Frequently
Asked
Questions
FAQ
-
Maybe. Most loans will allow you to make extra payments, but we all know how easy it is to say ‘I'll do that next month.’ The PegasusPay™ program provides you with the convenience and discipline necessary to receive all the benefit an accelerated loan payment process provides.
-
Not a problem. Please contact us and we’ll get everything switched over for you.
-
Yes. PegasusPay™ is convenient no matter how long you keep your vehicle. The interest savings and equity acceleration varies depending on how long you plan on carrying the loan. Acceleration is generally started within the first 8 months of the loan.
-
Yes
-
Almost any checking or savings account. We will need your bank’s 9 digit routing number and your account number.
-
Call us and we will be happy to assist you. Please contact us at least 3 business days before your next scheduled transaction.
-
We wouldn’t be able to enroll your loan.
-
We will schedule another transaction to attempt to collect the funds for your payment. We will charge a fee for insufficient funds. We will not be able to make your payment until we have received the funds.
-
You should see a line on your bank statement that will look very similar to this: "PegasusPay™ 1-800-XXX-XXXX". (Your bank may display it differently.)
-
Your lender's records will reflect the results of our program. You may log on to most lenders’ websites or use their automated phone systems to verify payment has been received. The payment will post just as if you had made the payment; it's that seamless.
-
PegasusPay™ strives to be as efficient as possible; however, there are uncommon cases when a payment is misapplied at the loan processing center or lost in the mail. If this happens please contact us immediately, and we will make it our priority to get the payment applied as fast as possible.
-
Just PegasusPay™. You don’t have to notify your bank or your lender. Our process is seamless, so your loan will be paid without any disruption. Your personal bank is very familiar with the ACH/Debit process so there is no need to contact them either. Your bank will be notified via the debit process/transaction.
-
To better protect your privacy, PegasusPay™ does not send out any type of statement. You can always call us for questions on your account.
-
Most lenders will still send out a monthly statement. When you receive a monthly statement from your lender, please review it and keep it for your records, but do not make payment. Please call us if you have any questions about anything you receive from your lender regarding your loan and we will be happy to assist you.
-
There is a one-time enrollment fee calculated based on the size of your loan, and a small service charge is applied to each debit transaction. Please consult your agreement for the fee structure.
-
There isn’t one. This program is designed as a convenient way to make your payment to your lender, while paying down your loan balance at an accelerated rate.