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FUNDING CHECKLIST
Phone: 712-258-0269 Fax: 712-224-5165 Email: [email protected]
Toll Free: 844-283-7483
Application Number: Dealership:
Buyer: Co-Buyer:
All required documents must be included at the time the contract package is submitted. Packages containing inaccurate
or incomplete documents will be placed on hold and verification delayed. Verification will resume once corrected
documents are received. If documents are not corrected within 5 days the package will be returned.
Please complete the checklist, and send with funding packet to: U Drive Acceptance Corp
Attn: Funding
For questions please contact our funding team at: 1119 4th St Suite #102
Toll Free (844)-283-7483 or [email protected] Sioux City, IA 51101
# Required Documents x
1 U Drive Funding Checklist This form completed and signed by dealer representative preparing funding packet
2 Approval Form Copy of approval callback
Original required; must be assigned to U Drive Acceptance Corp
Note: Any contract packages with deferred down payments will be returned immediately.
Federal Notice to Co-signer required in all states -- State Specific Notice to Co-signer
5 Consent and Authorization Form Required to complete employment verification
6 Bookout Sheet Accurately reflecting all vehicle options
7 Buyer's Order / Bill of Sale Copy must be signed by all buyers
U Drive Acceptance Corp, PO Box 3107, Sioux City, IA 51102 (No Branded Title Allowed)
9 Odometer Disclosure Odometer reading as verified on disclosure must be consistent on all applicable documents
10 Credit Application Required to be completed by each applicant, must be original, completed, and signed
11 Vehicle Service and GAP Contracts Original document; i.e., ValueGuard Service Contract, GAP
12 Driver's License Valid copy of in state license required for each applicant
W-2 employee: Two most recent computer generated pay stub within 30 days of contract
Proof of Income 1099 employee: Six most recent consecutive months complete personal bank statements
& Down Payment Decision Logic for 1099 Buyers Proof of full down payment needed prior to funding
Fixed income employee: Proof of Eligibility (Award / Benefits letter) and Proof of Deposits
Proof of full down payment required (Complete bank statements or copies of cancelled checks or state / federal statements
prior to funding reflecting payment for the most recent consecutive three months of receipt)
Two documents within 30 days of contract date matching the contracted applicant name
& address -Utility/ cable bill/ bank statement/ credit card statement/ valid driver's license
Direct Landlord Contact Landlord Name:
Required for all non-homeowners Landlord Phone Number: ______________________________________
Proof of Insurance/ Insurance Binder/ Declaration page listing
Agreement to Provide Insurance contracted vehicle with Loss Payee: U Drive Acceptance Corp
(U Drive Listed as additional PO Box 3107
insured, $500 max deductible) Sioux City, IA 51102
17 Physical Damage Insurance Requirement Completed and Signed by the Borrower and Co-Signor
18 Reference Sheet Five references including: Name, relationship, address, and unique contact number for each
19 ACH Authorization Form Authorization to set up automatic payments from Savings or Checking Account
20 Valid Email Address Buyer's Email Address:
21 U Drive Specific Documents
22 Notice of Lein/Guarantee of Title NOL (MO & AR) Guarantee of Title for all other states
23 GPS Disclosure (if applicable) Shipped with GPS Unit
All Job Time, Residence Time, Income and Book Value Must Verify as stated on the application at time of funding.
Representative from dealership who prepared funding package:
Dealership Contact Signature: Contact Name:
Dealership Phone Number: Contact Phone Number:
Internal Use Only Date Received: Dealer Hold:Yes____ No____
Related Document Notes
Retail Installment Contract3
13
4 Notice to Co-signer (if applicable)
Contracted structure must match approval; All signatures for Buyer(s) and Sellers must be present; Names on
legal documents must match the name as it appears on the driver's license.
