Auto Financing

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    I need vehicle financing. Can Creative Finance help me?

    YES! Creative Finance, Inc. specializes in vehicle financing. Whether you have great credit, bad credit or no credit, contact one of our loan specialists today at 877-254-6855. At Creative Finance, Inc. we want to give our customers good auto financing options while also helping them to establish, improve or re-establish their credit rating.

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    How do I make payments with Creative Finance, Inc.?

    Making payments on your car loan with Creative Finance, Inc. is simple. Payments can be mailed to: CREATIVE FINANCE, INC., PO BOX 454, Wisconsin Dells, WI 53965.

    If you prefer to drop your payment off, please use one of the following locations:
    2861 HWY. 13
    ADAMS, WI

    102 HENRY DR.
    PORTAGE, WI

    675 W. PINE ST.
    BARABOO, WI

    1700 N. SPRING ST.
    BEAVER DAM, WI

    815 BUSINESS PARK RD.
    WISCONSIN DELLS, WI

    All checks will be converted to electronic transmissions. This is our check acceptance policy.

    Any written draft for payment should be made payable to Creative Finance, Inc. Be sure to include your account number or numbers and the amount you wish to have applied to each account so it is properly credited.

    Payments by phone using credit cards or debit cards are accepted at 608-254-6855. Automatic withdrawal from your checking or savings account can be set up anytime during the course of your contract. Allow 14 days for activation before the first payment can be taken. To stop a scheduled withdrawal, call 72 hours before your payment is due.

    Three changes are allowed to your automatic withdrawal schedule. After the third change this service is no longer provided.

    Your receipts are a great source of information. Be sure to keep them in a secure location for future reference.

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    What happens if I cannot make a payment?

    We understand that from time to time, unforeseen circumstances could arise that may prevent you from making your payment when due. If you find yourself in this situation, please call before your due date. We are eager to assist you and are prepared to comply favorably with any reasonable request. Documentation of your unforeseen circumstance will be requested for your file. In order for us to properly help you, however, we must communicate regularly and honestly with each other. Creative Finance, Inc. is here for you.

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    Are there any consequences to late payments?

    After the 10th past due day, your account will not be in good standing. A late charge in the amount of 5% of the remaining payment due (not to exceed $10.00) will be assessed on the 11th day your payment is late.

    Your delinquent credit status will be reported to the credit bureau on the 31st day your payment is late.

    Your contract may be considered in default at which time legal action may be required. You will be required to pay all costs involved in the recovery of your debt.

    Always communicate with your account representative at Creative Finance, Inc. by giving us a call at (608) 254-6855. We can help you get on track with your payments!

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    What is the simple interest calculation on my vehicle loan?

    Simple interest is the method used to calculate interest for all Wisconsin consumer installment contracts.

    Simple interest is calculated by applying the periodic interest rate to the principle balance every payment period for the term of the loan. The reduction of the principle balance over time to produce a "declining balance" is known as "amortization".

    EXAMPLE: On April 24th you borrow $1,000 at a periodic interest rate of 28.9% for repayment at $113.72 over a period of 10 months. Each payment is due on the 35th of each month with the first payment due on May 25th.

    The formula: $1,000 X 28,9% X 30 / 365 days in a year. On May 25th $23.75 would be applied to interest and the rest of your payment, $89.97, would be applied to reduce your principle balance.

    The interest on your second payment would be calculated the same way using a principle balance of $910.03 X 28.9% X number of days from May 25th to the date of your second payment / 365.

    Tour receipt will show how much of your payment was applied to interest and how much was applied to the principle balance each time.

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    What happens when I want to payoff my account?

    The principle balance on your last receipt is never your payoff amount. If the proper amount is not paid in full, your account will remain open and you will not receive a release of lien. It is IMPORTANT to call (608) 254-6855 with the date you intend to payoff your account so an accurate final payment can be released to you.

    RELEASE OF LIEN AFTER PAYOFF: As you know, a lien is placed on your title to show there is a secured interest, Creative Finance, Inc., in the vehicle. (You do not own the vehicle free and clear.) If final payment is made by check or automatic withdrawal your closing documents will be sent to you with a release of lien after a 21 day waiting period. If final payment is made in cash or by certified funds, your closing documents will be sent to you with a release of lien after a 7 day waiting period.

    A letter will be sent with your closing documents explaining hot to remove Creative Finance, Inc. as the lienholder on your title.