ORLANDO, Fla. – US Equity Advantage (USEA) is now licensed in Mississippi, New York, Tennessee and Washington, D.C., bringing to 37 the number of states in which the company offers is AutoPayPlus biweekly loan acceleration service. Additionally, it is the only F&I biweekly loan service provider operating with a money transmission license in New York, by far the safest structure of money transmission for dealers.   USEA is the leading provider of accelerated loan payment programs for the automotive industry. Since 2003, nearly 200,000 consumers nationwide have enrolled in the company’s AutoPayPlus automated payment service that makes it easy for car buyers and other consumers to shorten the terms of their loans while reducing interest charges and accelerating equity. The most popular payment plan is biweekly because that’s how most people are paid.   AutoPayPlus adds value to the vehicle purchase by helping customers afford more F&I products, such as extended service contracts and GAP insurance, by breaking down the loan amount into smaller payments that coincide with the customer’s pay cycle. A 10-year analysis by USEA found that dealerships sell approximately one-half to two-thirds more F&I products on biweekly deals as opposed to standard retail deals by utilizing this payment structure.   AutoPayPlus works using simple math. Standard loans require one payment every month. Biweekly loan payments divide this payment in half and debit that amount every two weeks. Because there are 52 weeks in a year, the borrower makes 26 biweekly payments over the course of a year (the equivalent of 13 monthly payments) with the extra payments applied to the principal. That extra month’s payment per year can reduce interest charges, shorten the term of the loan and accelerate the optimum time to trade their vehicle.   “Gaining money transmission licenses in these four additional states allows us to expand our ability to provide auto dealers with a tremendous F&I asset in the very competitive dealership environment,” said Robert Steenbergh, CEO of US Equity Advantage. “New York, in particular, has an extremely stringent and lengthy licensing process, as well as new provisions regarding cybersecurity. Currently, US Equity Advantage is the only automated loan payment service for dealers licensed to transmit money in the state, which allows us to give a dealer a much greater level of protection.”   In addition to Mississippi, New York, Tennessee and Washington, D.C., USEA is also licensed in the following states: Arizona, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Pennsylvania, Rhode Island, Vermont, Virginia, Washington and West Virginia. The company also does business in Indiana, Massachusetts, Montana and South Carolina; states that do not require a license at this time.