45 Day Guarantee of Title; Assignment Agreement; Customer Delivery Notice;
Customer Privacy Notice; Customer Power of Attorney; Mobile Alerts Form
16
8 Title Application / Proof of Title
14 Proof of Residence
15
45 DAY UNCONDITIONAL GUARANTEE OF TITLE
And
(Hereinafter referred to as “DEALER” and/or “SELLER”)
Between: U Drive Acceptance Corp
(Hereinafter referred to as “LENDER” and or “UDAC”)
This Guarantee of Title dated this Day of Year By and
For value received, the undersigned Dealer hereby unconditionally guarantees to Lender that Dealer shall be responsiblefor furnishing Lender satisfactory proof that Lender’s first priority security interest in the below identified vehicle istimely perfected, by providing Lender the original certificate of title listing Lender as the lienholder, and is not avoidable by any party or entity, including, without limitations, a trustee in a bankruptcy proceeding. In the event the Dealerdoes not, for any reason, deliver said title certificate as described above to Lender within 45 days from the date ofthis Guarantee, the Dealer shall repurchase the associated Contract and pay Lender immediately on demand, in U.S.currency, the full amount owed on this vehicle or give Lender (at Lender’s sole discretion) the option to use their ownjudgment in obtaining said title certificate at the expense of the Dealer. Dealer further agrees that if Dealer fails to comply with the repurchase demand as set forth above, Lender may obtain the certificate of title by any alternative means, may sell the vehicle and still hold Dealer responsible for the full amount of the repurchase amount with credit being given for the net amount received by Lender in connection with the sale of the vehicle. Dealer agrees to pay anyand all costs to enforce this Guarantee of Title, including, but not limited to,reasonable attorney’s fees.
U Drive Acceptance Corp • 1119 • 1119 4th Street Ste 102 • P: 712.258.0269 • F: 712.224.5165
CONSUMER NOTICE OF YOUR FINANCIAL PRIVACY RIGHTS
How We Gather InformationIn connection with providing financial products or services to you, we collect nonpublic and personal information("Nonpublic personal information"). Nonpublic personal information is information that is not available from a publicsource. We obtain nonpublic personal information about you for the following sources:
o Information we receive from you on applications, loan and account forms;o Information concerning your transactions with us, our affiliates or others; and;o Information we receive from third parties such as credit bureaus.
B. Information We Disclose and Who We Share it With We do not disclose any nonpublic personal informationabout our customers or former customers to anyone, except as permitted by law.
C. Former CustomersIf you close your loan with us or you become an inactive customer, we will continue to adhere to the privacypractices described in this notice.
D. Our Security ProceduresWe restrict access to nonpublic personal information about you to our employees, agents, and subcontractorswho need this information to provide products or services to you. We maintain physical, electronic orprocedural safeguards that comply with federal regulations to guard your nonpublic personal information.
E. Your Choices Regarding Information SharingWe are permitted under law to (and in some cases must) disclose nonpublic personal information to"nonaffiliated third parties" in certain circumstances. For example, we may disclose nonpublic personalinformation to process your transaction at your request, to control fraud and identity theft, to make certaininformation a matter of public record such as in credit bureaus and to government entities in response to suchthings as subpoenas. Other than these disclosures which are permitted by law or are authorized and directed byyou to process your transaction with us we do not disclose and may not disclose nonpublic personal informationwithout your consent.
Buyer signature: X Date: X
Co Buyer Signature: X Date: X
Protecting your privacy is important to U Drive Acceptance Corp,. ("UDAC”) is referred to in this notice as "we", "us" and"our"). We understand that you expect your personal information to be confidential and secure. This notice will help youunderstand what information we collect about you, how we use it and how we protect it. In addition, this noticedescribes your right to prevent information from being shared with any affiliates or non-affiliates (under certaincircumstances).
U Drive Acceptance Corp • 1119 4th Street Ste 102 • Sioux City, IA 51101 • P: 712.258.0269 • F: 712.224.5165
Customer Irrevocable Power of Attorney For Motor Vehicle Forms
The Customer agrees that the Attorney will not be responsible for any error, negligence, or for any sort of act or omission not amounting to gross negligence or willful misconduct and the Customer will indemnify, defend and hold the Attorney harmless from any and all actions, claims, demands or liabilities for any nature whatsoever which the Customer may have or will have against the Attorney arising out of the performance of its functions for and on behalf of the Customer pursuant to this Irrevocable Power of Attorney.
VEHICLE: Year, Make & Model VIN
IN WITNESS WHEREOF, The Customer(s) has caused this instrument to be executed by a duly authorized
representative effective as of the date set forth below.
Customer 1 Name:_
Customer 1 Address:_
As Agreed:
Customer 1.
Customer 2 Name:_
Customer 2 Address:_
As Agreed:
Customer 2.
KNOW BY ALL THESE PRESENTS THAT ______ (”Customer(s)”) with a residential address set forth below, hereby irrevocably appoints and authorizes U Drive Acceptance Corporation (“Attorney”), with offices at 1119 4th Street Street #102, Sioux City, IA 51101, to act as the Customer(s)’s attorney-in-fact, such power being coupled with an interest, with full authority in the place and stead of the Customer(s) and in the name of the Customer(s) or otherwise, for the sole purpose of (a) preparing, executing and filing in the C ustomer (s) ’ s name any original claim forms, motor vehicle title forms, motor vehicle lien assignment forms and other such motor vehicle lien forms (hereinafter referred to collectively as (“Motor Vehicle Forms”) as the Attorney may deem necessary pertaining to a Vehicle (as identified below) which Customer(s) has purchased by way of a reta i l installment sales contract (Referred to as “Contract”) for such Vehicle which will be / has been assigned to U Drive Acceptance Corp, and, (b) exercising the rights of Customer against such vehicles and under the related Contract.
