Retail Installment
Flexible Payments, Day-One Ownership
Shopping Made Easier
Flexible Payments
Covers Products, Services, Labor, and Sales Tax
No Penalty for Early Payoff
Retail Installment FAQs
Q: What does “No Credit Required” and “No Credit Check” mean?
A: No Credit Check is when someone’s credit will not be pulled in the process of finding lending options.
No Credit Needed refers to the fact that your credit score may be checked, but there are other factors that are part of the approval requirements.
Q: Do I need a certain credit score to get approved?
A: No. Your credit history is only one part of the decision process. We look at other factors besides a credit score. A certain credit score is not required for approval.*
Q: Am I required to make a down payment?
A: In some cases, a down payment may be required at signing. Any down payments you make will be applied to the amount being financed. You have the option to make a down payment, even if not required, if you want to lower your financed amount.
Q: Is this a cash loan?
A: No. A retail installment contract is a contract between you and the retail merchant for payments in exchange for goods or services. The retail merchant will provide the goods and services to you according to the installment contract.
Q: Can I pay it off early?
A: Yes, you may pay off your retail installment contract early at any time, and you have a couple of options when it comes to this.
You will save money if you pay the discounted amount during the Early Payoff Discount (EPD) period. You must make payments larger than your regularly scheduled payments by the EPD expiration date. You can make additional payments through our customer portal or by contacting our customer service team.
If you pay off during your Early Payoff Discount period, you can pay the principal amount plus the lesser of accrued finance charges or a small fee (plus late and NSF fees, only if you have them).
Q: Do my payments get reported to the credit bureau(s)?
A: Yes. Payments are reported to TransUnion, Clarity Services, Inc., and Data X monthly. Effective January 1, 2024, American First Finance (AFF) will no longer report to DataX for any new Retail Installment Sale Agreement accounts opened through American First Finance on or after this date.
*Approval is possible without a credit score, but credit history may be checked.