Both New Car Lien Credit* and New Invoice Lien Credit** contracts allow banks to liquidate their mortgageable foreclosures without a price deduction, while giving buyers a credit towards an approved purchase (e.g., a vehicle, furniture, appliance, other approved purchases/services, or an outstanding invoice bill where the lien credit can pay off the invoice in full satisfaction). The New Car Lien and New Invoice Lien credits are equal to cash credits. The Lien Credits do not qualify to be used towards any purchases or bills as a down payment, as they must be used towards purchases that satisfy the full payment of the purchase. As a result, all purchases made using the Lien Credit by the buyer are owned free and clear of the mortgage.

* The New Car Lien Credit is defined as a credit that may be applied towards a purchase for a determined amount towards a vehicle.
** The New Invoice Lien Credit is defined as a credit that may be applied towards a purchase for a determined amount towards furniture, appliances, or other approved purchases and/or services.