U Drive Acceptance Corp • 1119 4th Street Ste 102, Sioux City, IA 51101 • P: 712.258.0269 • F: 712.224.5165
U Drive Acceptance Corp | www.udriveac.com | P 712.258.0269 | F 712.224.5165
U Drive Acceptance Corp
1119 4th Street, Ste 102
Sioux City, IA 51101
Consent and Authorization Form
Residence Verification
In connection with my credit application submitted to U Drive Acceptance Corp and/or any of its
affiliates, or in connection with my retail installment contract, the undersigned hereby consents and
authorizes any person, entity, current employer, future employer, prior employer, and all others to
release and/or disclose personal information, employment information and/or credit information
concerning the undersigned. I also hereby permit U Drive Acceptance Corp to authenticate and confirm
valid residential information including but not limited to Landlord name, number, leasing terms &
conditions. U Drive Acceptance Corp is permitted to contact all required parties to verify residence.
I hereby release any such person, entity, current employer, prior employer, and all others from
any and all liability that may result in furnishing the information. I also release U Drive Acceptance Corp
and any person, entity, current employer, prior employer, and all others from any obligation to provide
the undersigned with written notification of such release and/or disclosure of such information.
I also consent to and authorize U Drive Acceptance Corp use of all original or copies of this
executed form as valid consent and authorization.
My signature below certifies that I have read, that I understand, and that I have voluntarily
executed this form.
Buyer Full Name:
Buyer Signature:
Date:
CoBuyer Full Name:
CoBuyer Signature:
Date:
Buyer Co-Buyer
______________________________ Printed Name
______________________________ Signature
Date:____________________
____________________________ Printed Name
____________________________ Signature
Date:____________________
Stay on top of your account by signing up for U Drive Mobile Alerts!
______________________________________________
U Drive provides a variety of ways to get a hold of us, to get up-to-date account information, to make your
payment, receive friendly payment reminders, and gain access to various offers. We make it easy by using
contact information already provided on the application to keep in touch with you and provide you with
the best possible customer experience.
I authorize U Drive Acceptance Corp (“U Drive”) to contact me concerning my account (following
assignment of my contract by the dealer to U Drive) at any telephone number or email address associated
with my account, including by use of an autodialer or predictive dialer. I will notify U Drive if my cell phone
number or e-mail address changes and this authorization will continue to apply.
I understand: my wireless provider may charge me for messages; I am not required to provide this
authorization and I am doing so voluntarily; I may cancel this authorization at any time by calling or writing
to U Drive at the phone number or address provided above; and I will receive a copy of this authorization
for my records.
U Drive Acceptance Corp • 1119 4th Street Ste 102 • Sioux City, IA 51101 • P: 712.258.0269 • F: 712.224.5165
No thanks! I prefer not to receive offers and reminders via text, email or autodialer.
AUTO PAY - CREDIT AND DEBIT CARD
AUTHORIZATION AGREEMENT
Please read and complete this Authorization Agreement:
By signing this Authorization Agreement, I authorize U DRIVE ACCEPTANCE CORP.,(“UDAC") to initiate recurring electronic debit entries in the amount listed below ("Payment Amount") from my account at the financial institution named below ("Bank") on the dates described below, and to apply such funds as payments on my motor vehicle retail installment contract ("Contract") with UDAC . In addition, by signing this Authorization Agreement, I understand and agree to the following:
The Payment Amount listed below does not include any late fees, NSF fees, or other amounts which may become due under my Contract. I authorize UDAC to initiate debit entries for amounts including both the Payment Amount and any applicable fees pursuant to the terms of my Contract.
If I do not indicate a day of the month for the Payment Amount to be debited from my bank account, the payment date will be the monthly payment due date set forth in my Contract, or as modified by an approved Due Date Change Request Form. If any payment date falls on a weekend or Federal banking holiday such that UDAC is unable to process the debit entry, my payment will be posted to my account with UDAC on the next business day.
If UDAC becomes aware of any erroneous debit entries, UDAC will initiate transactions to correct the errors.
