Special promotions are a powerful tool to help you attract new customers and close sales, but to take full advantage, you need to know how they work. Here you will find an explanation of each of our promos and tips on when to offer them to your customers.
Reduced Interest Rates:
A reduced interest rate is applied to the contract for the entire contract term. Some reduced interest rate plans may be combined with SAC or DEFSAC promotional plans.
Use this promo to create a lower monthly payment for your customer over the entire length of their contract. We offer free reduced interest rates starting at 11.9% for your Tier 1 customers.
Same-As-Cash with Monthly Payments (SAC):
Interest begins accruing upon substantial project completion but is waived if the amount financed is paid in full before the end of the applicable promotional period, which ranges between 6 and 24 months from substantial project completion. Monthly payments are not deferred and are due beginning 1 month from substantial project completion.
If your customer is financing an amount they can pay off within the promotional period, then a same-as-cash promo can be a great option!
Same-As-Cash with Monthly Deferred Payments (DEFSAC):
Interest begins accruing upon substantial project completion but is waived if the amount financed is paid in full before the end of the applicable promotional period, which ranges between 6 and 24 months from substantial project completion. Monthly payments are deferred during the promotional period.
A DEFSAC promo can help customers who could benefit from a period of time without payments after their project is completed before they pay off their financed amount. This may be a popular option around holidays or tax time.
Deferred Payments (DEFPMT):
Interest begins accruing upon substantial project completion and is not waived. Monthly payments are deferred during the promotional period, which is 3 months from substantial project completion.
If your customer is expecting a positive change in their monthly income, such as paying off a car loan or receiving a raise or promotion, deferring their payments for a few months can give them a chance for that change to take place.
Equal Payments (EQLPMT):
No interest accrues for the entire contract term. Monthly payments are not deferred and are due beginning 1 month from substantial project completion.
Is your customer a fan of simple? Do they want to save on interest? The equal payments promo makes it easy to get their project done now and pay it off over a set period of time with zero interest accruing.
No Payments-No Interest (NOP):
Interest does not begin to accrue until after the applicable promotional period, which is either 6 or 12 months from substantial project completion. Monthly payments are deferred during the promotional period.
The deferred payments and delayed interest accrual make NOP a good option for customers who may need some extra time before they begin making payments on their project.
Interested in other ways Foundation Finance can help you close your next sale? Contact us for more info: 1-855-241-0024, [email protected].
You can build on us. Enroll in the Foundation Finance dealer network today.
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.
