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Can I do this myself?
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.
What if I refinance my loan?
Not a problem. Please contact us and we’ll get everything switched over for you.
I usually trade before my vehicle is paid off. Will I still benefit?
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.
Does PegasusPay™ work with any lender?
Yes
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What type of accounts can PegasusPay™ debit from?
Almost any checking or savings account. We will need your bank’s 9 digit routing number and your account number.
What if I need to change the account where my funds are debited from?
Call us and we will be happy to assist you. Please contact us at least 3 business days before your next scheduled transaction.
What if I don’t have a bank account?
We wouldn’t be able to enroll your loan.
What if I don’t have money in my bank account when a debit is scheduled to occur?
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.
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How do I know if PegasusPay™ has debited my account?
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.)
How do I know if PegasusPay™ has made the monthly payment?
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.
What if my payment is not applied by the lender's monthly due date?
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.
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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.
Will I receive anything in the mail from PegasusPay™?
To better protect your privacy, PegasusPay™ does not send out any type of statement. You can always call us for questions on your account.
Will I receive anything in the mail from my lender?
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.
What fees are involved?
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.
What’s the catch?
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.
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