If any debit entry is dishonored or returned unpaid by my Bank for any reason, I authorize UDAC to resubmit the debit entry
up to two additional times within the next 30 days, and I acknowledge that UDAC may charge a return item fee and/or late
charge to my UDAC account, to the extent allowed by law and/or my Contract. I also acknowledge that my Bank may impose its own additional fees according to my account agreement with my Bank.
If my bank account information changes at any time, I shall immediately notify UDAC of such change.
The origination of ACH transactions (debit entries) to my account must comply with and will be governed by the provisions of applicable law(s) and rules of the National Automated Clearing House Association.
UDAC's authority to draft the automatic payments will remain in full force and effect until one of the following occurs:
1. I provide UDAC notice to the address below 7 days prior to the original scheduled payment date of my wish to
change the scheduled payment date, such as by requesting and submitting a Contract Modification Form;
2. I provide written notice to UDAC at the address below of my intent to revoke this Authorization no less than 7 business days prior to the next scheduled withdrawal date;
3. I am notified by UDAC of its intent to discontinue receiving payment from me in this manner for any reason; or
4. All amounts owed to UDAC under my Contract are paid in full.
I understand that this Authorization is purely voluntary and is not a condition to UDAC's extension of credit. I agree not to dispute any debit entry made in accordance with the terms of this Authorization Agreement.
Borrower Printed Name: ____________________________ Co-Borrower Printed Name: ____________________________ Borrower Signature: _________________________________ Co-Borrower Signature: ________________________________
Address: _________________________________________ City/State/Zip: _________________________________________
Phone: ___________________________________________ Date: ____________________________
1
PHYSICAL DAMAGE INSURANCE REQUIREMENT ADDENDUM TO
THE RETAIL INSTALLMENT SALES CONTRACT
Your retail installment sales contract requires that you obtain and provide evidence of physical damage insurance naming U Drive Acceptance (“CREDITOR”, “us” or “our”) as loss payee (the “required insurance”) and that the required insurance must be in force during the entire term of your retail installment sales contract. You may obtain required insurance from any licensed insurance agent and/or authorized insurance company of your choice. Failure to obtain the required insurance on your own or to keep it in force consistent with the above constitutes a default under the retail installment sales contract, which gives CREDITOR the right to repossess your vehicle or to purchase our own insurance to protect our interest and to charge all costs of that insurance to you.
If you do not provide evidence of required insurance, CREDITOR may satisfy the insurance requirement of the retail installment sales contract by insuring CREDITOR’s interest in your vehicle under our Creditor Placed Insurance (CPI) policy. The CREDITOR's cost of this coverage will be charged to you, and if any part of the cost is financed by CREDITOR, that amount will accrue interest at the rate stated in your retail installment sales contract. Other important terms and conditions of our CPI policy include the following:
1. CREDITOR is the Insured. Our CPI policy provides single interest coverage to us and does not directly protect your interest in the same way as your own insurance would. Claim payments made under our CPI policy will be made to CREDITOR and will be credited to your retail installment sales contract balance or used to repair your vehicle at CREDITOR’s sole discretion. In the event of a covered loss, our CPI policy will pay the lesser of (1) the cost to repair or replace your auto, (2) the actual cash value of your auto or (3) the Outstanding Net Balance of your retail installment sales contract on the date of loss. The Outstanding Net Balance means the outstanding contract balance less the following: payments more than 90 days past due; unearned insurance, finance and other charges appropriate for the retail installment sales contract; and charges and penalties added after the effective date of our CPI policy coverage. The salvage value of the covered auto at the time of loss is deducted from any payment made under our CPI policy. Also, a deductible (as shown below) applies to each loss. The insured auto is described below. In the event of a loss, notify CREDITOR.
2. The premium that will be charged to your account may be more expensive than required insurance purchased by you, and our CPI policy coverage may expire before your retail installment sales contract is paid off.
3. Licensed insurance agents may receive compensation from part of the premium charged to your retail installment sales contract for our CPI policy coverage.
4. You may cancel coverage under our CPI policy at any time by purchasing your own required insurance from an agent of your choice and providing us evidence of required insurance. The unearned portion of the premium, if any, will be credited to your account.
5. The CPI policy does not provide bodily injury or property damage liability insurance. You must obtain this coverage on your own.
6. Coverage will be placed thirty (30) days after the date of your retail installment sales contract and will be retroactive to the date of the retail installment sales contract. However, if you provide evidence that you have obtained required insurance on your own at any time during the first thirty (30) days of the retail installment sales contract, you will not be charged.
