“Discount” financing is a term that scares many home improvement contractors. But without discount programs, a lot of potential buyers would not qualify for financing … which means fewer sales can be closed. And fewer sales means lower profits. What is discount financing? Many banks, credit unions and finance companies will only make loans to
Closing more sales with discount financing Read More »
We’ve done it again! Effective May 1, 2014, we’ve got great new options for our dealers to help you close more sales. Same-as-cash pricing has been lowered Give your customers the benefit of a same-as-cash program and keep more money in your pockets. Dealer fees have been lowered for all same-as-cash with payments and same-as-cash
Lower pricing to help you close sales! Read More »
Foundation Finance Company (FFC), one of the fastest-growing providers of consumer financing to the home improvement industry, has launched new “SuperPrime” programs designed to compete directly with the home improvement financing programs offered by Wells Fargo, GE Capital and other “prime only” lenders. “Our second-look home improvement financing programs have been hugely popular for dealers
New "SuperPrime" programs make full-service financing a reality Read More »
Taking complete credit applications is one of the most important things you can do to help improve your financing results. Unfortunately, a lot of salespeople don’t understand this and submit incomplete or inaccurate applications. Doing this jeopardizes your chances for an initial approval and increases the odds of a loan getting rejected during verification. Here
The importance of good credit applications Read More »
Working in an increasingly online, mobile world means embracing new technological trends that can save you and your customers time and money. Foundation Finance Company is now launching its “Kwik-Sign” digital signature program for loan document completion. Of course, dealers always have the option to complete loan documents by hand using hard copies or to
Embracing New Technology: Digital Signatures Read More »
It’s a new year … time for resolutions to be made and a great time for change. It’s also a great time to review what is and isn’t working for you when it comes to your consumer financing programs. Here are a few ideas to help you start the new year right! 1. If you
Financing in the New Year Read More »
When dealing with a one-stop financing program, like the one offered by Foundation Finance Company, dealers often want to know how to minimize their discounts. For a finance company who offers full service A, B, C and D lending, there is a fine line between discounting enough to cover real losses and staying competitive with
Making the most of credit approvals Read More »
“Chop shop.” That’s a term some dealers use to describe a finance company that offers discount financing programs. Doesn’t sound very positive, does it? But without discount programs, many customers would not qualify for financing … which means fewer sales can be closed. And fewer sales means lower profits. What is discount financing? Many banks,
Discount financing … friend or foe? Read More »
“6 months same-as-cash.” “No payments for 90 days.” “Payments as low as $49/month.” Why do you think “Big Box” retailers like Best Buy or Home Depot are always advertising their special financing promotions? Because it works. Actively promoting financing plans helps attract new customers and to get those “on-the-fence” buyers to say yes. The most
Using financing to drive sales – 3 "must-dos" Read More »
Most people know a little bit about credit scores and understand that having a good credit score is important for a variety of reasons. Without a good credit score, it is difficult to borrow money, get insurance and even find a job. But a person’s credit score is not the only factor lenders consider when
Understanding credit – is FICO the whole story? Read More »
For dealer use only. Not a consumer advertisement. All credit products are subject to credit approval. Rates, terms, conditions, and promotional programs may vary by dealer and are subject to change without notice.
Note: Use of the terms "Loan," "Lender" and "Borrower" is for ease of reference only. Financings are in the form of retail installment contracts ("RIC").
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