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          Additional Information

          Not BBB accredited

          Snap Finance

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          This is a multi-location business.

          Find a Location

          Snap Finance has 2 locations, listed below.

          *This company may be headquartered in or have additional locations in another country. Please click on the country abbreviation in the search box below to change to a different country location.

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            • Snap Finance

              1193 W 2400 S Salt Lake Cty, UT 84119-1547

            • Snap Finance

              PO Box 26561 Salt Lake City, UT 84126-0561

            Location of This Business
            1193 W 2400 S, Salt Lake Cty, UT 84119-1547
            BBB File Opened:
            3/21/2013
            Years in Business:
            12
            Business Started:
            5/1/2012
            Business Incorporated:
            5/1/2012
            Type of Entity:
            Limited Liability Company (LLC)
            Alternate Business Name
            • Snap Finance, LLC
            Related Businesses
            Business Management
            • Mr. Mark Allred, Senior Director
            Contact Information

            Customer Contact

            • Mr. Mark Allred, Senior Director
            Additional Contact Information

            Phone Numbers

            Additional Business Information
            Government Actions
            Government Action: BBB reports on known government actions involving business’ marketplace conduct:
            Pennsylvania AG vs Snap Finance LLC
            The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.

            On May 15, 2023, Snap Finance, LLC entered into a settlement with Pennsylvania's Office of the Attorney General. This settles allegations that the business misled consumers about the basics of their contracts, including advertising its rental-purchase agreements and rental-installment contracts as "100-Day Cash Payoffs" when consumers were actually signing a 12-month agreement that included leasing fees equivalent to 152% APR interest.

            Under the terms of the settlement, Snap Finance and its affiliates, Snap RTO LLC, Snap Second Look LLC, and Snap Finance Holdings, LLC was ordered to pay $7,300,000 to consumers as cash restitution payments and another $3,150,000 in consumer debt relief.

            The settlement should not be considered an admission of guilt or a finding of a violation of the law. For more details go to https://www.attorneygeneral.gov/wp-content/uploads/2023/05/2023-05-15-Snap-Consent-Petition.pdf.
            Pending Government Action
            Government Action: BBB reports on known government actions involving business’ marketplace conduct:
            CFPB v. Snap Finance

            The following describes a pending government action that has been formally brought by a government agency but has not yet been resolved. We are providing a summary of the governments allegations, which have not yet been proven.

            On July 19, 2023, The Consumer Financial Protection Bureau (CFPB) sued Snap Finance, LLC alleging that Snap Finance has offered and provided millions of "lease-purchase" and "rental-purchase" financing agreements in ways that have harmed consumers, including through misleading advertisements, insufficient disclosures, and interfering with consumers' ability to understand the terms and conditions of its financing agreements. The CFPB further alleges Snap Finance's illegal conduct continued in its servicing of those agreements, including misrepresenting consumers' payment obligations and making false threats in collections. For more information CLICK HERE. 

            Serving Area
            • UT
            Service Type
            Products and Services
            This company offers consumer lease-purchase and loan financial products offered through third-party retail partners.
            Business Categories
            Financial Services, Loans

            Alert

            See What BBB Reports On

            Accreditation Revocation

            On 08/03/2023 this business's accreditation in the BBB was revoked by the BBB's Board of Directors due to failure by the business to adhere to the BBB requirement that Accredited Businesses meet and abide by the following standards:

            1C. Be free from government action that demonstrates a significant failure to support BBB ethical principles. BBB evaluates the action and makes a determination on adherence to this standard based on the nature of the violation and the extent of harm it caused or is alleged to have caused, whether it was caused or condoned by management, and actions taken to resolve underlying issues that led to the government action.

            Contact Information

            1193 W 2400 S

            Salt Lake Cty, UT 84119-1547

            Visit Website
            (877) 557-3769

            Accreditation

            Revoked BBB accredited business

            Years in Business: 12

            BBB Rating

            A-

            Customer Reviews are not used in the calculation of BBB Rating

            Reasons for BBB Rating

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            When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.

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