International Motor Group is a vehicle financing and leasing company, not a bank or government program

International Motor Group (IMG) is a private company that finances and leases vehicles to consumers and businesses. It is not a government benefit, a bank, or a credit union. IMG purchases vehicles and then leases or finances them to customers who may not may have access to for traditional bank loans or who prefer a lease arrangement. The company operates in multiple states and handles its own underwriting, payment processing, and vehicle management.

IMG is one of several non-bank lenders in the vehicle financing space. Unlike a traditional auto loan from a bank or credit union, an IMG lease or finance agreement means IMG retains ownership of the vehicle until the contract ends or the customer completes all payments. This structure affects your rights, your ability to modify or sell the vehicle, and what happens if you stop paying.

Key Takeaways

  • International Motor Group finances and leases vehicles directly to consumers; it is a private company, not a government program or traditional lender.
  • IMG leases mean the company owns the vehicle, you pay monthly, and you return it at the end of the lease term or buy it if the contract allows.
  • Finance agreements through IMG work more like traditional auto loans, but IMG sets its own terms, rates, and underwriting rules.
  • Your payment obligations, insurance requirements, and mileage limits depend on whether you are leasing or financing and what your specific contract states.
  • If you fall behind on payments, IMG can repossess the vehicle; the process and your options vary by state and contract language.

How IMG leases differ from traditional car loans

When you lease a vehicle through IMG, you are paying for the right to use the car for a set period—usually two to four years—rather than buying it outright. IMG owns the vehicle throughout the lease. At the end, you return it to IMG, and the lease ends. You do not build equity in the car the way you do with a loan.

Leases typically come with mileage limits, often 10,000 to 15,000 miles per year, though this varies by contract. If you exceed the mileage limit, IMG charges a per-mile overage fee at the end of the lease. You are also responsible for normal wear and tear; excessive damage may result in additional charges when you return the vehicle. Some IMG leases include maintenance and insurance; others do not. Your contract will specify what is covered.

A traditional auto loan, by contrast, means you own the vehicle once you pay it off. You can drive as many miles as you want, modify the car, and sell it whenever you choose. With IMG financing (as opposed to leasing), you own the vehicle once the loan is paid in full, but IMG holds a lien on the title until that happens.

IMG financing agreements and payment terms

IMG also offers direct financing, where you borrow money to purchase a vehicle and IMG holds the title until you pay off the loan. This is closer to a traditional auto loan but comes from a non-bank lender. IMG sets its own interest rates, down payment requirements, and loan terms. These may differ significantly from what a bank or credit union would offer, and rates can be higher if you have limited credit history or a lower credit score.

Financing terms through IMG typically range from 24 to 72 months, depending on the vehicle, your down payment, and your creditworthiness as assessed by IMG's underwriting. Your monthly payment covers principal, interest, and sometimes a loan fee. Some IMG contracts include gap insurance, which covers the difference between what you owe and the vehicle's value if it is totaled; others do not. Read your contract to confirm what is included.

IMG financing agreements usually require you to carry comprehensive and collision insurance, with IMG named as a lienholder on the policy. You must maintain this insurance throughout the loan term. Failure to do so can result in IMG purchasing insurance on your behalf and charging you for the premium, which is typically more expensive than what you would pay independently.

What happens if you miss an IMG payment

Missing a payment on an IMG lease or finance agreement can trigger a series of consequences. Most contracts allow IMG to begin collection efforts after a single missed payment, though many companies wait 30 to 60 days before taking formal action. During this period, you may receive phone calls, emails, or letters asking you to bring your account current.

If you remain delinquent, IMG can repossess the vehicle. Repossession laws vary by state, but in most places IMG does not need a court order to repossess; it can straightforward take the vehicle if you are in default. Some states require IMG to provide notice before repossession; others do not. After repossession, IMG typically sells the vehicle at auction. If the sale price is less than what you owe, you may be responsible for the difference, called a deficiency. Some states limit or prohibit deficiency judgments; others do not.

