the end of term payment price, at the end of a lease agreement in the past. With an EFA, since there is no purchase option, there is no difficulty — you already own the equipment.

Is there a penalty for paying off my contract early?

Is there a penalty for paying off my contract early?

Agreements are non-cancellable. If you are interested in paying off early, call us to request a payoff quote.

Do you offer revolving or installment financing?

Do you offer revolving or installment financing?

Advance Acceptance only offers installment financing. We pride ourselves on having fixed rates, fixed terms and fixed payments.

Revolving (credit card style) accounts can eliminate their low initial rate if you were to make a late payment or go against any of the terms in your contract.

Installment financing will allow you to know exactly how many months it will take you to pay off your equipment, where paying minimum amounts on your revolving account will take much longer.

How do I get started with Advance Acceptance?

How do I get started with Advance Acceptance?

Fill out our simple credit application. You can fill one out online, print one out from this website, or ask your dealer for one to fill out.

If you fill out an application manually, fax it to (800) 288-4959. We will have a credit decision within one hour of receiving the application. Once approved, we will ask you to sign our finance documents and return.

What are your credit requirements?

What are your credit requirements?

Advance Acceptance has actual people that review your credit. Information that they are looking for includes established time in business, personal and/or business credit score, comparable debt, and identifying information.

I applied for financing through my equipment dealer, what does your company do?

I applied for financing through my equipment dealer, what does your company do?

Advance Acceptance partners with some of the most well-known equipment manufacturers and dealers across the United States, to offer customer direct financing. This makes your buying experience easier and faster, because you don’t have to shop around for financing.