ARC 90 is an alternative to traditional financing. You can make a purchase today and have up to 180 days to pay for it. No credit check is done nor are entries made for this program.
2. How do I qualify?
This program is based on your income, not credit rating. You’ll need evidence of income such as a pay stub or bank statement showing direct deposits from employment. The purchase amount can be equal to 1/2 a month’s income and paid for over a 90 day period. For a 180 day term the purchase can equal a month’s income. Along with verifiable income you’ll need a bank account in good standing.
3. How does it work?
Provide the merchant your evidence of income, copy of your drivers license, and either a series of post dated checks or a bank information form filled in by your bank. After approval, debits will be made to your account for the down payment and the future dates based on the terms you and store agree to. It’s that simple. You’re provided a receipt for your records showing the dates of payment so you can ensure funds are available on the scheduled days.
4. What You Need for Purchase:
Evidence of income: This can be a pay stub no older than 30 days or a bank statement also no older than 30 days showing direct deposits from a job or entitlements such as social security or a pension. The amount of income that qualifies is standard hours or salary. Overtime, vacation, or sick leave can not be counted.
Copy of ID: You’ll need a copy of your drivers license or state issued ID. It must be valid and un-expired.
Check Book: If you’re going to use checks, they must be from an open account in good standing and one that is used on a regular basis.
Bank Form: The bank form is an alternative to using checks and will be provided by the store to you. It’s a simple form which asks your bank for its ABA routing number and the account number you want to use for making the payments. The store will fill in the top, you’ll sign the middle, and your bank will fill in the rest.