If you are struggling with payments, contact IMG directly as soon as possible. Some companies offer payment deferrals, loan modifications, or hardship programs, though these are not may provide. The sooner you reach out, the more options may be available to you.

How IMG underwriting and approval works

IMG uses its own underwriting process to decide whether to finance or lease a vehicle to you and at what rate. Unlike some traditional lenders, IMG may work with people who have limited credit history, recent bankruptcy, or lower credit scores. This can make IMG an option when banks decline you, but it usually means higher interest rates and stricter terms.

IMG typically pulls your credit report, verifies your income, and may require a down payment. The size of the down payment affects your monthly payment and the interest rate you receive. A larger down payment usually results in a lower rate and lower monthly payment. IMG may also require proof of insurance before releasing the vehicle to you.

The approval process can take anywhere from a few hours to several business days, depending on how quickly you provide documentation and how busy IMG's underwriting team is. Once approved, you will receive a contract outlining all terms, rates, fees, and your obligations. Read this carefully before signing; it is a binding legal agreement.

Your rights and responsibilities as an IMG customer

As an IMG customer, you have the right to receive a clear, written copy of your lease or finance agreement before you sign it. You have the right to know the total amount you will pay, the interest rate (if financing), any fees, and the terms under which IMG can repossess the vehicle or end the lease early. You also have the right to dispute errors on your account and to request a payment history.

You are responsible for maintaining the vehicle in good condition, paying all agreed-upon payments on time, carrying the required insurance, and following any mileage or usage restrictions in your contract. If you lease, you are responsible for normal wear and tear; if you finance, you are responsible for all maintenance and repairs once the warranty expires. Failure to meet these obligations can result in additional charges, repossession, or legal action.

If you believe IMG has violated your rights or treated you unfairly, you can file a complaint with your state's attorney general, your state's banking or financial regulation agency, or the Consumer Financial Protection Bureau (CFPB). These agencies investigate complaints and can take action if they find violations of consumer protection laws.

Comparing IMG to other vehicle financing options

IMG is one option among many for vehicle financing and leasing. Banks and credit unions typically offer lower interest rates if you have good credit, but they may decline you if your credit is poor or limited. Dealership financing is often easier to obtain but can carry higher rates and less favorable terms. Lease companies and other non-bank lenders like IMG fill a middle ground, offering financing to people banks decline while charging higher rates than traditional lenders.

Before choosing IMG, compare offers from at least one bank or credit union and one other non-bank lender. Ask about interest rates, down payment requirements, monthly payments, fees, insurance requirements, and what happens if you miss a payment. The lowest monthly payment is not always the best deal if it comes with a high interest rate or hidden fees. Calculate the total cost of the vehicle over the life of the loan or lease, not just the monthly payment.

Frequently Asked Questions

Can I end an IMG lease early?

Most IMG leases allow early termination, but you will owe an early termination fee, which can be substantial. The fee is usually calculated based on how much of the lease term remains and the vehicle's current value. Review your lease contract for the exact early termination clause and fee structure before signing.

What if I want to buy the vehicle at the end of an IMG lease?

Some IMG leases include a purchase option that allows you to buy the vehicle at the end of the lease term for a predetermined price. Not all leases offer this option. Check your contract to see if a purchase option is included and what the buyout price is.

Does IMG report to credit bureaus?

Yes, IMG reports payment history to the three major credit bureaus (Equifax, Experian, and TransUnion). Making on-time payments can help build your credit; missed or late payments will hurt your credit score. This is true whether you are leasing or financing through IMG.

What if the vehicle breaks down during my IMG lease?

If your lease includes maintenance and warranty coverage, IMG or the dealership will handle repairs at no cost to you. If your lease does not include coverage, you are responsible for repair costs. Check your lease agreement to see what is covered and where you can take the vehicle for service.

Can IMG sue me if I stop paying?

Yes. If you default on an IMG lease or finance agreement, IMG can repossess the vehicle and, depending on your state's laws, may also sue you for the deficiency (the difference between what the vehicle sells for and what you owe). Some states limit or prohibit deficiency judgments. Contact a local attorney if you are facing repossession or a lawsuit.