[Elective Guide] - Down Payments and Geographic Coverage

There are two important items to note before we dive into the rest of the onboarding guide.

1. Down Payments: At the core, Elective does not charge customers any interest, late fees, or penalties. We have designed Elective to be the most consumer-friendly payment option and in turn, we drive higher conversions and average order values for your business. With that said, down payments are a critical way for us to manage risk and ensure customers get access to payment plans that they can comfortably afford. Today, down payments can range from 10% to 30% and the range is dependent on a combination of: (1) the risk assessment we conduct on the customer, (2) the length of the payment plan, and (3) the price of the product being checked out. Please note: the down payment is the first payment as part of a Elective payment plan. For example, a 12-month payment plan would have 1 down payment and 11 installment payments thereafter.
   
   
2. Geographic Coverage: We are currently operational across Canada and the United States with the exception of California. We are actively working to ensure we are live in the state in 2024. For greater clarity, we are not able to support customers that reside in California at this time.