Customer can apply in store, online, or via text message (Text 14110 to 37981)
Needs a valid ID
At least 18
Income of at least $1000 per month
Checking account open for at least 30 days
A social or tax ID
Application only good for 30 days.
If the Add Lease button is available, they are able to create a new agreement.
If it is not available customer has to add new items to existing contract, this doesn’t change their 90 days.
How it Works:
All contracts are written for 12 months
There’s a $30 + tax application fee that has to be charged prior to delivery. The card used to pay the app fee with is the secondary form of payment on the account. It doesn’t have to be linked to the customers account for payments.
Customer gets a minimum payment based off their finance total
Payment frequency is determined based off how customer put they got paid on application. Payment frequency can only be changed through Kornerstone and they need to submit documents showing the pay frequency to be able to change it.
After receiving their merchandise customer must call into Kornerstone and ask to be put on the 90 day pay off plan, failure to do this results in them not being able to pay off without leasing fees.
Lease is discounted if the customer pays off before the full 12 months. The sooner they pay off the less they will pay.
Processing an Application:
Customers are responsible for filling out their own applications
If you put in a new address, they will not be approved.
The amount of money you make does not determine your approval.
Approved: They are eligible for an automatic increase, to get additional funds text Ben at Kornerstone
Ineligible: Some of the information put on the application does not match the public record associated with this customer. This includes:
Phone number/address/email/acct info incorrectly typed
Number/address doesn’t belong to the customer
Customer has just moved to the address provided
Denied: Applications cannot be overturned.
Once the application is processed the customer needs to pick out their merchandise in order to finish the transaction.
RETURNS AND EXCHANGES:
Returns and exchanges are not allowed unless approved
Customer is not allowed to pay restock or re-delivery fees on Kornerstone contract.
Customer can return the merchandise to Kornerstone with no penalties
We are unable to edit contracts after delivery