Financing: Frequently Asked Questions

What type of financing is offered?

Through the Credova platform, you may be approved for a retail installment sales contract (RISCs), loan, or closed-end consumer lease agreement. Your financing product will be determined by your state of residency, credit approval and your merchant selection.

What is the different between a RISC and a Closed-End Consumer Lease Agreement?

With a RISC, you are purchasing the item and agreeing to make installment payments over a specific term plus any associated interest rate. A closed-end consumer lease agreement doesn’t have an interest rate, but rather charges monthly leasing fees. With a closed-end consumer lease, you are leasing the item/s from a lessor and have the option to purchase the item during the course of the lease.

What are the leasing fees?

If you choose to accept a closed-end consumer lease offer, you will make a monthly lease payment that includes a leasing fee. These fees represent the amount charged by the lessor for allowing you to lease an item(s) and will vary depending on customer approval information. Please review your offer(s) carefully prior to completing your agreement.

What is the interest rate?

The interest rate is the amount charged, as a percentage of principal. This is often expressed over an annual basis commonly referred to as the annual percentage rate (APR). The system considers more than just your credit score, and your interest rate will vary based on the information you provide. Please review your offer(s) carefully prior to completing your agreement.

Am I locked into financing for the full term?

Not at all. Whether you have a RISC or an installment loan, you can payoff your balance at anytime and there are never any prepayment penalties. If you have a closed-end consumer lease agreement, you can exercise your early buyout option at any time.

How easy is it to apply?

Very easy! Prequalifications only require basic information and you can receive a decision in seconds.

How much will I be approved for?

Depending on your application details, you can be approved for offers up to $10,000.

If I have bad credit, will I be declined?

Credova considers all credit types in the approval process. Keep in mind, there is no hard credit inquiry, so applying won’t affect your credit score.

How often are payments made?

This depends on the type of financing you have selected. Your final payment schedule will be included in your agreement.

When will my purchase be shipped to me?

For shipping timing, tracking, and terms, please review the retailer’s policies.

How much do I have to pay today?

Depending on the type of financing selected, you may be required to complete your first payment at the time of signature. Whereas, other financing products will not require a payment for at least 30 days. You will be informed of any payments due before you agree to financing. If required, you will be able to complete your first payment at checkout.

What if I need to return my purchase?

If you need to make a return, reach out to the merchant you purchased from to determine their return policy. Please see your agreement for more information about returns and your financing.

How do I apply?

To prequalify, select the Credova banner, or select a “Prequalify Now” or “Learn More” button on the merchant website. You can also visit and begin the application from the “Prequalify” button.

If I am approved, how long is my approval good for?

Your approval is good for 30 days. After 30 days, your approval will expire and you will need to reapply.

Who can assist me if I am having trouble with my application?

If you have any questions about your financing or need assistance with your application, please reach out to Credova support at 833-273-3682. You can also email support at or visit the Credova website at and select the chat feature from the homepage.

Can I still payoff my contract early?

Yes. If you have a RISC or an installment loan, you can pay off your balance at any time. If you have a closed-end consumer lease agreement, you can exercise your early buyout option at any time. Either way, there are no prepayment penalties.

Have more questions? Ask us!

Call 833-273-3682   |   Email   |   Visit 

Review the Credova Privacy Policy found at Terms of Service can be found at Review Credova disclosures and offer details within the Credova API. 

* Terms and conditions dependent upon the applicants credit profile. 

Financing: How the Process Works in 5 Simple Steps:

RETAIL FINANCING PROGRAM – Application Instructions

Step 1. To see if you are eligible to apply for financing you will be asked to provide your full name, current address and last four digits of your social security number. This is a credit ‘soft-pull’ and will not impact your credit ratings or score. If you are eligible you will the complete the credit application. You will be asked to provide your basic demographic information and prompted to set-up an account to access the customer portal. Your email address will be your User ID; you choose your password.

Please Click the Link to Apply or View FAQs:        SOT Finance Application Link    

**PLEASE NOTE: ‘Straw Purchase’ financing applications are illegal and will result in immediate cancellation. A straw purchase is any purchase wherein an agent agrees to acquire a good or service for someone who is unable or unwilling to purchase the good or service themselves, and the agent transfers the goods or services to that person after purchasing them. A straw purchase of a firearm is illegal by federal law.

Step 2. Read and acknowledge the Application Agreement (Consent to Review Credit), Privacy Policy, and Consent to Receive Information Electronically by checking the appropriate box and then submitting your application.

Within 60 seconds you will receive your initial credit decision; either an approval or a denial. If you are approved move on to Step 3 of the process.  If you have been denied, you will receive a letter in the mail with the specific reason(s) for the denial.

Step3. Upload an image of your current state issued photo ID to the customer portal. U.S. Credit will not accept information via fax or email.

Step 4. Contact the participating dealer or manufacturer that you are purchasing from to place your order. Please call us and we will be happy to provide you with the contact information. Remember the minimum financing amount is $500.00.

Step 5. When your product invoice is complete you will receive an email from DocuSign with a link to your documents.  You will be prompted to electronically sign your documents.   Once the e-signature process has been completed U.S. Credit, Inc. will disburse payment directly to the dealer. You will be notified by the dealer when your order is complete and your purchase is ready to be picked up or shipped.