Frequently Asked Questions

Yes. You may make lump sum payments toward your loan at any time.

Lump sum payments are applied in the following order: (1) to any late payments, (2) to any outstanding fees, and (3) to the loan principal balance, which helps reduce the overall length of your loan term.

Lump sum payments do not change regular payment amounts, which will continue to be collected according to your contract.

If you would like to discuss, or make a lump sum payment, toward your loan, please contact our office at 289-236-0357 or email customerservice@pfaffleasing.com.

No. We do not permit pre‑payments on lease accounts as they do not reduce the principal balance or provide any interest benefit.

To update your Pre‑Authorized Payment (PAP) banking information, please email a new VOID cheque or a Pre‑Authorized Debit Form to customerservice@pfaffleasing.com, along with the reason for the change.

Payment dates follow the terms outlined in your contract. In limited cases, a payment date change may be possible. Please contact Pfaff Leasing Customer Service at 289‑236‑0357 or email customerservice@pfaffleasing.com for assistance.

For loan accounts: Pfaff Leasing offers monthly, bi-weekly and weekly payment options and changes to your loan payment frequency may be considered on a case‑by‑case basis, subject to account review.

For lease accounts: Only monthly payments are currently accepted. If you have questions, please contact our Customer Service team at 289‑236‑0357 or email customerservice@pfaffleasing.com.

Your loan may be eligible to skip one or more regularly scheduled payments, at Pfaff Leasing's discretion, provided that the loan is in good standing and all payments have been made. Skipped payments will extend the term of your loan contract and interest will be charged at your annual interest rate. The additional interest will be charged on the date of your last payment.

Lease contracts are not eligible for skipped payments. If you have questions, please contact our Customer Service team at 289‑236‑0357 or email customerservice@pfaffleasing.com.

Yes. If the scheduled payment does not clear, Pfaff Leasing will attempt to contact you and then automatically re-attempt the payment approximately 15 days after the original due date. If you would like the payment reattempted sooner, please call 289‑236‑0357 or email customerservice@pfaffleasing.com.

Please call customer service at 289-236-0357. Our team is available to speak with you Monday to Friday from 9 am EST to 5 pm EST.

Once your lease/loan is fully paid and closed, any overpayment will be refunded after internal verification, typically within 10--15 business days.

An administrative/default fee, currently $50.00, is charged for each pre-authorized payment, cheque, electronic funds transfer, or any other form of payment that is returned unpaid, dishonored, or not processed for any reason.

A simple interest loan accrues interest daily from the day the contract is signed until the day the loan is paid in full. Interest is calculated daily on the outstanding loan balance and collected in each scheduled payment. As the loan principal balance decreases, the interest amount included in each payment decreases as well. The loan is amortized so your monthly installment does not change for the life of the loan; however, if payments are received late or you have skipped payments, there is the possibility of a larger-than-usual one-time payment due at the end of the loan.

A closed-end lease allows you to return the vehicle at the end of your term with no obligation to purchase the vehicle. You are responsible for excess mileage, excess wear and tear, and any remaining amounts owing, as outlined in the vehicle lease agreement. The residual value is set at the beginning of the lease and does not change.

An open‑end lease includes a customer guaranteed final residual value, calculated prior to the start of the lease. The Lessee is required to pay the difference if the residual value is more than the wholesale value of the car, as outlined in the vehicle lease agreement. This structure typically functions as a lease‑to‑own arrangement. If you have any questions or concerns, please contact your sales representative/dealership directly.

No. Pfaff Leasing does not currently offer an online customer portal. For account inquiries, please contact Pfaff Leasing Customer Service at 289-236‑0357 or email customerservice@pfaffleasing.com.

You may obtain your loan payout balance by contacting your sales representative/dealership or by contacting Pfaff Leasing Customer Service at 289-236‑0357 or email customerservice@pfaffleasing.com.

Please contact your sales representative at the dealership from where you purchased the vehicle.

A loan/lease amortization statement or a statement of account can be requested by contacting Customer Service at 289‑236‑0357 or email customerservice@pfaffleasing.com.

Yes, a Lease transfer might be possible subject to Pfaff Leasing credit approval. Please contact your sales representative at the dealership from where you purchased the vehicle. Fees may apply.

Please visit www.insuranceonfile.com to securely upload your updated insurance policy.

The minimum required insurance coverage for vehicles are as follows:

• Minimum $1 Million Third Party Liability
• Comprehensive Coverage
• Collision Coverage
• Or All Perils

No. Storage insurance is not permitted for leased vehicles. If the vehicle is financed, please contact us to discuss options at 289‑236‑0357 or email customerservice@pfaffleasing.com.

If your vehicle is involved in an accident and is repairable (was not deemed a total loss), please contact your insurance provider promptly to initiate a claim and arrange for repairs. You should also notify us by phone at 289-236-0357 or email customerservice@pfaffleasing.com.

Yes. Payments must continue until the insurance claim is finalized, and payment is issued to Pfaff Leasing for the outstanding balance--even if they declare your vehicle a total loss.

After initiating your claim with your insurance provider, notify Pfaff Leasing immediately by calling 289‑236‑0357 or email customerservice@pfaffleasing.com.

If a balance remains after insurance proceeds are received, you are responsible to pay the remaining amount by certified funds (Bank Draft or Wire Transfer) immediately.