FAQ

FAQs

The following is a list of general FAQs related to all plans offered by BigRedRibbon.com. Visit Savings vs. Prepaid to see a side-by-side comparison of the Savings Plan and Prepaid Car Plans.

Q. How do you get such low rates on cars?

A. Just like car rental places, the Federal government, municipalities and large taxi companies,   we buy in bulk through fleet services. This allows us to get deeply discounted pricing that the public cannot get, that coupled with the fact that you are paying the car off over a longer period of time and you are receiving interest on your money as opposed to paying interest allows you to get deeply discounted pricing

Q. Is my money safe, where is it deposited?

A: Your money is held at _______ bank one of the largest banks in the world it is FDIC and SPIC insured and only invested in the lowest risk financial products.

Q. What is your refund policy?

A. 75 percent of your principle balance is refundable at any time. In the case of death, disability or bankruptcy 100% of the principle amount is refundable.

Q. How do you deliver my car?

A. We will deliver your car on a flat bed anywhere in the US. we have relationships with car transport services in all 50 states.

Q. What kind of car can I choose?

A. Just like when you rent a car, you will choose a class of car because sometimes cars go out of production. Electric, Compact, mid size, sedan, convertible. we continue to add more cars every month

Q. When are the contributions/payments due?

A. The Plan allows you to contribute as much as you like, as often as you’d like to the account, so there are no set dates. The first payment date for the Plan is April 20, 2016. For monthly and 5-year plans, payments continue the 20th of each subsequent month until the plan is paid in full.

Q. How do I make my monthly payment?

A. You have multiple options to make a payment or contribution. You can:

  • Mail a check
  • Pay online at www.BigRedRibbon.com
  • Sign up for automatic withdrawal from your checking or savings account.
  • Sign up for automatic payroll deduction with participating employers.
Q: Can I make a down payment to reduce my monthly costs?

A. We do not have an option for a down payment. However, you may choose to pay more than the amount of your monthly payment in order to pay your Prepaid Plan off sooner.

Q: Is there a pre-payment penalty?

A. Absolutely not! There is no penalty for choosing to pay your car off sooner.

Q: Can I only buy a car for a child?

A. No. anyone can sign up for our pay today for tomorrows prices car program