ADDITIONAL PREMIUMS
The following are the guidelines for calculating the down payment percentage. This is determined
by the number of payments remaining. The account being current for an AP to be processed.
- 1 Payment: Call CAC
- 2-3 Payments: 50% down
- 4 Payments: 40% down
- More than 4 Payments: 30% down
MARYLAND
The following are the guidelines for calculating an insured's first due date in Maryland.
This is determined by the percentage that is
collected at the time the policy is written.
- 10% - 24%: 1st payment due in 20 days
- 25% - 29%: 1st payment due in 25 days
- 30% & over: 1st payment due in 30 days
These due dates begin from the inception date of the policy. In addition, our due dates
are listed on the finance agreement as follows: 1st, 5th, 10th, 15th, 20th and 25th only.
We will choose the nearest date according to the percentage down and the inception date.
The minimum down payment for private passenger vehicles is 10%.
The minimum down payment for MAIF commercial policies is 20%, with a maximum of 9 payments.
For ALL other commercial policies, the minimum down payment is 25%, with a maximum of 9 payments, CERTIFIED FUNDS ONLY !!!.
Please note, these policies do not include taxis, sedans, or any other public vehicles.
Central Acceptance Company accepts down payments as follows:
- Insured - Check and/or credit card for entire down payment
- Producer - Check and/or credit card for entire down payment
- We accept Visa, Mastercard, and American Express
*** For 6 Month Policies, The Following Guidelines Apply ...
- Minimum 40% down payment, first payment due in 30 days
- Maximum of 3 payments
- NO insured checks
VIRGINIA
The following are the guidelines for calculating an insured's first due date in Virginia.
This is determined by the percentage that is
collected at the time the policy is written.
- 15% - 24%: 1st payment due in 20 days
- 25% - 29%: 1st payment due in 25 days
- 30% & over: 1st payment due in 30 days
These due dates begin from the inception date of the policy. In addition, our due dates
are listed on the finance agreement as follows: 1st, 5th, 10th, 15th, 20th and 25th only.
We will choose the nearest date according to the percentage down and the inception date.
The minimum down payment for private passenger vehicles is 15%.
The minimum down payment for commercial policies is 35%, with a maximum of 9 payments.
Central Acceptance Company does not accept split down payments. All down payments must be:
- Insured - Money order or credit card for entire down payment.
- No personal checks will be accepted.
- Producer - Check or credit card for entire down payment
- We accept Visa, Mastercard, or American Express
Please contact CAC if you have any questions regarding our financing
policies.
DISTRICT OF COLUMBIA
The following are the guidelines for calculating an insured's first due date in DC.
This is determined by the percentage that is
collected at the time the policy is written.
- ASSIGNED RISK (DCAIP)
- 15% - 24%: 1st payment due in 20 days
- 25% - 29%: 1st payment due in 25 days
- 30% & over: 1st payment due in 30 days
- STANDARD CARRIERS
- 10% - 24%: 1st payment due in 20 days
- 25% - 29%: 1st payment due in 25 days
- 30% & over: 1st payment due in 30 days
These due dates begin from the inception date of the policy. In addition, our due dates
are listed on the finance agreement as follows: 1st, 5th, 10th, 15th, 20th and 25th only.
We will choose the nearest date according to the percentage down and the inception date.
The minimum down payment for private passenger assigned risk (DCAIP) is 15%.
The minimum down payment for private passenger standard carrier is 10%.
The minimum down payment for commercial policies is 25%, with a maximum of 9 payments CERTIFIED FUNDS ONLY !!!.
Central Acceptance Company does not accept split down payments. All down payments must be:
- Insured - Money order or credit card for entire down payment.
- No personal checks will be accepted.
- Producer - Check or credit card for entire down payment
- We accept Visa, Mastercard, or American Express
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