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Upgrade Moving Loan Disclosure
C
Written by Corey Sayers
Updated over a week ago

*Offers are estimates based on information provided from PODS which only includes one (1) month of storage for the number of containers you requested and is subject to change. Please refer to your Truth in Lending Act Disclosures and your Borrower Agreement for the most up to date estimates about your loan offer.

While PODS does not disclose to us your estimated moving timeline, advances for additional monthly PODS storage fees will be automatically disbursed for up to six (6) months after the date your Loan Account is opened (the “Advance Period”), so long as the additional advance would not cause your Loan to exceed the maximum amount for you which you are approved (the “Maximum Total Amount of Advances”), which will be disclosed in your Borrower Agreement. IF YOUR MOVE IS SCHEDULED FOR MORE THAN 180 DAYS FROM NOW, you will not be able to use this loan to finance your move with PODS. This means that if you store your container(s) for more than one (1) month during the Advance Period:

  • The recurring monthly storage fee will be added to the Principal Amount of your Loan resulting in a Loan amount that is greater than we estimated (i.e., the Anticipated Total Amount of Advances disclosed in your Borrower Agreement and the Amount Financed disclosed in your Truth in Lending Act Disclosures (“TILA Disclosures”));

  • Your Payment Amount will be greater than estimated and disclosed in the TILA Disclosures; and

  • Your cost of credit (i.e., the Finance Charge on your TILA Disclosures) may be higher than what is shown on your TILA Disclosure.

If you store your container(s) beyond the Advance Period or if your financed moving costs exceed the Maximum Total Amount of Advances:

  • You will no longer be able to obtain Advances under your Loan (including for additional monthly storage fees);

  • Your payments will become due as described in your Borrower Agreement and as set forth in any Transition Notice we deliver to you.

  • Any subsequent fees or charges you incur from PODS, including monthly storage fees, will be charged to the payment method you have on file with PODS.

The Loan offer provided above is not guaranteed and is subject to our verification and review process. Loan applicants may be asked to provide additional documents to enable us to verify their income and identity. For Loans that charge interest, the rate provided above includes an autopay APR reduction of 0.5%. By enrolling in autopay, borrowers' payments will be automatically deducted from their bank account. Selecting Autopay is optional. There is no fee or penalty for repaying a Loan early. For more information, applicants should refer to the applicable Borrower Agreement and TILA Disclosure.

Loans may be disbursed in one or more Advances. The Loan terms provided above are estimates based on the assumption that the total order value (i.e., the Principal Amount of the Loan) is disbursed in a single advance upon execution of the Borrower Agreement. Actual Loan terms may vary depending on, among other things, the exact number of Advances, the amount of each Advance, the date on which each Advance will occur, and the number of months you will use your container from PODS.

For example, the borrower receives a loan for the PODS moving estimate amount of $5,000. The loan has a 1-year term and a 0% Annual Percentage Rate (APR). If the container is only stored for one month and loan is disbursed in 3 advances ($750 for initial charges on Day 1, $4,000 for transit on Day 7, and $250 for redelivery on Day 30), the borrower will have a required monthly payment of $416.67.

If, however, the borrower stores their container for multiple months, the loan amount will be increased by the monthly storage fee each month, up to the maximum loan amount. Disbursements will not be made for charges incurred more than 6 months after the loan is opened, even if the disbursement would not exceed the maximum loan amount.

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