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Comparing Repair Financing Options

As in all industries, there is wide divergence between top tier professionals and those providers who put their interests before that of their clients.  It’s up to us as professionals to provide the best solutions for our clients.  As top tier professionals, we work hard every day to overcome the inherent negative goodwill that permeates our industry.   This now includes predatory lending.   Predatory lenders destroy people’s lives by taking advantage of their needs and capitalizing on their inability to service their debts.

autologiQ values and respects the dignity of all humans.   We strongly condemn any business practices that exploits consumers.  We ask you – as our industry colleagues – to stand with us!  Sign up to use autologiQ’s Easy Monthly Payment (EMP) solution and let our team of automotive service professionals help to make your client’s experience one they will remember for years to come.

If you are a customer that needs repair financing to pay for their services, be sure to review the loan agreement carefully to ensure you will not be charged penalties and fees that will make it difficult to pay off your loan.

Here are some specific differences between autologiQ’s Easy Monthly Payments and other programs:


Interest Rate Spikes to 40% if Payment is Late

Predatory lenders use opaque verbiage to misrepresent the real interest rate to the consumer.   If they miss a payment, these lenders penalize the customer with fees and increased interest rates that continue in perpetuity, for the duration of the loan.  This makes it almost impossible for your client to pay off their repair loan, and thus risk having their vehicle repossessed by the lender.


Our interest rate is comparable to, or less than most credit cards at 19.99%.   In the event your client misses a payment, their interest rate stays the same!

autologiQ is not a finance company.  We are a fully digital, automotive service provider, who has developed a repair finance solution to help your clients keep their existing vehicle on the road longer, and in an affordable manner.

We licence our EMP solution to Tier 1 financial institutions who have agreed to work with our clients when a payment becomes unmanageable for a month or two.   We encourage our clients to pay off their repair loan early.   We never apply a penalty or charge the consumer fees when they pay off their loan.


Automotive Repossession Strategy Masquerading as a Helpful Solution

The financial institutions who acquire our EMP receivables provide us with on-going statistics on performance of the repair loans.   We value transparency and want to share these stats with you.

  • 8% of consumers pay no interest; closing out their EMP repair loan within the first 90 days;
  • 10-15% of consumers have difficulty making their scheduled payment but rectify the situation within 30 days; and
  • 3 out of every 100 consumers have no intentions of paying their debt and have their vehicle repossessed.

These statistics have remained constant over the past five years in which autologiQ has been originating EMP receivables.

One of our valued Automotive Service Providers recently sent us the following webpage from another repair finance company’s website:  “My Car Has Been Towed, What’s Next?”  The page informs your client of the exorbitant fees that will be charged by the finance company as they repossess your client’s vehicle.   They make it virtually impossible for your client to ever pay off their repair loan.  In fact, their business model is predicated on recovering and remarketing vehicle assets from consumers who struggle to manage their repair loan.

autologiQ partners with top tier financial institutions who work with your client to pay off their loan.   Because we don’t increase the interest rate or charge exorbitant fees, we create a pathway for your clients to manage their payments effectively.    Our purpose is to help consumers extend the useful life of their vehicles and do so in an affordable way.  



If you are using a financing company other than autologiQ, we strongly recommend you look at the reviews that people are giving about that company.  These are your clients.  How do you want them to be treated?

Check out autologiQ’s Google Reviews HERE!


Meet the autologiQ Team and learn about our purpose today!

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