Understanding Les Schwab Credit Options
They say money can’t buy happiness. But Les Schwab credit and flexible financing can help you buy the tires, wheels, and services you need. Here’s a quick look at the history behind our credit plans and how we’ve designed them to work for you.
It All Started With Our Founder
Like his customers, Les Schwab was a downhome kind of guy. Sure, he owned one of the most successful tire companies in the West, but he also understood how normal families paid the bills and put food on the table. That’s why he created our Retail Payment Plan long before credit cards were used for everything. He could help customers get the tires, wheels and other services they needed with affordable payment plans that didn’t break their budget.
Today, that payment plan Les created has evolved into several options designed to help our customers get what they need today with affordable payments weeks and months down the road.
Credit for Hard-working Folks
Today’s credit plans include our Retail Payment Plan, Equal Pay, and 90-Days Same as Cash. Of course, every account is based on creditworthiness and other qualifications*. Plus, they’re designed to keep things affordable for our customers.
Retail Payment Plan is the most popular. Your minimum monthly payment depends on your ending monthly balance. That means your monthly payment goes down as you pay the balance. Let’s say a customer buys a set of tires that adds up to $400. Their minimum monthly payment would be $50. In just four months, when the balance drops below $250, the new monthly payment would be $25. You can see why it’s a favorite.
| Ending Monthly Balance | Minimum Payment Due |
|---|---|
| $0.01 - $10.00 | Balance |
| $10.01 - $50.00 | $10.00 |
| $50.01 - $100.00 | $15.00 |
| $100.01 - $250.00 | $25.00 |
| $250.01 - $500.00 | $50.00 |
| $500.01 - $1,500.00 | $75.00 |
| $1,500.01 - $2,500.00 | $150.00 |
| Over $2,500.00 | 1/3 of Balance |
Equal Pay is a nice option for those who like consistent, monthly payments and the option to buy more with their line-of-credit. The monthly payments are calculated at 5% of the highest balance on the account. If a person financed $500, their payment would be $25 until it was paid in full.
90-Days Same as Cash is exactly what it sounds like. As long as the balance is paid in full in 90 days, there are no interest charges.
Helping Local Business Succeed
Similar to our plans for families, Les Schwab is proud to offer credit to businesses. These include the Commercial Payment Plan, Equal Pay, and 30-Day Payment Plan.
Commercial Payment Plans allow businesses to get the tires, wheels and services they need for their fleets and other vehicles and only pay 1/3 of the balance each month. As the balance goes down, the monthly payment drops. It’s a great way to manage overhead and keep a business running strong.
Equal Pay for business is an easy-to-use revolving line of credit with monthly payments calculated at 10% of the highest balance on the account.
30-Day Payment Plans are designed for businesses that prefer to pay by invoice and pay their account balance in full each month.
Finance What You Need
Les Schwab financing options are designed to be simple and straightforward for everyone. The application is easy, and using your line-of-credit is even easier at any Les Schwab location. Qualify, and we’ll get you the credit you need to keep your vehicle and budget heading in the right direction.
Les Schwab Is on Your Side
Learn more about your credit options and apply today, with no annual fees or hidden charges. Or stop by any Les Schwab location and ask about flexible financing.
* The Les Schwab Revolving Credit Plan has a fixed rate of 18.0% APR (0.04931% daily periodic rate) and a minimum finance charge of $0.50 or 18.0% APR, whichever is greater, on average daily balances over $10.00.