Our CPI policy is designed to fulfill the insurance requirement of the retail installment sales contract and protect only CREDITOR’s interest in the vehicle securing the retail installment sales contract. You may purchase your own physical damage insurance from an agent or company of your choice at any time and this coverage will be immediately cancelled.
2
By initialing below, I agree: ______ That I have obtained required insurance through an insurance agent and/or insurance company of my own choosing and will provide evidence of that insurance before taking possession of my auto. In the event that such coverage cancels, expires, or non-renews at any time and I fail to replace such coverage, I understand that CREDITOR, at their sole discretion, may add my vehicle to their CPI policy to protect their interest and add the cost of such insurance to the balance of my retail installment sales contract, bearing interest at the rate specified within the retail installment sales contract; I understand if my vehicle is added to their CPI policy that the coverage can be cancelled with no further notice if I fail to make the required payments. I understand that this limited physical damage insurance coverage does not include liability coverage and that I have or will obtain liability insurance from an agent or company of my choice.
In the event of a loss or damage to the vehicle, I must notify CREDITOR. Except at my own risk and expense, I will not repair or authorize repair of the vehicle prior to CREDITOR’S representative inspecting and appraising the vehicle. All repairs will be done by or through CREDITOR with no exceptions.
Collateral:
Year Make and Model VIN
Contract:
Amount Financed Deductible Amount
$500.00
CPI Cost: CPI cost is based upon the amount finance and the frequency of payments. Please see below. For contracts with the amount financed balance of less than $11,000: $48.00 per vehicle per payment period – 26 bi-weekly payments per year $52.00 per vehicle per payment period – 24 semi-monthly payments per year $104.00 per vehicle per payment period – 12 monthly payments per year
For contracts with the amount financed balance equal or greater than $11,000: $30.00 per vehicle per payment period – 26 bi-weekly payments per year $60.00 per vehicle per payment period – 24 semi-monthly payments per year $130.00 per vehicle per payment period – 12 monthly payments per year Coverage Period: Based upon the payment period of the retail installment contract, renewing automatically from payment period to payment period until cancelled.
I have read and understood this document and acknowledge receipt of a completed copy of this form. I agree that any refund of unearned premium shall be credited to the unpaid balance of my retail installment sales contract. This form is attached to and becomes part of the retail installment sales contract.
_____________________________________________________ ____________________________________________________ Borrower (Buyer) (PRINTED) Date Borrower (Buyer) (SIGNATURE) ______________________________________________________ ____________________________________________________ Co-Signer Name (PRINTED) Date Co-Signer (SIGNATURE)
Anyone else whose signature is required to withdraw funds from this checking/savings account must sign below:
Account Information
Name of Financial Institution:
Routing Number:
Account Number: ☐ Checking | ☐ Savings
Signature
Authorized Signature (Primary): Date:
Authorized Signature (Joint): Date:
Please attach a voided check or deposit slip to this form and return to:
U Drive Acceptance Corp. Attn: Auto Pay P.O. Box 3107 Sioux City, IA 51102 Or Fax to: (712) 224-5165
U Drive Acceptance Corp
PO Box 3107
Sioux City, IA 51102
(712)258-0269
In connection with my retail installment contract submitted to U Drive Acceptance Corp and/or
any of its affiliates, the undersigned hereby agrees to pay the tax, title and license fees associated with
the purchase of the vehicle within the contract, if not stated as already being part of the agreed upon
financed amount.
Due to the requirements of the state of Missouri, these fees are required to be paid 30 days
from purchase of the vehicle. Failure to pay the required fees may result in additional fees.
My signature below certifies that I have read, that I understand, and that I have voluntarily
executed this form.
Dealership Name:
Vehicle Year, Make, and Model:
Buyer Full Name:
Buyer Signature:
Date:
CoBuyer Full Name:
CoBuyer Signature:
Date:
T
Missouri Onlyax, Title and License Agreement
Disclosure Statement (Required in State of Pennsylvania Only)
The buyer’s purchase of specific items related to acquiring the motor vehicle, including incidental items such as servicecontracts, warranties, debt cancellation agreements, debt suspension agreements and insurance products not requiredby Section 17 of the Pennsylvania Motor Vehicle Sales Finance Act, but excluding options and accessories physicallyattached to the vehicle, is voluntary and is not required as a condition of the applicant buyer’s receiving the installmentsale contract loan.
By signing below, I acknowledge receiving a copy of this disclosure before I signed any the installment sale contract loan.
Buyer Signature Date
Co Buyer Signature Date
U Drive Acceptance Corp • 1119 4th Street Ste 102 • Sioux City, IA 51101 • P: 712.258.0269 • F: 712.224.5165
