Same-as-cash financing programs, deferred payment loans and other promotional financing plans can help attract new buyers and close sales. That’s why you see them advertised everywhere from the auto repair shop to the dentist to the “Big Box” retailer. Customers are used to having a financing option offered for large-ticket purchases, and home improvement projects are no exception. Whether you sell windows, doors, siding, roofs, water treatment systems or other home improvements, financing can help boost your sales and build your bottom line.
Power Of Financing in Sales
With same-as-cash financing, you can offer customers a set period (typically 6, 12 or 18 months) during which if they pay the amount financed in full, any accrued interest is waived, essentially giving them an “interest-free” loan. Deferred payment offers allow the customer to buy now and pay later – a great option if they are waiting on a bonus or tax refund or some other windfall. And advertising low monthly payments (payments as low as $80 per month, for example) shows buyers how affordable the purchase can be. Breaking a sale price down into monthly payment options helps the buyer see how easily it can fit into their monthly budget.
Promotional financing programs usually have a small fee that the dealer, contractor or retailer pays, so it’s important to understand the fees and work within your margins to find the offers that work best for you. But by advertising financing and having promotional offers available, you can more easily attract new buyers and close more sales.
Foundation Finance Company offers a variety of free promotional sales materials you can use to let your customers know you have home improvement financing plans available. Learn more about our available promotional financing programs by watching this short video and then call us at 1-855-241-0024 x5012 or email [email protected] with any questions. Start closing more sales today!