No Interest Deferred Payment Plan (NIDPP)

What is the percentage of interest charged when customers are taking advantage of the NIDPP?
There is 0% interest charged to customers who decided to finance through our NIDPP program.
Tue, 27 Oct, 2020 at 7:25 PM
Can I change payment frequency of an NIDPP contract?
No — after a contact is purchased, the payment frequency cannot be changed.   
Mon, 2 Nov, 2020 at 3:42 PM
How do I change a customer's withdrawal date on their NIDPP coverage?
A customer's withdrawal date may be changed at the customer's request by reaching out to Customer Success. Please note changes to withdrawal dat...
Tue, 26 Oct, 2021 at 2:57 PM
Why are payments still being withdrawn from a customer's account after a policy has expired?
Policies must be paid in full, whether inforce or expired.   This means that if a customer has reached their allowable mileage or term but still have a...
Wed, 4 Nov, 2020 at 7:25 PM
Will I be invoiced a chargeback if the customer's refund on their NIDPP policy is being sent to the dealership?
Yes — even if an exception is granted to  send the refund to your dealership rather than the client, you will be invoiced a dealer chargeback.  For guid...
Sun, 8 Nov, 2020 at 5:56 PM
How soon after a purchase is a down payment taken?
Down payments are taken instantly.  As soon as the "purchase" button is clicked, the down payment has been withdrawn from the customer's b...
Mon, 2 Nov, 2020 at 7:09 PM
What is the frequency of payment withdrawals on NIDPP policies?
LGM offers two payment frequency options as part of their No Interest Deferred Payment Plan program:  Bi-weekly – 21 days  Monthly – 45 days
Mon, 2 Nov, 2020 at 7:04 PM
Can a payment withdrawl date be amended on an NIDPP policy?
Yes, we may amend the payment withdrawal dates on policies that are set up on monthly payment frequencies. In order for this to be done, please e-mail the f...
Tue, 26 Oct, 2021 at 2:35 PM
Can a client who is behind on payments pay half of the amount owing in order to make a claim?
This is not possible.  In order for a client to submit a claim on an NIDPP policy, the following two conditions must be met:   1. There are no outstand...
Fri, 6 Nov, 2020 at 10:57 AM
Which products do not support our NIDPP program?
Please note NIDPP is not applicable on the following products:   Loan Protection  Replacement Insurance Excess Wear & Use Protection Plan  Certifie...
Wed, 1 Feb, 2023 at 11:55 AM