Can anyone join savings.club?

We ask for your Social Security Number as a part of an authorization request to conduct a credit check. This is optional and you can still fully participate in a club without a credit check or providing a Social Security Number.

What is an EAPR and what’s the difference between traditional loan APR?

With traditional loans, APR is an annual rate calculated based on fees you pay to secure the loan. Here at savings.club we use EAPR (Equivalent Annual Percent Rate) where you only pay for your vehicle and administrative fees. Our administration fees are used to keep up savings.club's infrastructure and EAPR means no compounding interest, ever.

Why is savings.club so much cheaper than traditional financing?

With savings.club, you only pay what you need to. All of the hidden fees and costs you pay with traditional loans aren’t a factor in our pricing. You’ll only ever pay for your car and administration fees so that we can properly run your club.

When will I get my car?

You can pick out a car from any dealership once you’ve received a credit voucher. Your eligibility for a voucher is dependent on your savings score. You can increase your score the more you make on time payments. The higher it is, the sooner you can receive your voucher and buy a car. The voucher works just like cash, so you can drive off the lot with your car once you decide which one is best for you.

The vehicle price went up since I joined the club. What should I do?

Written by Adriano Marques

< 1 min read • Published March 15, 22

Whenever there are significant changes to vehicle prices on the market, the administrator will suggest to Club members that an increase in the Club value might be needed. Club members will then get to vote on whether to raise the Club value to match the current market, or whether to continue with the original value. The majority will decide the direction of the Club and, if an adjustment is in order, all fees and balances will be adjusted accordingly so that members have their purchase power matched with the current market conditions.

Read full Bio

Adriano Marques

CEO at XNV

Know more

how to puchase a car with a bad credit score

Mar 12 Credit

The vehicle price went up since I joined the club. What should I do?

Adriano Marques

Contents

Know more

Financing a Car With Bad Credit

Build Your Credit Score in 5 Simple Steps

Savings Club: The Best Way to Finance your Next Vehicle

The product

Support

Learn with us